- New Social Security Plan Could Raise Full Retirement Age
A group of Senators is working on a plan to shore up Social Security by potentially raising the full retirement age, along with other changes to how Social Security benefits are financed. Here’s what you need to know. A financial… read more…
- 401(k) Contribution Deadlines
Contributing to your a 401(k) is one of the most common and simplest ways to save for retirement. If your workplace offers you a 401(k), you can have money taken out each month, so you don’t even have to think… read more…
- What Is FHA Mortgage Insurance?
FHA mortgages and mortgage insurance are government programs intended to help first-time homebuyers and other in-need borrowers get loans to purchase homes. If you have a low credit score and can’t make a large down payment, you might be considering… read more…
- Do You Have to Pay Taxes on a Trust Inheritance?
When making an estate plan, using a trust is a way to make passing assets — including both cash and physical assets — a bit easier. In fact, when using a trust, you can often allow your family to avoid… read more…
- How to Avoid Probate? Estate Planning Guide
Probating an estate is an expensive, time-consuming and sometimes adversarial affair. It is possible, and sometimes advisable, to avoid probate. With the help of an estate planner and, perhaps, an attorney, you can learn how to avoid probate for your… read more…
- What Do Midterm Results Mean for the Secure Act 2.0 and the Future of RMDs and Your Retirement?
With the midterm elections out of the way, the lame-duck Congress will get another chance to pass three different, wide-ranging bills related to retirement that would allow workers to save more money in retirement accounts and hold on to it… read more…
- Medicare Late Enrollment Penalties Are No Joke: Here’s What They’ll Cost You
The government has a long-standing reputation for frowning upon those who can’t meet a deadline, and Medicare is no exception. In fact, if you don’t make your elections before the deadline, you could face a hefty penalty that could follow… read more…
- Mortgage Rates Rise to 6.29%: Here Are the Best Rates
As of today, September 22, the average mortgage rate for a 30-year fixed hit 6.29%, the highest since October 2008, according to Freddie Mac’s Primary Mortgage Market Survey. That’s up 27 basis points from last week and 3.41% from a year ago. The… read more…
- Hammered by Inflation? A ‘Returnship’ Could Keep Retirees From Running Out of Cash
Retirees who find themselves hit by higher prices, lower stock returns and big health care bills might consider boosting their bank accounts by heading back to work – and employers are waiting to welcome older workers back with open arms.… read more…
- Understanding How Retirement Trusts Work
Investors often use trusts to protect their assets and exert control over their estate after they’ve passed away. The problem with trusts is that you cannot place your retirement account within them. However, a retirement trust is a strategy that could protect your estate for your beneficiaries and lower your tax liability. Here’s what you… read more…
- Understanding How Tax Gain Harvesting Works
Most investors are familiar with the concept of “tax-loss harvesting,” which allows you to harvest your losses when an investment has lost money. But, did you know that you can harvest gains as well? When used strategically, tax gain harvesting can save money, reduce taxes, and lower your portfolio’s risk. Let’s break down how it… read more…
- How to Invest in the Stock Market in India
India has the seventh-largest economy in the world, but it was not until the 1990s that it became possible for foreigners to invest in India. Since then, India became a rapidly growing emerging market. The “I” in BRICS stands for India and BRICS is an acronym that stands for Brazil, Russia, India, China and South… read more…
- How to Start a College Fund for Your Baby
If you have a new baby in your household, you know that the first few months of your baby’s life are chaotic. There are so many decisions to make and life has just gotten more complicated. Many new parents start thinking about their baby’s education in the future and may already have done some planning… read more…
- When Do Taxpayers Use IRS Form 706?
When someone passes away, what the person passes down to his or her beneficiaries may be subject to federal estate taxes. If the decedent “skips” a generation in passing along assets then it may trigger a tax bill. IRS Form… read more…
- Real Estate vs. Stocks: Which Is Better?
Real estate and stocks are two of the major classes of assets available to investors. They each offer returns on your investments, but for different reasons. Their risk factors are different as well. In the real estate vs. stocks debate, should you invest in one and not the other, or should you invest in both?… read more…
- Third Stimulus Checks: $1,400 Payments Explained
The IRS has already sent out more than 156 million third stimulus checks, worth approximately $372 billion. President Joe Biden’s American Rescue Plan pays individual taxpayers earning less than $80,000 a maximum of $1,400 and couples making under $160,000 up to $2,800. Let’s break down what this means for you – who is eligible for the third stimulus payment,… read more…
- PPP Loans: Lender List and Requirements
The Paycheck Protection Program (PPP) is closed again. This is the third time since its inception. The first time was when it ran out of its $349 allocation; an interim stimulus bill gave it another $310 billion (with $30 billion set aside for small lenders and… read more…
- What Is a Private Foundation?
Not every charitable organization qualifies as a public charity according to government standards. However, a private foundation earns that distinction. A private foundation is a non-governmental, nonprofit organization set up for charitable purposes. Here’s how it works and what types… read more…
- The Top 10 Places for Creatives in 2019
Some people just have creative juices flowing through them. They need to use their creative instincts all the time, and some are lucky enough to use those talents to make their living. After all, you have to be able to work to build up your savings account, but many creative jobs aren’t as high-paying as… read more…
- How to Retire in Spain
If there’s nothing keeping you in the U.S., why not retire abroad? You have a ton of options from the standard destination of Mexico to a colder retirement in Iceland. Somewhere in between those is Spain, which offers both great… read more…
- Top 10 Personal Finance Reads
This year has created some struggles as well as some great opportunities to increase financial stability by getting back to the basics and investing correctly. Not everyone has had a pleasant year so we’ve put together a list of the… read more…
- The NBA Teams With the Most Die-Hard Fans
There have been 70 total NBA championships since the league’s inception and 44 of those have been won by the same four teams – the Celtics, the Lakers, the Bulls and Spurs. The Boston Celtics alone have won a mind-boggling 17 championships. This lack of parity is something of a curiosity as the current draft system… read more…
- What Is the Wealth Gap? Definition and Overview
You hear a lot about income inequality in the U.S. (particularly in election years), but there’s a wealth gap in this country that some analysts say is even more concerning than the income gap. Let’s take a look at the… read more…
- What Is the Income Gap?
Our incomes, the money we receive as compensation for the paid work we do, varies according to several factors. The type of job we do, the amount of training and experience we have, the resources of our employers and the extent to which we negotiate our salary can all affect our income. But so can… read more…
- The Pros and Cons of School Uniforms
Did you go to a school that required uniforms? Do your kids wear school uniforms now? If you answered “yes” to either question, you probably have strong feelings about uniform requirements in schools. Even if you don’t have a personal… read more…