As a financial planner, I’ve noticed many clients are confused about whether they can put their Roth IRA in a trust. The short answer is you can name a trust as the beneficiary of your Roth IRA but a trust cannot directly own a Roth IRA during your lifetime. This distinction is crucial for proper … Read more
Hey there, retirement savers! If you’re working for a nonprofit organization, university, or in the education sector, you’ve probably heard about 403(b) plans. But here’s a question I get asked all the time: can you have both a Roth 403(b) and a traditional 403(b) simultaneously? “Yes, you can!” is the short answer. In fact, it … Read more
Ever wondered if the ultra-wealthy use the same retirement accounts as regular folks? I’ve been researching this question for weeks and what I found might surprise you. Yes, millionaires absolutely do have Roth IRAs—and they’re leveraging them in ways most of us never imagined possible! By the end of 2022 there were a staggering 280300 … Read more
Have you ever thought about what it means to be truly wealthy? Most of us immediately picture piles of cash or hefty bank accounts. But wealth extends far beyond just dollar signs. In fact, there are numerous types of wealth that contribute to a fulfilling life, and some of the most valuable forms can’t be … Read more
Being named both an executor and beneficiary of an estate can feel like wearing two hats at once. It’s actually more common than most people think yet it comes with unique challenges and responsibilities. If you’ve found yourself in this position—or are considering naming someone to serve in both roles—you need to understand how these … Read more
The Veterans Pension program provides monthly payments to wartime Veterans who meet certain age or disability requirements, and who have income and net worth within certain limits. Find out if you’re eligible for this benefit. Are you wishing you could retire from the government? I’ve done a lot of research on federal retirement systems, and … Read more
An irrevocable trust cant be changed or cancelled unless its beneficiary or a court allows it. Ever wonder who owns that nice beach house or investment portfolio after you put it in an irrevocable trust? The answer might surprise you, and it’s important to know if you’re thinking about using this powerful way to protect … Read more
After decades of stashing away money in your 401(k), you’ve finally reached the finish line – retirement! But now what? That account balance you’ve been building up for years suddenly needs to transform from a growing nest egg into actual income you can live on. If you’re scratching your head about what to do with … Read more
Imagine a retirement where you don’t have to worry about money and can travel the world or drive around the country in a brand-new RV. Even with exclusive access to the same cheat sheets we use to help our clients retire, making your $2 million last in retirement is hard. This question is a common … Read more
Automated Teller Machines have evolved significantly since their introduction in the 1960s. ATMs were first made to give out cash when banks weren’t open. Now, they can do many things, like deposit checks and move money between accounts. Today, there are over 3. 5 million cash machines worldwide that are visited by users on average … Read more