Preparing Heirs for Their Inheritance
Inheriting money can be a dream come try by unlocking new opportunities and removing some of life’s stumbling blocks, but it can also be a burden for the unprepared. Knowing what to do with the money they receive can be stressful for your heirs, since they may be confronted with unique challenges they’ve never considered. […]
The Family Guide to Savvy Generational Planning
No one enjoys facing end-of-life choices for their loved ones. Past generations found it so painful that they often kept their affairs private until their will was read, which led to even more pain after there was any hope for making a change. Avoiding this topic is easy, but is often harmful. Inheritors don’t want […]
5 Smart Investing Principles
There’s no shortage of DIY investing advice online, especially with what’s going on in the market. Unfortunately, a lot of this advice can be confusing because they express opposing viewpoints or introduce complex ideas without expressing the foundations they’re built on. For example, you aren’t proficient in driving without first learning some key principles like […]
10 Years and Counting – Points to Consider as You Approach Retirement
If you’re a decade or so away from retirement, you’ve probably spent at least some time thinking about this significant life change. How will you manage the transition? Will you travel, take up a new sport or hobby? Will you spend more time with friends and family? Will you continue to work in some capacity? […]
7 Tax Investment Mistakes
The tax code is dense and complicated, and it’s easy to make mistakes. Even if you do everything else right, making only one or two tax mistakes can cost you a fortune. In this article, I’m going to show you a few simple solutions to help you avoid the most common tax mistakes people can […]
5 Keys to Investing for Retirement
Retirement is good and admirable if you have two essentials – much to live on and much to live for. But sometimes, it can be overwhelming to decide on one’s retirement account when preparing for retirement. You may feel this way because you feel you have little knowledge of investments. However, your feelings are understandable. […]
Deciding When to Retire: When Timing Becomes Critical
Deciding when to retire isn’t one decision, but many. That’s because there are a lot of factors to consider when you want to plan it right. For example, you need to estimate not only your expenses but also what sources of retirement income you’ll have and how long you’ll need that income to last. That […]
401(k) In-Plan Roth Conversions
Many people want to know whether or not they should keep their 401(k) or convert it into a Roth when they change jobs, and for good reason. Choosing to keep your money in a 401(k) or convert to a Roth can make or lose you a lot of money in the future. Before I get […]
The Guide to Taxes and Your Retirement
No matter how long you enjoy working, a day will come when you’ll have to retire. The good news is that many people are now entering retirement and are doing so with a significant amount of money in investments coupled with retirement accounts to supplement their social security. However, it is sad that many retirees […]
3 Stretch IRA Alternatives
The passage of the SECURE Act in 2019 effectively eliminated the stretch IRA, an estate planning strategy that allowed an inherited IRA to continue growing tax deferred, potentially for decades. Most non spouse beneficiaries, including children and grandchildren, can no longer stretch distributions over their lifetimes. Moreover, proposed IRS regulations require most designated beneficiaries to […]
