If you are in your sixties and are about to retire or started working in the late 1970s, you may remember SERPS. SERPS was a financial system created by the government at the time to give people extra money on top of the State Pension. But for young workers in the late seventies, it also … Read more
These reviewers are experts in their fields and professional writers who often work for reputable newspapers and magazines like The New York Times and The Wall Street Journal. Our expert reviewers review our articles and recommend changes to ensure we are upholding our high standards for accuracy and professionalism. Our expert reviewers hold advanced degrees … Read more
Main Points from the Sources: The Social Security Administration said that the Social Security Fairness Act would go into effect. This law gets rid of the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO), which have been lowering benefits for more than three decades. 2 million people. There are several types of lump … Read more
Navigating the process of changing a beneficiary can seem daunting, but understanding the essentials can make the transition smooth and aligned with your estate planning goals. Keeping your beneficiary designations up-to-date ensures your assets are distributed according to your current intentions, avoiding potential legal challenges and family disputes. This guide will help you stay informed … Read more
You may believe that you must be “wealthy” to need a living trust, but that is certainly not the case. Living trusts are becoming a prevalent estate planning tool for many people (and families) whose main assets are their homes, vehicles, etc. This is mostly because setting up a living trust can save you and … Read more
One of the main reasons people plan their estates, besides leaving something for their family, is to avoid probate. So many estate planning lawyers tell their clients to keep their assets out of probate that most people think probate is something that should be avoided at all costs. Is probate bad? It depends on the … Read more
Are you staring at your bank account wondering how on earth you’re gonna retire with basically nothing saved? Trust me, you’re not alone. According to recent data, nearly 40% of Americans have zero retirement savings, and even those who do save only have a median of about $87,000 tucked away. That’s nowhere near enough for … Read more
Its easy to feel like everyone has their financial act together—everyone, that is, except you. But the truth is that a lot of people worry about their money and wonder how they’re doing, especially when it comes to saving for retirement. You might want to look at the average amount saved for retirement by age … Read more
When you retire, you shouldn’t have to worry as much because you won’t have to work full-time and can live your life more on your own terms. Yet for many Americans, financial challenges cloud retirement. In particular, only 37% of retirees do not have any debt, according to an Employee Benefit Research Institute (EBRI) study. … Read more
Ever found yourself staring at your retirement accounts wondering, “How much money can I transfer to a Roth IRA without getting in trouble with the IRS?” If so, you’re not alone! This question confuses tons of people, and honestly, the answer isn’t as straightforward as we’d like I’ve spent hours researching this topic and want … Read more