Millions of Americans get yearly health checkups to ensure their bodies work the way they’re supposed to. So, why not do an annual financial health check to take the pulse of your money matters? Follow along to learn what a financial health check is and what you should consider when doing one. What You Need…
Every year, the IRS makes changes that could affect your tax return. The year 2022 is no different. In November 2021, the IRS announced several updates for the 2022 tax year—and these will affect the federal tax return you file in 2023. Generally, the most recent tax changes were made to account for inflation. Tax…
From 1985 to 1992, millions of American TV viewers tuned in each week to The Golden Girls so they could catch the latest escapades of four older women—Blanche, Dorothy, Rose, and Sophia—sharing a home in Miami. Millions more TV viewers around the world now watch the show’s reruns in syndication. The award-winning NBC sitcom derived…
A survey by the Gallup polling organization pinpoints 62 as the average retirement age in the U.S. But since that’s an average, it’s clear that not everyone is picking that as their retirement age. Some folks might want to retire early, at age 50. Others may wish to time their exit from the workforce at…
Many retirees rely heavily, if not completely, on Social Security benefits. However, Social Security might not be enough to live on for many of us. As U.S. News & World Report points out, “Social Security was designed to supplement income, not replace it entirely.” To complicate matters, some experts wonder just how stable the Social…
Athletes depend on them. So do software developers. And you, as someone with financial goals, also should rely on them. Who are we talking about? Teammates. In sports, business, and life, we lean on teammates to help us achieve success. So who should financially successful people have on their team? We look at these seven…
When it comes to managing your retirement portfolio, you can put the power entirely in your own hands. In other words, you can sit in the driver’s seat as you travel along the road to retirement. Fortunately, thanks to the proliferation of technology and the abundance of information online about retirement, you have a variety…
Estate planning may sound like something that’s just for “old folks.” It’s not. At almost any age, adults can benefit from estate planning. The need for estate planning becomes even more crucial once you’ve had children. Read on to learn what estate planning is, when you should start estate planning, and the advantages of getting…
Democrats in the U.S. House have proposed closing the “backdoor” Roth IRA strategy as part of an effort to pay for a multi-trillion-dollar budget package. Learn what it could mean for your retirement if the legislation passes, along with some potential moves you might make to help protect your money. What Is the Backdoor Roth…
You’ve probably heard that Americans on the whole aren’t saving enough for retirement. And while that may be true in general, plenty of folks are smartly setting aside money for the future. Here’s a look at the bright side of retirement in America. Three fourths of Americans Have Retirement Savings. Yahoo Finance notes that PricewaterhouseCoopers’…
Never rebalancing. Cashing out your savings. Forgoing tax planning. These are just three of the ten biggest retirement mistakes that could leave you with a ghost of a retirement portfolio. Take action now to help avoid these retirement missteps. 1. Failing to Diversify Your Portfolio Diversification can help put you in the driver’s seat in…
The best time to retire isn’t always tied to your age. Financially, is there a better month or season to retire? February or November? Summer or fall? Learn when might be the best time of year to retire from a financial and tax perspective and get tips for end-of-year tax planning now. When Is the…
