What steps might help you sustain and grow your retirement savings? “What is your greatest retirement fear?” If you ask retirees that question, “outliving my money” may likely be one of the top answers. Retirees and pre-retirees alike share this anxiety. In a 2014 Wells Fargo/Gallup...
Families should know about these new tax-advantaged savings vehicles. Families with special needs children have a new tax-advantaged savings option. The ABLE account, also called a 529A savings account, is patterned after the popular 529 savings plan created to help parents save for a child’s higher...
Yes, you can take an IRA distribution in the form of an investment. This may surprise you: you can take an IRA distribution in a form other than cash. This may seem unorthodox, but it can make financial sense for some older IRA owners as well...
You can plan to meet the costs through a variety of methods. How can you cover your child’s future college costs? Saving early (and often) may be the key for most families. Here are some college savings vehicles to consider. 529 plans. Offered by states and some...
Today’s retirees must be more self-reliant than their predecessors. Decades ago, retirement was fairly predictable: Social Security and a pension provided much of your income, you moved to the Sun Belt, played tennis or golf, and you lived to age 70 or 75. To varying degrees, this...
Do it smartly, without the all-too-common missteps. According to Sallie Mae, U.S. families with one or more college students spent an average of $24,164 on tuition, housing, and linked expenses in 2015. That was 16% more than in 2014.1 Statistics like these underline the importance of saving...
For many married couples, filing jointly is a good idea, but there are exceptions. Ninety-five percent of married couples file joint federal tax returns. Filing jointly can be convenient. Frequently, there’s a financial advantage, but that does not mean it should be done without consideration.1 Years ago,...
The five phases of life after 50 & the considerations that accompany them. The journey to and through retirement occurs gradually, like successive chapters in a book. Each chapter has its own things to consider. Chapter 1 (the fifties). At this stage of life, retirement becomes less...
Learn about the two new tax perks for these college savings vehicles. Do you have a 529 plan account? Then you will want to know about a pair of federal tax law changes which may benefit you and your student, one involving a February 16 deadline. As...
As the central bank starts tightening, some positives & negatives may emerge. Economists widely expect the Federal Reserve to raise interest rates this month. Additional incremental rate hikes may follow in 2016. If you are retired (or soon will be), you will want to consider...