It can be hard to get ready for retirement when the economy is uncertain, and even retirees who have carefully planned are feeling the effects of the current situation. One big problem is that the stock market keeps going up and down without warning, which makes it harder and harder to use stocks and bonds … Read more
So you’re about a year away from saying goodbye to that alarm clock, those commutes, and the daily grind. Congrats! But before you pop the champagne and delete all your work emails, there’s some serious prep work to be done. I’ve helped many folks navigate this transition, and I can tell ya – the year … Read more
When you’re planning for retirement, you should think about how to invest your money and how you might get money in the future, like from Social Security or a retirement account. However, one very important element of retirement that is often overlooked is maintaining an adequate emergency fund to cover any unexpected expenses that may … Read more
Looking forward to your golden years? Let me tell ya, nobody wants to share their hard-earned retirement nest egg with Uncle Sam! After decades of working and saving the last thing you need is a hefty tax bill eating away at your retirement income. I’ve helped dozens of clients navigate the complex world of retirement … Read more
If you’ve spent years in a permanent job, you can get very used to a regular income. And if you haven’t always been in paid work, the thought of guaranteed payments dropping into your bank account in a nice, predictable way can be very appealing indeed. That can be one of the advantages of retirement. … Read more
A Roth IRA can be a great way to put money away for retirement, letting you save and invest dollars youve already paid taxes on, and potentially freeing you from worry about taxes in retirement when you withdraw the money. But many Roth IRA account owners may not understand the 5-year aging requirement, also known … Read more
Receiving an inheritance can be exciting, but there are tax implications when you inherit money or property. Whether your inheritance is taxed depends on the amount youre inheriting and the state you live in. Here’s what you need to know about inheritance tax and how to pay as little as possible if you recently got … Read more
If you dont properly protect your assets, they can potentially be lost in a lawsuit, bankruptcy, or to other creditor actions. Its important to understand the laws that can provide asset protection and to know what measures you can take to protect your savings. Are you afraid that creditors will come after your hard-earned money? … Read more
It’s not unusual for people who are deeply in debt to look to their 401(k) as a possible way out. There are a lot of Americans who are stuck between their growing credit card balances and the allure of their retirement savings. But there’s something important you need to know before you take out that … Read more
Are you scratching your head trying to figure out how to report that IRA distribution on your tax return? Don’t worry – you’re not alone! Every year, millions of Americans take distributions from their Traditional IRAs and then face the sometimes confusing task of properly reporting these withdrawals to the IRS. In this comprehensive guide, … Read more