How to Handle Aging Parents, Save on Booking Cruises, Smart Pension Tax Planning

Six of the Worst Assets to Inherit | Nearing Retirement With Student Loan Debt? What You Can Do | The Earlier You Take Advantage of Your 401(k), the Better Created for {EMAIL} | [Web Version]( May 6, 2024 CONNECT WITH KIPLINGER  [LinkedIn]( [Facebook]( [X]( [Youtube]( [Instagram]( [Retirement Tips]( [SIGN UP]( ⋅ [WEBSITE]( [] Estate Planning [] [Six of the Worst Assets to Inherit]( [Six of the Worst Assets to Inherit]( (Getty Images) [Leaving these assets to your loved ones]( may be more trouble than it's worth. Here's how to avoid adding to their grief after you're gone. [] Debt [] [Nearing Retirement With Student Loan Debt? What You Can Do]( [Nearing Retirement With Student Loan Debt? What You Can Do]( (Getty Images) Many older adults will struggle with rising costs (health care and otherwise) and not enough savings. Patrick M. Simasko, J.D., offers tips on how they can [manage lingering student debt](. [How Do I Plan for RMDs?]( If you have tax-deferred retirement accounts, you'll need to take required minimum distributions (RMDs) eventually. If not properly planned for, these distributions could take a tax toll on your retirement nest egg. Find out how to plan for RMDs, so you can help potentially avoid hefty fines. [Learn more]( ADVERTISEMENT [] Retirement Accounts [] [The Earlier You Take Advantage of Your 401(k), the Better]( [The Earlier You Take Advantage of Your 401(k), the Better]( (Getty Images) The power of compound interest can turn modest contributions into big savings for retirement. Investing executive Rich Guerrini explains how the four key features of [401(ks) can encourage you to save more for retirement](. [] Travel [] [How to Save on Booking a Cruise]( [How to Save on Booking a Cruise]( (Getty Images) Booking a cruise for a [family vacation]( or romantic getaway? Cruises can be a great way for extended families to enjoy time together, as they offer activities for kids, adults and seniors. Our editors have found [three methods for saving money on cruises](. [Veterans: Unlock VA Homebuying Benefits]( The VA Loan is a powerful homebuying tool for Veterans and military families. Talk with one of our experts to find out how to use your VA benefits to purchase a home in today's market. [Read More]( ADVERTISEMENT Featured Content Sponsored Content from Kiplinger Retirement Planning 2024 [Plan and enjoy a worry-free retirement.]( Whether you've already left the workforce or you're just beginning to think about it, [Kiplinger Retirement Planning 2024]( will show you how to maximize your 401(k), select top-performing investments, get the most from Social Security, protect your estate, ensure affordable top-notch health care and much more. [Click to see table of contents.]( [] Elder Care [] [How to Talk to Your Aging Parents About Finances and Care]( [How to Talk to Your Aging Parents About Finances and Care]( (Getty Images) Approaching parents about this subject can be challenging, and parents may not always be receptive to getting advice from their children. The financial experts of [Kiplinger Advisor Collective]( each share one tip they'd give for [having tough conversations with aging parents](. [What's the Best Way to Lower RMD Taxes?]( If you have tax-deferred retirement accounts, you'll need to take required minimum distributions (RMDs) eventually. If not properly planned for, these distributions could take a tax toll on your retirement nest egg. Check out these 6 strategies to help potentially lower your tax bill. [Learn more]( ADVERTISEMENT [] Taxes [] [If You Have a Pension, Smart Tax Planning Should Start Now]( [If You Have a Pension, Smart Tax Planning Should Start Now]( (Getty Images) Adding pension income to [Social Security benefits]( and income from required minimum distributions could see you facing a tax torpedo and higher Medicare costs. Joe F. Schmitz, Jr., CFP, describes why [fixing this pension dilemma]( starts with tax-smart planning. [] RELATED KIPLINGER ARTICLES WE THINK YOU'LL ENJOY [] [New RMD Rules: Starting Age, Penalties, Roth 401(k)s, and More]( The SECURE 2.0 Act makes major changes to the required minimum distribution rules. [Why Has Your Car Insurance Gone Up? (And What You Can Do About It)]( Have you noticed that the cost for your auto insurance seems to be on the rise? You're not alone. 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