As a general rule of thumb, you usually have to start withdrawing from your IRA, SIMPLE IRA, SEP IRA or other retirement plan account when you reach the age of 70 1/2. Click through to read all about how you can instead wait to start taking out withdrawals when you turn 72. When making minimum […]
All money is still only money, but savers and investors easily fall prey to the fallacy of creating mental categories for dealing with their assets. This may depend on how the investor earned their money or if they feel an emotionally attachment to their dollars. Click through to learn about a more rational way of […]
Summary: Many homeowners sell their houses at a profit, which raises questions about taxation. Fortunately, the IRS gives breaks on these profits. Click through to learn about some hidden details that can save you a lot of money. The tax code authorizes “exclusions” that allow home sellers to completely sidestep federal and state income taxes […]
Summary: It happens periodically: Investors decide to unload securities that have fallen in price, which leads to a rapid plunge. What are the signs and what can you do? Click through for some insights into the fast-moving market change. A chamade was a Napoleonic drumroll that signaled to the enemy that an army was ready […]
Summary: When investors open a new brokerage account or when they update their account information, they may want to provide a “trusted contact.” Click through to learn what this means and why you need to take it seriously. Your brokerage is going to ask you for a “trusted contact,” and some investors may provide the […]
Summary: It doesn’t matter whether your business brings in $50,000 a year or $50 million — it needs an effective bill-paying system. Click through for some tips on building and managing an efficient accounts payable process. The term “accounts payable” encompasses almost all the non-payroll payments a business makes. It’s an integral part of […]
Summary: Contrary to popular belief, you don’t need to be a Silicon Valley billionaire to create a trust. How do you know if a trust is the right tool for you? Click through to see why a trust can be a useful estate-planning tool for lots of people. A trust can be a useful […]
Summary: Almost all homebuyers will need homeowners insurance, but with all the choices insurers give you, choosing the right policy can be complicated. Click through for some useful background to know before you sign on the dotted line. Are you a first-time homebuyer? You’ve got a lot to budget for — your down payment, […]
Summary: Do you need a trust, or is a will enough? Many people think that trusts are just for the very wealthy, but even those with modest incomes may find them useful. Click through to learn whether a trust is right for you. When people think of trust funds, they think of large estates and dynastic […]
Wills and trusts are two of the most versatile and powerful tools you’ll have when making long-term plans for your estate. But what are the differences, and which one should you use? Click through for a review of wills and trusts. A will is a written document expressing your wishes for disposal of your estate […]