Maybe you’ve done all the right things—saving, investing, and managing debt—to build a solid nest egg to live out your retirement comfortably and cover critical issues like housing, medical costs, long-term care, vacations, and hobbies. But have you considered how long you’ll live? Will your plans and finances be sufficient to take you to 90 or 100 years old?

Though many people spend their working years fantasizing about retirement and decades of relaxation, a recent study by Empower on redefining the ideal retirement finds that many still want to continue working.

Now is the time of year when you’re taking a hard look at your financial picture and developing a plan for the year. Before you start, check the all-important Internal Revenue Service (IRS) contribution limits for 2021. For details, visit the IRS site at https://bit.ly/3mUplK4 and https://bit.ly/2JpWZK5 . For individuals contributing to a 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan, the contribution limits stay at $19,500. For those over the age of 50, the catch-up contribution stays at $6,500. The maximum contribution limits for individual retirement

The SECURE Act (The Setting Every Community Up for Retirement Enhancement Act of 2019,) a law aimed at improving people’s retirement security, was signed into law at the end of 2019 and has tax implications for those inheriting money from IRAs and 401k accounts. Before, those inheriting such funds could take distributions over their lifetime. But that timeframe has now been reduced to 10 years, meaning that if you’re inheriting an IRA or a 401(k) from someone who passed away on or after January 1, 2020, you’ll need to withdraw those assets within 10 years. They’re taxed as ordinary income and