Watch out for hidden taxes when retiring to a new state
Retirees should look at all state and local rules, said Peter J. Creedon, CEO at Crystal Brook Advisors. That means watching for higher taxes or fees on everything from registering cars and boats to taxes or surcharges on resorts. "Many states have all these little fees," Creedon said. "They've got to make their money some way." Read More #retirement #taxes #savings #Personalfinance
What Your 401(k) Can Look Like in the Next 20 Years
Or consider this example from Peter J. Creedon CFP®, ChFC®, CLU®, chief executive officer of Crystal Brook Advisors, New York, N.Y. "A 25-year-old who invests $5,000 a year with an 8% average annual return for 43 years should have approximately $1.65 million. If you started saving 10 years later and invested $5,000 per year with the same 8% average annual return, after 33 years the result is approximately $729,750. Not magic, just the time value of money. The 35-year-old woul
