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Celebrated Your 50th Birthday? Here’s What You Need to Do Next 慶祝你的50歲生日？這是你接下來需要做的事情 (中英對照)

“Your 50s are a time of transition. Many workers reach their peak earning years in their 50s, having found their ideal career niche.”

The 50s are the time of life when your kids are starting to become more independent and may have already moved out. If that’s true, you may have a little more disposable income. That presents a good opportunity to ramp up your retirement savings, advises Sioux City Journal in the article “In Your 50s? Do These 3 Things to Plan for Your Retirement.”

Unfortunately, many people who turn 50 start thinking now is the time to retire early, go on extravagant vacations or buy themselves big ticket items that they’ve always wanted. A better approach: consider this a time to make the most of your income, keep saving for retirement and stay on a steady course.

Use the catch-up options available to you. The federal government knows that many people don’t have the means or the motivation to save for retirement until later in their careers. That’s why there are several provisions in the tax laws that let you catch up, once you reach 50.

• You can put away an additional $1,000 above the annual contribution limit to an IRA.
• You can add $6,000 in annual contribution to 401(k)s and similar employer-sponsored plans after age 50.
• Once you pass your 55^th birthday, you can make an additional $1,000 annual contribution to health savings accounts.

If you’ve got the cash to spare, these are great opportunities.

Educate yourself about Social Security. Many people rely on Social Security for their retirement, while others use it as a safety net. You’ll want to start learning about the rules.  

When you take your first benefits has an impact on how much you’ll receive over your lifetime. Yes, you can start at age 62, but the difference in the amount you’ll get at 62 versus 70 is substantial. If you plan to keep working, maximizing earnings is the best way to boost your Social Security benefits.

Get access to savings in the early years of retirement. If you can afford to retire in your 50s, know when you can tap your retirement savings. If you’ve used regular taxable accounts to invest your savings, it won’t matter when you make withdrawals. However, if your money is locked up in 401(k)s, SEPs, IRAs and other tax favored accounts, you’ll need to know the rules. Penalties for taking withdrawals before the specified age, can take a big bite out of your retirement accounts.

It is hard to think about working every day for another 10 years or 20 years, once you’ve celebrated your 50^th birthday.  However, keeping these three key ideas in mind as you plan for the future will help put you in the best financial state possible.

Another post-50^th birthday task? Meet with an estate planning attorney and make sure you have a will and other legal documents to protect yourself and your loved ones.

Reference: Sioux City Journal (Aug. 25, 2018) “In Your 50s? Do These 3 Things to Plan for Your Retirement”

“50歲是過渡時期。許多人在50多歲時達到收入最高的年齡，找到了理想的職業生涯。”

在50歲的時期是您的孩子開始變得更加獨立並且可能已經搬出了。如果這是真的，你可能會有更多的收入。這為增加退休儲蓄提供了一個很好的機會，Sioux City Journal在文章中建議“In Your 50s? Do These 3 Things to Plan for Your Retirement”(在你50多歲？為退休計劃這三件事)

可惜的是，許多50歲人現在開始思考的是提早退休，去過奢華的假期或者購買他們一直想要的昂貴物品。更好的方法：考慮這個時間來充分利用您的收入，繼續為退休儲蓄並保持穩定的積蓄。

使用您可用的追趕選項。聯邦政府知道很多人沒有辦法或動機為退休儲蓄直到他們的職業生涯後期。這就是為什麼稅法可以讓你在50歲時趕上因為有一些條款幫助。

• 您可以在美國國稅局 (IRS) 的年度繳費限額之外額外儲蓄1,000美元。
• 您可以在50歲後為401（k）和類似的雇主贊助計劃增加6,000美元的年度繳款。
• 一旦超過55歲，您可以每年額外向健康儲蓄賬戶 (Health savings accounts) 儲蓄1,000美元。

如果你有足夠的現金，這些都是很好的機會。

教育自己關於社會保障福利。許多人依靠社會保障退休，而其他人則將其用作安全網。您要開始了解規則。

當您獲得第一筆福利對您一生中將獲得多少收益產生影響。是的，你可以從62歲開始，但你在62歲和70歲之間獲得的金額相差很大。如果您計劃繼續工作，最大化收入是提高社會保障福利的最佳方式。

在退休的最初幾年要獲得儲蓄登入。如果您能夠在50多歲時退休，要知道何時可以登入退休儲蓄。如果你用沒有稅務豁免的帳戶投資你的儲蓄，那麼您何時提取資金並不重要。但是，如果您的資金被鎖定在401（k），SEP，IRA和其他稅收優惠賬戶中，您需要了解規則。在指定年齡之前取款的處罰，可能會對您的退休賬戶造成很大影響。

一旦你慶祝了50歲生日，很難想像工作10年或20年。但是，在計劃未來時牢記這三個關鍵將會有助於幫您處於最佳財務狀態。

另一個50歲生日後任務？與資產規劃律師會面並確保您有遺囑和其他法律文件來保護您自己和您所愛的人。

參考: Sioux City Journal (Aug. 25, 2018) “In Your 50s? Do These 3 Things to Plan for Your Retirement”

There’s more than a Roth or an IRA to Your Retirement 您的退休不僅僅是Roth或IRA (中英對照)

“From well-known options, like IRAs and 401(k)s, to more obscure ones, like Cash Balance Pension Plans or Rich people Roths, these accounts can help you to grow your savings.”

Most people work at a company that offers them a way to contribute to a retirement account, usually an IRA.  However, there are more options available, according to a recent article from Forbes titled “10 Retirement Accounts You Should Know About.”

Few of us need less money in our retirement accounts. Most of us enjoy the tax benefits we get from retirement accounts. Americans, in general, do a terrible job of saving for retirement. Some say the IRA, Roth IRA and other similar accounts were created to give us an incentive to do a better job. The tax advantages of these accounts make it more attractive to sock away money every year. These accounts were also set up with deliberate penalties, so people wouldn’t raid their accounts every time they needed a few extra dollars.

If you are among those who work for companies that have a retirement savings plan match, make the most out of it. If you put in the annual percentage or amount your plan requires, your employer will match that contribution. Most workers walk away from this money.  However, it’s free money!

Employees usually are offered a 401(k), 403(b) or 457 plan from their employer. The financial institution is already chosen, the money is automatically taken out of your paycheck and often you can only make decisions about what kind of funds you can select at certain times of the year. In 2018, you can contribute up to $18,500. If you’re 50+, you can make an additional $6,000 contribution, known as a catch-up contribution.

Self-employed? You need a retirement plan more than someone who works for a company. Self-employed people have many more options. If you need help, talk to your CPA. There may be some plans that are better suited or have more tax advantages than others.

For self-employed people, the basic choices are the solo 401(k) for a sole proprietor or someone working with their spouse. You can make contributions as both the employer and the employee. You could contribute as much as $55,000 in 2018 (or, if you are 50+, $61,000). Your total contributions are determined by your net business income.

Another choice for retirement savings for the self-employed is a SEP IRA, the Simplified Employee Pension. It’s easier to set up than a 401(k)and is typically used by people with self-employment income or small business owners. As the employer, you can contribute up to a quarter of your income, or $55,000, or whichever is less. There are no catch-up contributions for a SEP IRA.

Self-employed or working for a company, your retirement plan needs to include an estate plan. Your estate planning attorney will be able to help you with a will, power of attorney and healthcare directive. She will also be able to give you valuable insights, as to how your retirement plan and your estate plan can work together to minimize taxes and maximize the estate you leave behind.

Resource: Forbes July 23, 2018 “10 Retirement Accounts You Should Know About”

 “從眾所周知的選項，如IRA和401（k），到比較少人知的選項，像現金餘額養老金計劃 (Cash Balance Pension Plans)或富人Roth，這些帳戶可以幫助您增加儲蓄。”

大多數人在一家公司工作，為他們提供的退休賬戶方式，通常是IRA。但是，根據福布斯最近發表的一篇文章，有更多的選擇 “10 Retirement Accounts You Should Know About.”( 你應該知道的10個退休賬戶)

大部分人都是覺得退休賬戶的錢不夠用。我們大多數人都喜歡從退休賬戶中獲得的稅收優惠。總的來說，美國人並不擅長為退休儲蓄。有人說IRA，Roth IRA和其他類似的賬戶是為了激勵我們做得更好。這些賬戶的稅收優惠使得每年存錢都更具吸引力。這些帳戶是有懲罰條款的，因此人們不會在每次需要額外的錢時使用他們的帳戶。

如果你是那些為退休儲蓄計劃匹配的公司工作的人，請充分利用它。如果你在計劃存入所需的年度百分比或金額，你的雇主將與該存款相匹配。大多數工人都忽略了這筆錢。但是，這錢是免費的！

員工通常會從雇主處獲得401（k），403（b）或457計劃。雇主已經選擇了金融機構，這筆錢會自動從​你的薪水中扣除，而且你通常只能決定在一年中的某些時候可以選擇投資在那些基金。在2018年，你可以貢獻高達18,500美元。如果你是50歲以上，你可以額外支付6,000美元的存款，稱為追加捐款(catch-up contribution)。

自僱？你比一般受僱人士更需要退休計劃。自僱人士有更多選擇。如果你需要幫助，請諮詢你的註冊會計師。可能有一些計劃比其他計劃更適合或有更多稅收優惠。

對於自僱人士，不管是單獨經營者或與其配偶一起工作的人的基本選擇是獨自401（k）。您可以同時以雇主和僱員的身分存錢。你可以在2018年貢獻多達55,000美元（或者，如果你是50歲以上，61,000美元）。你的總捐款由您的營業收入決定。

自僱人士退休儲蓄的另一個選擇是SEP IRA，即簡化員工退休金 (Simplified Employee Pension)。設置比401（k）更容易，並且通常由自僱人士的收入或小企業主要使用。作為雇主，你可以提供高達四分之一的收入，或55,000美元，或比較哪個方法需要較少錢。SEP IRA沒有追加捐款。

自僱人士或為公司工作的人，退休計劃需要包括資產計劃。你的資產規劃律師將幫助你完成遺囑，授權書和醫療保健指令。她還能夠為你提供有價值的見解，了解你的退休計劃和你的資產計劃如何共同努力以最大限度地減少稅收並最大化地留下你的遺產。

參考: Forbes July 23, 2018 “10 Retirement Accounts You Should Know About”