Many American workers have assets in one or more employer-sponsored retirement plans (i. e. , 401(k), 403(b), profit-sharing plans) to help save for the future. But what happens if you change jobs? These accounts don’t always follow you, so people put them off until later. In fact, about 1 in 5 U.S. S. workers have … Read more
Everyones dream retirement looks different. If you want to travel, play golf, fish, volunteer, spend time with family, or do anything else in retirement, you need to make sure you have enough money saved. Those with enough savings and investments to afford a $10,000 monthly budget in retirement have plenty of options for where to … Read more
Let our free assessment guide you to the best senior living options, tailored to your budget. Moving into a nursing home brings up lots of financial worries – especially what happens to your hard-earned pension and other retirement income. Many seniors and their families worry that nursing homes will simply take all their money, leaving … Read more
Ever wondered if you could switch from your own Social Security benefit to your spouse’s? Maybe you started collecting early at 62 but now realize your spouse’s benefit might give you more money each month. Well I’ve done the research and lemme tell you – it’s not as straightforward as you might think! Can You … Read more
Nothing in this world is certain but death and taxes, Benjamin Franklin said. But even death can’t bring relief from taxes. Yes, death can be a tax-triggering event. And there are two you should be aware of: the estate tax and inheritance tax. The estate tax is levied on the things the deceased owns or … Read more
When you purchase through links on our site, we may earn an affiliate commission. Here’s how it works. One of the last things you want to worry about in retirement is taxes. However, since taxes affect how much hard-earned money you keep, a key area, sometimes overlooked by retirees, deserves some attention: capital gains tax. … Read more
A defined benefit (DB) pension plan is a fund that is designed to provide a guaranteed income to employees in retirement. A pension is a benefit from your employer. It works like more common defined contribution plans like 401(k), 403(b), and profit-sharing plans. In contrast to defined contribution plans, a pension plan guarantees retirement income. … Read more
Have you ever stared at your paycheck, noticed that Social Security deduction and wondered, “What am I actually gonna get back from this someday?” Trust me you’re not alone. I’ve been paying into Social Security for years, and until recently, I had no clue what I’d actually receive when retirement rolls around. Maybe you want … Read more
Are you thinking about your estate plan but confused about whether to go with a living trust or just stick with a traditional will? This decision is super important and I totally get why it can feel overwhelming. After helping countless clients navigate this choice I’ve put together this guide to explain why a living … Read more
If you’re the Executor of someone’s estate, there are many steps to follow, including showing an accounting to beneficiaries. Here’s what you need to know!. As the executor or administrator of an estate, you’re beginning to acquaint yourself with the requirements of your role. What are your duties? Do you get paid? What decisions do … Read more