Estate Planning for Aging Parents, Traditional IRA Basics, Best Cities for Affordable Homes

Traditional IRA Basics: 10 Things You Must Know | 10 Best Affordable Cities for Homebuyers on a Budget | Estate Planning for Your Aging Parents: A Delicate Balance Created for {EMAIL} | [Web Version]( March 4, 2024 CONNECT WITH KIPLINGER  [LinkedIn]( [Facebook]( [X]( [Youtube]( [Instagram]( [Retirement Tips]( [SIGN UP]( ⋅ [WEBSITE]( [] Retirement Accounts [] [Traditional IRA Basics: 10 Things You Must Know]( [Traditional IRA Basics: 10 Things You Must Know]( (Getty Images) The traditional IRA is one of the best options in the [retirement-savings toolbox](. You can open a traditional IRA at a bank or a brokerage, and the universe of investments is wide open to you. To [make the most of a traditional IRA](, here are 10 things you should understand first. [] Real Estate [] [10 Best Affordable Cities for Homebuyers on a Budget]( [10 Best Affordable Cities for Homebuyers on a Budget]( (Getty Images) Homes are increasingly difficult to afford due to [high mortgage rates](, real estate prices and low housing stock. To help homebuyers bridge this gap, insurance broker Insurify determined the most affordable and desirable [cities that a median household income of $75,000 could afford](. [5 Things You Want From Your Retirement Income Plan]( Here's what Go2Income plan holders say about their retirement income objectives: 1. Don't Run Out of Money 2. Grow Income Each Year 3. Leave a Legacy for Kids 4. Build a Reserve Fund for Unplanned Expenses 5. Increase Spendable Income by Reducing Taxes We can help you balance your objectives with a complimentary Go2Income plan. [Order Your Plan]( ADVERTISEMENT [] Estate Planning [] [Estate Planning for Your Aging Parents: A Delicate Balance]( [Estate Planning for Your Aging Parents: A Delicate Balance]( (Getty Images) Estate planning is more than just deciding [who to leave your assets to]( once you die. Justin Stivers, Esq., explains the comprehensive process that encompasses health care decisions, financial management and maintaining a [delicate balance between independence and security](. [] Taxes [] [The 'Food Tax': Grocery Tax by State]( [The 'Food Tax': Grocery Tax by State]( (Getty Images) Adding a "food tax" to the already [high cost of groceries]( places extra financial burden on many families. Grocery taxes provide significant revenue for states to fund departments like education and transportation. These states still impose a [statewide tax on groceries]( as of October 2023. [Ask a Pro: What's the Best Way to Lower RMD Taxes?]( Ask an advisor. Try this no-cost tool to get matched with up to 3 vetted fiduciaries serving your area who can help you with your finances. It's never too late to work towards a comfortable retirement. [Get Started]( ADVERTISEMENT Featured Content Sponsored Content from Decanter [Exclusive European Wine Tours - Selling Fast]( Explore Europe's iconic wineries with Decanter's experts this June. Perfect for solo travelers and couples, our intimate trips offer exclusive access, exceptional wine, food and sightseeing. Check out our brochures and secure your spot now! Spaces are limited. [Learn More]( [] Retirement Income [] [Annuities: 10 Things to Know]( [Annuities: 10 Things to Know]( (Getty Images) Soaring [interest rates]( are making annuities more attractive to investors, with annuity sales smashing records set during the Great Recession. Before considering [annuities](, you should understand the basics, including what options they provide and how safe your money will be. [4 Options to Consider With Your 401(k) When You Switch Jobs]( You've worked hard to save money in your 401(k) or 403(b) and if you're like most Americans, you're likely to change jobs (and employers) multiple times during your career. There are a few different options you can take with your 401(k) when you switch jobs. [READ MORE]( ADVERTISEMENT [] Healthcare [] [Healthcare System Still Reeling From UnitedHealth Cyberattack]( [Healthcare System Still Reeling From UnitedHealth Cyberattack]( (Getty Images) The American Hospital Association says the February 21 cyberattack at Change Healthcare continues to be felt throughout the [healthcare system](. We explore the [unnerving impact of this disruption upon hospitals]( and other facilities that use Change Healthcare's systems. [] RELATED KIPLINGER ARTICLES WE THINK YOU'LL ENJOY [] [3 Steps to Make Your Money Last in Retirement]( Life expectancy is up across the globe, but many people cannot fund that extended time in retirement. Here's what retirees should do. [What to Do With Your 401(k) When You Leave Your Job]( Instead of cashing out or leaving your 401(k) account behind, consider consolidating savings in your new employer's plan. [The Upside of Withholding Tax From Your Social Security Benefits]( taxes withheld from Social Security benefits can help retirees avoid a surprise when tax season arrives. [Sign up free for A Step Ahead, offering guidance on how to navigate today's challenges for business, the economy and financial markets.]( ABOUT KIPLINGER When we write about money, we get it right. So the decisions you make with your dollars are also right. Kiplinger is a trusted provider of unbiased financial advice, objective business and economic forecasts, and practical help to millions of business professionals, investors, and individuals seeking to make more profitable decisions with their money. 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