While more investment choices may be appealing, there are some issues to be aware of before taking this direction.
Whether You Are Retiring Now or in 10 Years, the Consolidated Appropriations Act Could Help You Save
Some changes take effect this year, and others are delayed until 2024, 2025, 2026, or even 2033.
Much like caring for a vehicle, financial planning is an ongoing process—not a once-and-done event.
Roth IRAs are not subject to RMD rules.
Full of tricky timing concerns, the rules for IRA withdrawals are commonly misunderstood. Here, we explain five of them.
Looking for ways to make your cash work for you without committing to a long-term investment? There are plenty of options available.
Discover several ways to offset inflation through tax-efficient saving in 2023.
Wondering whether to close out your home loan ahead of schedule? We’ll look at the benefits of doing this—and when it might be better to invest in bonds instead.
Series I savings bonds combine relatively high returns with minimal risks—as long as inflation remains elevated.
Opportunistic tax planning can help extend the life of your retirement savings. Here’s how.
Here, we break down the IRS pro-rata rule—a calculation that helps distinguish pre-tax and after-tax funds.
Withdrawing money early from a retirement account is meant to be a last resort—and can come with consequences. Make sure you know these penalties and exemptions first.
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.
With appropriate income withdrawal strategies, a retiree can lessen their exposure to IRMAA surcharges.
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.
The good news is that there are plenty of legitimate options to avoid the penalties and taxes.
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.
Time is the most important word in our investment vocabulary. If financial independence is the goal, starting today beats waiting until tomorrow.
Affordability, access to healthcare, climate, and culture are just some of the important factors to consider before moving to another state.
Take small steps, make prudent choices year after year, and watch your savings and investments grow.
Retirees will need to pay close attention to means-testing levels to help contain healthcare costs. This requires careful planning before retirement.
If you own large quantities of company stock held within a retirement plan, rolling it into a tax-deferred IRA may not be the best strategy. Learn when a Net Unrealized Appreciation (NUA) transaction is the right choice to maximize your tax efficiency.
Learn about contribution limits for traditional and Roth IRAs and get advice on how to minimize penalties if you’ve contributed too much in a given year.
In planning for retirement, how you save is just as important as how much you save. Learn how you can save tax-efficiently by diversifying your assets across accounts that are taxed differently.
Steps you can take to help ensure that your wealth helps future generations.
It’s never too early to start planning for retirement. By setting a strategy— and sticking to it—you can help achieve your goal of financial independence sooner.
Are you saving enough for retirement? Read about target savings rates and see our strategies for closing the retirement savings gap so you can achieve financial independence.
Understand how the IRS differentiates between these investments when planning how to use the property personally.
Not wanting to be poor when I grew up, I decided the best course of action was to study people who had money. This fascination set me on a lifelong course of studying wealthy and successful people.
You only need to look at historic returns for equities to see that this has been true. Yet it appears that despite this evidence, whenever the equity market is falling, many investors start selling.
Many advisers recommend shopping your automobile policy every two to three years. There are many factors that could have changed since you began insuring through your current carrier.
Johnny Depp was the fifth highest-paid actor in 2016 earning $48 million. Unfortunately, almost all of Depp’s entire $8.7 billion fortune is now gone.
A recent study1 conducted for Northwestern Mutual found one in three Baby Boomers (33%), the generation closest to retirement age, have less than $25,000 in retirement savings.
Many people mistakenly believe their expenses will be half as much as a widow(er) than as a couple. This is true of some expenses, like food and clothing. However, larger expenses related…
Is a life well-lived measured by how much wealth we acquire or is it measured instead by the condition in which we leave our relationships? Leona Helmsley ran a real estate empire…
Roth IRAs are a great way to save for retirement. But what if you have more money to contribute than is allowed in a Roth IRA? We’ll provide important retirement savings tips…
It will come as no surprise that the death of a spouse is consistently listed as one of the most stressful life events a person will face. Death is part of life…
This summer, several large Lancaster-area employers have offered terminated employees, who had a vested benefit in their defined benefit plan, a lump sum payout or even an early immediate annuity for their…
Studies estimate the baby boom generation is set to inherit $11.6 trillion over the next 20 years from their parents. The baby boomers are expected to pass on as much…
Property title questions during financial planning interviews often draw blank stares. Yet, understanding the differences among tenants-in-common, joint tenancy and community property is important for creditor protection issues, estate planning,…