As you check off your to-do list for the end of the year, don’t forget to look at your retirement savings. Whether it is an individual retirement account, an employer-sponsored plan like a 401(k), or a brokerage account, assessing your portfolio is crucial. There’s no better...
Deciding when to claim Social Security retirement benefits is probably one of the most important financial decisions you will make in your lifetime. The stakes are high. If you claim too early, you’re signing on to receive reduced benefit checks for life. But if you get the...
Charitable remainder unitrusts allow a donor to have a steady income stream while sidestepping capital gains tax. Let's discuss CRUT's in more detail. Basic Setup of a Charitable Remainder Unitrust A charitable remainder unitrust (also called a CRUT) is an estate planning tool that provides income to...
Most Millennials have fairly straightforward finances now, but that's poised to change. As Baby Boomers retire at the rate of 10,000 per day, members of younger generations are stepping forward to succeed them. More than one-third of the U.S. labor force is composed of Millennials,...
Tax diversification is the practice of saving for retirement through a variety of retirement vehicles with different tax treatments. Instead of putting all your eggs in one basket, you spread your savings out among types of accounts to minimize your tax bill as much as...
Should I Pay Off My Mortgage Before I Retire? Paying off your home mortgage before you retire is a major financial achievement, but you don't necessarily have to eliminate all housing debt in order to retire well. Low mortgage interest rates mean it can make financial...
My father died and I am the executor. What do I do? When this question gets asked of me, my client is typically in a panic. I do not know of many who relish the job of executor, no matter how prepared you may be. Family...
There’s still time to shave a few bucks off your 2019 tax bill — if you act quickly. The 2018 tax season came with harsh lessons for some taxpayers who didn’t properly adjust their plans for the Tax Cuts and Jobs Act. This overhaul of the tax...
Relocating for retirement and trimming the budget line for taxes are among the many tasks pre-retirees and retirees have on their to-do lists. Many people consider checking off both items by moving to a state with low taxes or tax breaks that specifically benefit older...
Most Americans need to work right up until their 60s — or later — to have enough money for retirement, but how much they’ll save highly depends on the type of job they have, especially if that work is in the gig economy. Older workers are...