While you might think you can do your retirement planning yourself, you could still benefit from working with an advisor. You might be able to learn everything, but those working with an advisor were more confident about and happier with their retirement plan. They were also more likely to have a written retirement plan in […]
Collectibles like art, and antiques pose special estate planning challenges and opportunities. Here are some tips to painlessly drive this wealth needle. Source: Astute Estate Planning For Art, Antiques And Valuable Collectibles | Forbes
When it comes to saving for retirement it can be challenging to determine the best place to invest your money. Should you save in your 401k? Should you set up an IRA? How about a Roth IRA? Well, as most things in personal finance, it is personal to you as there are a lot of […]
A durable power of attorney is an exclusive type of power of attorney. A durable power of attorney is distinctive from a regular power of attorney and allows the agent to act on the principal’s behalf beyond the incapacity of the principal. A durable power of attorney may be immediate or springing. The immediate power […]
Taxes are confusing by themselves, much less adding the complexity of the various types of retirement savings options. Often headlines that say, “The Best Way to”, over simplify and lead to even more confusion. To learn about tax advantaged retirement savings, we need to look at three taxation components: when saved, while earned (interest, dividends […]
There are some situations where it may make sense for some individuals to save for retirement in taxable accounts instead of in retirement accounts. Source: 4 Reasons For Saving For Retirement In A Taxable Account | Forbes
You have two main options after inheriting a retirement account. Withdraw all of the money and receive a whopping tax bill, or move the inherited 401(k) or IRA into a Beneficiary IRA (aka Inherited IRA) and defer taxes until you make withdrawals. There are some rules that need to be followed if you want to […]
The costliest mistake people make with their IRAs doesn’t involve how they invest their funds or even their savings strategy. No, the single greatest blunder often goes undetected because, as many no doubt say when they’re opening their IRA account, “It’s something I can take care of later.” What is it? It’s neglecting to name […]
Happy Memorial Day! Honor our fallen heroes and vets who defend our nation.
We get it: Nobody wants to contemplate his or her own mortality. And you may even feel that, in the context of death, questions about who gets which of your assets seem trivial. That might explain why numerous recent studies have found that only between 35% and 45% of Americans have a will. Source: 10 […]