If you designate beneficiaries for your retirement accounts, that’s usually a surefire way to pass those assets directly to your desired heirs without going through probate—but not always. Because those beneficiary designations are so important, you should verify your choices every year in case there’s a change due to, say, marriage, birth, divorce or death. Especially marriage [...]
Suzy rings up another customer in a party supply store. Surrounded by bright, bouncing balloons celebrating everything from anniversaries to birthdays, Suzy scans a bag of blue plastic spoons while speaking to a friend. Leaning across the checkout counter between bouquets of mylar balloons, the friend gleefully asks, “Hey Suzy! Your birthday is coming up, [...]
The start of a new year is a great time to get your finances in order. This is especially important for seniors who may be living on a fixed income and whose decisions about money could have a profound effect on their security in their later years. There are three specific tasks retirees should complete [...]
The start of a new year is a great time to get your finances in order. This is especially important for seniors who may be living on a fixed income and whose decisions about money could have a profound effect on their security in their later years. There are three specific tasks retirees should complete [...]
Suzy rings up another customer in a party supply store. Surrounded by bright, bouncing balloons celebrating everything from anniversaries to birthdays, Suzy scans a bag of blue plastic spoons while speaking to a friend. Leaning across the checkout counter between bouquets of mylar balloons, the friend gleefully asks, “Hey Suzy! Your birthday is coming up, [...]
THE ONGOING CORONAVIRUS pandemic has pushed many people to make long-delayed decisions about estate planning. Many people will try the do-it-yourself route via various websites or books. Internet DIY websites make it easy to download forms, but there are mistakes people make when they try do-it-yourself estate planning. Here are some issues do-it-yourself estate planners might run [...]
You'll probably count on Social Security to provide you with a fair amount of retirement income. In fact, your benefits could end up constituting your main income source. As such, it's important to approach Social Security strategically. Here are three things you can do to make the most of your benefits and enjoy retirement to the fullest. [...]
LOW- AND moderate-income workers who save for retirement in a 401(k) plan or individual retirement account could qualify for the saver's credit. This retirement savings contributions credit can be claimed in addition to any tax deduction you earn by contributing to a traditional retirement account. Here's how to qualify for the saver's credit on your 2021 tax return: [...]
When you’re starting out, your credit score has a big impact on your financial health. It directly affects your ability to get a credit card or a loan, and it’s the first thing lenders check when you apply for a mortgage. But what if you’re retired? You might not think your score matters much once [...]
You've probably spent a good portion of your life planning for (and perhaps worrying about) retirement. But once you're actually there, will you be able to enjoy it? According to the Holmes-Rahe Stress Inventory, retirement ranks No. 10 in a list of the top 43 stressors -- and that's after death, divorce, and going to [...]