A 401(k) can be a great tool to help you save and invest for retirement. Pre-tax contributions to a traditional 401(k) can help reduce your taxable income today, and you won’t owe taxes until you make withdrawals, usually in retirement. But you might wonder: What if I need some or all of my 401(k) money … Read more
When you get to be 80 years old, you need to rethink how you invest. Gone are the days of aggressive growth portfolios and risky investments. But that doesn’t mean you should let your money sit there! As someone who has helped many seniors with their money in their later years, I think there’s a … Read more
A new tax season has arrived. The IRS reminds taxpayers receiving Social Security benefits that they may have to pay federal income tax on a portion of those benefits. Social Security benefits include monthly retirement, survivor and disability benefits. They dont include supplemental security income payments, which arent taxable. To determine if their benefits are … Read more
The holiday season is here, bringing plenty of celebrations—and gifts! If you receive Social Security Disability Insurance (SSDI) or Supplemental Security Income (SSI), it’s important to know how gifts might affect your benefits. Let’s break it down so you can enjoy the season without worry. Have you ever worried about accepting money from family or … Read more
Even with a rocky start to the year in the market, workers in their 40s appear to be sticking with their retirement contributions. Thats based on Fidelitys latest report, which analyzed data from more than 24 million of its 401(k) accounts through March 31. Heres how much people in their 40s have in their 401(k) … Read more
As the first generation of wealth creators, HNWIs and UHNWIs know how to build fortunes and identify money-making opportunities. But where do the rich store their wealth? Our study shows that 75% of them concentrate their assets in categories that are riskiest in the context of family wealth transfer. What are these assets, and what … Read more
Let’s be real – worrying about running out of money in retirement keeps many of us up at night. I’ve talked to countless folks who wonder if their $500,000 savings will be enough to sustain them through their golden years. It’s a legitimate concern that deserves a thorough breakdown. This article will help you figure … Read more
When you think about your plans for retirement, do you wonder what the full retirement age for Social Security is? You’re not the only one. The answer is important. When preparing for retirement, understanding the timing considerations around claiming your Social Security benefit is essential. Not everyone has the same finances or life expectancy, so … Read more
You would love to retire early, but you only have $750,000 saved for retirement. Is that really enough money to leave the workforce permanently?. Depending on your cost of living in retirement and your other sources of retirement income—like Social Security benefits—$750,000 might be enough. “Retiring with $750,000 at age 60 is doable for some—but … Read more
Have you ever wondered if you can move those individual stocks you own into your 401(k) account? Maybe you’ve got some company shares or a brokerage account full of stocks that you’d rather have growing tax-deferred in your retirement account I get this question from readers frequently, and the answer isn’t as straightforward as you … Read more