How long do U.S. retirees live compared to peers in other countries? An analysis by the Society of Actuaries shows that Americans are expected to have shorter lives compared with citizens in other developed countries, according to this article on CBS Moneywatch. The analysis ranks 14 developed nations in terms of projected period life expectancy of people at age 65, and the U.S. ranks last for females and second to the last for males. Experts say that Americans' poor ranking could be attributed to hefty income disparities in the U.S. and the more generous retirement benefits and universal health care offered in other developed countries.
Benz: What to do with unneeded RMDs Retirees have to start taking required minimum distributions from their IRAs when they reach 70 1/2, and making unneeded withdrawals can boost their tax liability, says an expert on Morningstar. To reduce taxable distributions from their IRAs, investors who expect to have enough income in retirement may want to transfer a portion of their IRA assets in equity investments, exchange-traded funds, or traditional index funds, the expert says, adding that tax-exempt municipal bonds and tax-managed funds are also feasible options. Retirees may also transfer some of their IRA assets in 529 college savings plan or opt to make qualified charitable distributions to avoid the tax burden.
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