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There are many terms and concepts that are brought up but not explained in the news, so today I will try to shed some light on what the terms mean and the ultimate connections between them.

For some, planning is getting up in the morning and if it is a good day in the market, they think "Awe! Retire at 70!" Or, if it's a bad day, they think "I will be working till I die." This is NOT planning, this is stumbling through life.

When markets get volatile, there are several things you can do to remove some of the anxiety. Do nothing. Ignore the news and just ride the roller coaster. Sell everything and put the money in a CD. Follow your plan.

Are you in your mid-fifties or older? Do you find yourself feeling worried or losing sleep over thinking about your retirement funds?

Every year I hear the following comments and wanted to clarify some myths vs realities. 1. “I do not want to invest. I prefer mutual funds because they are safe.” 2. “I am a conservative investor and hold high yield bonds to get greater income.”

Whether you are steps away from retiring, newly retired or well settled into your retirement years, it is never too late to do some tax-focused financial planning to maximize retirement spending and minimize payments to Uncle Sam.