You’re finally retired but the journey is not over. There is still plenty of planning left to do. We will discuss what needs to be done in Phase 4 of your…
Transitioning from work to retirement might be the biggest financial challenge people face. We’ll cover planning during Phase 3 of your retirement journey on this edition of Project Wealth.
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.
The good news is that there are plenty of legitimate options to avoid the penalties and taxes.
Don’t leave money on the table.
Could a happy retirement still include working, but only doing the parts of our jobs we enjoy?
Passing on your story provides something deeper than wealth.
It’s just as important to diversify how funds are saved as it is to diversify how they are invested.
Widows and widowers whose spouses were younger than 72 at the time of death need to examine their options carefully before rolling over their spouse’s IRA.
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.
Until you reach age 59 ½, attempting to access tax-deferred retirement accounts could trigger taxes and penalties.
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If money is taken from an IRA before age 59 1/2, a 10% excise tax penalty is applied to the amounts withdrawn—unless it meets one of the twelve exceptions.
The difference can be summed up in two words: intraday trading. Unlike mutual funds, ETFs can be bought and sold anytime throughout the day.
Affordability, access to healthcare, climate, and culture are just some of the important factors to consider before moving to another state.
529 plans can be a good option for both college and K‑12 savings. But to avoid paying taxes or early withdrawal penalties, it’s vitally important to keep up with any changes to the rules.