The home sale process is filled with uncertainties, such as how long it will take to sell and if you will get your asking price. But there's one question that doesn't have to remain a mystery: whether you will owe taxes on the sale of your home.
Are you still paying your children’s phone bill or offering financial assistance when they ask for it? Supporting your adult children can decrease your chances of a quality retirement and inhibit their growth. If it’s time to cut the cord, follow these four steps to ease the process!
If nothing else, the recent failures of Silicon Valley Bank and First Republic Bank highlighted the importance of Federal Deposit Insurance Corporation (FDIC) insurance. FDIC insurance protects deposits at member banks in the highly unlikely chance that a bank goes under. There are rules and limitations to consider – this is banking, after all – so here’s what you, the nonprofessional, should know about FDIC insurance.
Retirement is a milestone we’re all working hard to reach. But sometimes this goal can feel so distant that it’s more like a dream—especially after the last few years we’ve had. But you’ve worked too hard in life not to reach the retirement you’ve dreamed of.
What would you do if you received an inheritance of money? Most people don’t think about this unless they already know it’s coming in the near future. Even then, it can be overwhelming to face all the options you may have and decisions that need to be made as to what to do with the money.
Most financial experts advise that you should plan to have saved enough money to generate 80% of your pre-retirement annual income each year in order to retire comfortably. Is that a goal that you feel you can reach or is it a stretch?
Most of us only deal with taxes during tax season, and then we ignore them the rest of the year. However, one of the best ways to retain more of your wealth is to reduce the burden of taxation. An ongoing tax strategy can reduce your tax bill and keep the IRS away from as much of your money as possible.
It’s hard and often counterproductive to comment about breaking news while it’s still moving through the proverbial grinder — which is why we usually don’t. However, we feel it’s worth commenting on the growing number of regional bank runs.
Confused about the SECURE Act 2.0? Take a look at our rundown of the new legislation and how it changes your retirement.
There are many ways to give back during retirement, but one way is to donate your required minimum distributions (RMDs) directly to a charity.