The best way to avoid investing bias is to learn how it commonly shows up—and to pursue an objective investment strategy.
Deciding when to begin Social Security benefits is complicated. Weighing these factors, and running careful tax projections, can help.
Learn how diversifying your taxability (not just investments) is key to creating a sound retirement plan.
If managing your financial accounts feels clunky or time-consuming, a money management app can help you track spending, savings, and performance. Here are three to consider.
Taxpayers reaching age 72 should be aware that a portion of the funds in their retirement accounts starts to become taxable each year—and pitfalls are common.
With appropriate income withdrawal strategies, a retiree can lessen their exposure to IRMAA surcharges.
Studies have shown that some heirs ultimately end up in worse financial shape after receiving an inheritance. This is so common that psychologists call it sudden wealth syndrome, although it is not an actual psychological diagnosis.
These misperceptions can end up costing you a lot of money, and more importantly, years of your life working for someone else rather than pursuing your passions.
You may be shocked to learn that new national and state laws may have prohibited your agent’s power to act.
Preparing for retirement might be the single biggest financial challenge most people face. We’ll cover planning Phase 2 in this episode of Project Wealth.
Don’t leave money on the table.
Could a happy retirement still include working, but only doing the parts of our jobs we enjoy?
It’s just as important to diversify how funds are saved as it is to diversify how they are invested.
Do not spend money that has been accumulated for financial independence. Invading long-term savings extends the time it will take to achieve a goal.
The new rule for adults who inherit an IRA from their parents in 2020 and beyond is that they must liquidate that account within 10 years.
When Inheriting an IRA there are complex rules you will need to follow to avoid costly errors.
Time is the most important word in our investment vocabulary. If financial independence is the goal, starting today beats waiting until tomorrow.
A premium bond has a coupon rate higher than the prevailing interest rate for that particular bond maturity and credit quality. A discount bond, in contrast, has a coupon rate lower than the prevailing interest rate for that particular bond maturity and credit quality.
With the passage of the SECURE Act inherited IRAs from those who passed after December 31, 2019 are no longer allowed to stretch the withdrawals over their life expectancy.
If money is taken from an IRA before age 59 1/2, a 10% excise tax penalty is applied to the amounts withdrawn—unless it meets one of the twelve exceptions.