A large inheritance can be both a boon and a burden—a boon because the money could come in handy someday, and a burden because it imposes a certain responsibility on the recipient to use it wisely and not squander it. Heres a step-by-step guide for anyone who has received or is anticipating to receive a … Read more
When it comes to the tax rules for 401(k) contributions and withdrawals, accountants need to stay up to date so they can help their clients make decisions that will save them the most money in the long run. Let’s take a look at some commonly asked questions and answers on 401(k) tax considerations for contributions … Read more
It can be hard to save for retirement because the goal is always moving. How much is enough? Will I end up eating cat food in my old age? (I hope not!) Let’s clear things up and find out what a good nest egg for retirement in 2025 looks like. The Million-Dollar Question (Literally) According … Read more
Learn more about claiming your Social Security benefits and forward-looking tax planning with our downloadable guides: the Social Security Decisions Guide and Tax Reduction Strategies. Click below to download: It’s been years of hard work, and now you’re getting closer to that magical $1 million mark in your retirement accounts. First off congrats! That’s no … Read more
Are you approaching retirement or already enjoying your golden years? One question that probably keeps popping up in your mind is “What should I do with my money now?” It’s a valid concern. After decades of working and saving, making the right financial decisions during retirement is crucial to ensure your money lasts as long … Read more
Paying into the Local Government Pension Scheme (LGPS) can be one of the best ways to safeguard your future. The LGPS is amongst the largest pension schemes in the UK and offers many unique benefits. Whether you are already paying in, or are a prospective member considering joining us, this article aims to break down … Read more
Suze Orman is right. In order to retire early, you need at least $5 million in investable assets. With interest rates so low, it takes a lot more capital to generate the same amount of risk-adjusted income. Before the coronavirus pandemic, there was maximum Fear Of Missing Out (FOMO) with the Financial Independence Retire Early … Read more
“Expert verified” means that our Financial Review Board thoroughly evaluated the article for accuracy and clarity. The Review Board is made up of financial experts whose job it is to make sure that all of our content is fair and unbiased. Bankrate is always editorially independent. While we adhere to strict , this post may … Read more
Turning 70 is a major milestone, and for many, it brings a clearer focus on preserving income, simplifying finances and making sure retirement savings last, especially in todays unusual economic landscape. With traditional pensions becoming less common, stock market volatility at the forefront of many retirees minds, and inflation ticking back up, the idea of … Read more
The question “can I retire with 3 million” is becoming increasingly relevant as more Americans contemplate early retirement. The average age to retire in the United States is 61, so many people are wondering if they can retire with $3 million. Understanding your financial requirements is crucial, particularly when considering variables like inflation and healthcare … Read more