Are your retirement savings a little low? Youre not alone. According to a survey by the Transamerica Center for Retirement Studies in 2023, about 21% of Baby Boomer workers have less than $50,000 saved for retirement. If youre in that low-to-no camp, here are the things you can do to help shore up your finances … Read more
While inflation has been cooling, the higher prices of essentials are still weighing on household budgets after years of sticky inflation, and other economic hurdles and uncertainties are also looming, adding to the financial struggles people are facing right now. It’s easy to see why many seniors and people who are about to retire are … Read more
A person’s will is an important document that shows how they wanted their property to be divided after they died. But what if you’re a beneficiary and think the will should be changed? Can you actually change it? This is a question that many people in this situation have, and the answer isn’t a simple … Read more
Should you really agree to give up control of your assets? There are some good reasons to get this type of trust, but there are some major drawbacks as well. When you purchase through links on our site, we may earn an affiliate commission. Here’s how it works. Despite what you may have heard, you … Read more
You might like to save for retirement in a Roth account, but you make too much money to put money into a Roth IRA directly. And maybe you dont have access to a Roth 401(k) plan at work. In that case, you may want to learn more about the strategy called a backdoor Roth IRA. … Read more
When you’re dealing with the loss of a loved one, the last thing you want to worry about is taxes. But if you’ve received a lump sum death benefit, understanding the tax implications is crucial for your financial planning. I’ve helped many clients navigate this confusing terrain, and I’m here to break it down in … Read more
Losing a loved one is hard enough without having to navigate the complex world of trusts and estate administration. If you’re wondering exactly how long it’ll take before assets get distributed from a trust, you’re not alone. As a trustee or beneficiary, understanding this timeline can help set realistic expectations during an already challenging time. … Read more
If the thought of playing golf or taking care of your garden all day sounds like your ideal life, you’re not the only one. Most people your age are still decades away from retirement. Retiring well ahead of the norm is a topic that dominates online forums and many millennial-managed websites. But figuring out how … Read more
Congratulations, you have $200,000 saved up. Having this much money is a game-changer for your financial future, whether you got it from an inheritance, the sale of a business, or years of hard work saving. I’ve been studying smart money moves for years, and I’m excited to share some useful tips that can help you … Read more
Are you making too much money for traditional retirement accounts? That’s what I call a good problem to have! But it’s still a challenge that needs solving if you want to build a tax-efficient retirement strategy As a high-income earner, you might think that IRAs are off the table for you. The truth is, you’ve … Read more