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Last time, we talked about nailing down your retirement budget. For example, let’s say you’re spending $96,000 a year—some for basic needs, some for fun. Knowing that number is step one. Once you know your spending,

Retirement accounts such as Roth and traditional IRAs and 401(k)s are a great way to save, but mind the tax rules on withdrawals.

Colorado now allows residents between 55 and 64 to avoid paying taxes on Social Security benefits if their adjusted gross income (AGI) stays under $75,000 for single filers or $95,000 for joint filers. Meanwhile, West Virginia is set to eliminate its taxes on Social Security benefits by 2026, becoming more tax-friendly for retirees.

If you're one of the many federal employees being offered early retirement but are still years away from your Minimum Retirement Age, you may be feeling uncertain and anxious about whether to accept the offer now or wait to see what unfolds.