Summary: Retiring with no monthly mortgage payment sounds like a good financial plan, right? Usually. But there are times when not rushing to pay off your mortgage balance before retirement makes financial sense. Click through to know what’s right for you. For many people nearing retirement age, it makes financial sense to pay off their […]
Retirement plans are becoming more supercharged. Auto-enrollment and other key provisions are being phased in, meaning big changes are on the horizon for both employees and employers. Click through for more information about these changes and key details regarding the Setting Every Community Up for Retirement Enhancement Act 2.0. The SECURE Act 2.0 has a […]
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 […]
Did you know that you can start receiving Social Security benefits at the age of 62, 70 or anytime in between? The longer you wait, however, the more you’ll receive per month, though for a shorter period of time. Click through to work out your decision and determine how to make such tough calculations.How does […]
Are you expecting your assets to be transferred to your heirs efficiently and effectively by way of a well-designed trust? Unfortunately, there are many common mistakes that often arise, which can disrupt your plans and frustrate your loved ones in the process. Click through for tips on how to avoid some of these common problems […]
Is your 401(k) plan compliant? You can find out by conducting your own internal 401(k) audit. Click through to learn about six crucial areas to check. Under IRS and Department of Labor rules, employers whose 401(k) plans have over 120 eligible participants on the first day of the plan year must hire an Independent Qualified […]
Summary: The limit for the Retirement Savings Contributions Credit has been raised. Also known as Saver’s Credit, the increase in this tax credit is intended to help low- and moderate-income workers save more money in 2023. Click through for more details about who is eligible for the Saver’s Credit and how to apply for this […]
Summary: The step-up in basis provision is a powerful tool in the estate planning workbox. It helps families shield inheritances from estate tax. Click through to learn about its history and — most importantly — what it means for you. The step-up tax adjustment has been under siege for decades but has so far survived the […]
Summary: Trusts are powerful estate planning tools, but before you create one, you need to know which kind is right for you and how they work. Click through for an overview of the different types of trusts so you can make an informed decision.Trusts are used in estate planning to transfer assets to beneficiaries. Trusts […]
One of the most important decisions you will make as part of your estate plan will be choosing an executor — the person who will carry out your final wishes. Click through for a look at the duties in order to help you choose someone who is up to the tasks.When you write a will, […]