You can live in a house that your trust owns, but the specifics will depend on the type of trust you have, your role as a trustee or beneficiary, and different legal and financial rules. If you’ve already put your home in a trust or are thinking about it, knowing the rules will help you … Read more
After spending most of our lives working, it’s normal to start to ask ourselves questions like, when can I retire? Do I have enough in my pension? Can I retire at 55?. Retiring at 55 is a genuine possibility for some people. An important goal for many is to retire at age 55. This gives … Read more
Are you a remaining Civil Service Retirement System (CSRS) worker who is getting ready to retire? Or are you just interested in federal retirement benefits? Either way, you may have wondered: what is the average CSRS pension? I’ve researched the latest data and compiled everything you need to know about CSRS pensions, their average amounts, … Read more
Estate fiduciaries, such as executors and administrators, wield tremendous power. They are entrusted with managing the estate (money and other assets) of a person who passed away—the decedent. Fiduciaries are then tasked with distributing the estate to the people entitled—the beneficiaries. Sometimes the job doesn’t get done properly, whether because of intentional or accidental misconduct. … Read more
Owing money that you cant afford to pay can put you in a stressful position, and things can feel even more dire once debt collectors start calling. After all, debt collection agencies have quite a few tools at their disposal to try and compel you to pay whats owed, including lawsuits that can lead to … Read more
To be honest, most of us have dreamed of having enough money to quit our jobs and live happily ever after. But how much money would that really take? Two million dollars sounds like a lot, but is it enough to live on forever? Today, I’m going to answer this question in more detail that … Read more
Starting your retirement savings journey might seem daunting especially if you don’t have a lot of money to begin with. But here’s some good news – you absolutely can open a Roth IRA with just $500 and that modest beginning could grow into a substantial retirement fund over time! Can You Really Open a Roth … Read more
Many savers have made after-tax contributions to a 401(k) or other defined contribution retirement plan. If your account balance contains both pretax and after-tax amounts, any distribution will generally include a pro rata share of both. Example: Your account balance is $100,000, consisting of $80,000 in pretax amounts and $20,000 in after-tax amounts. You request … Read more
Saving for retirement is often overwhelming, especially when you need to prepare for potentially high costs of living in your later years. Sometimes it seems impossible to reach your financial goals, and it’s not clear how to begin or how much to save. Luckily, knowing what to expect and taking steps to make the most … Read more
Are you approaching 60 and wondering if you can start receiving your NHS pension while still contributing to the healthcare system you love? Good news! The answer is a resounding yes – you can absolutely take your NHS pension at 60 and carry on working This option gives many healthcare professionals the best of both … Read more