In a 2002 interview with Mike Wallace, former First Lady Nancy Reagan said she often reread the love letters written by her husband, former President Ronald Reagan. The letters, which had sustained and enriched their relationship, helped Mrs. Reagan reconnect with her husband and remember the man he was before Alzheimer’s claimed him.1 An excerpt […]
Spousal beneficiary mistakes are common, and making financial decisions in a time of grief can be especially challenging. Factors such as your age and income needs should be considered prior to making any changes to an inherited spousal IRA. For more key considerations, click here to download “Avoiding Spousal Beneficiary Mistakes in 5 Easy Steps” […]
If you’ve changed your mind about your 2016 Roth conversion for any reason, you can still “undo” it with a Roth recharacterization. You’ll need to move quickly, though, as the deadline for recharacterizing 2016 conversions is fast approaching. Roth recharacterizations provide investors with a “do-over” option, which isn’t common in the tax world. Before making […]
In the midst of back-to-school season, you may be considering helping a child, grandchild or loved one with the cost of higher education. Record-high tuition costs have many families exploring the various options available to them including 529 plans and Coverdell accounts, but many fail to realize that a Roth IRA could also be a […]
If you have more than one person in your life that you’d like to include in your legacy plan, you may be considering listing multiple IRA beneficiaries. While this option is a great way to leave your assets to multiple loved ones, it can also leave your beneficiaries in a messy situation if not set […]
Life can get hectic, especially when you’re trying to balance raising your children and caring for your aging parents. Finding the time to plan for your retirement may seem impossible, but it’s crucial to make plans today for your financial future. How much should you be contributing to your retirement accounts? Should you consider a […]
Who’s been buying shares of company stock? Since the start of the bull market in 2009, U.S. companies have been buying their own stock. Stock buybacks peaked during the first three quarters of 2016 and have dropped off sharply since then, reports Financial Times citing a report from Goldman Sachs. Companies participate in stock buyback […]
One of the most important decisions you’ll make about your retirement is when and how to take your Social Security benefits, but it’s crucial that you understand potential tax implications prior to doing so. For many retirees that will have additional sources of income in retirement, Social Security benefits can push you into a higher […]
Avoid the 10% Tax Penalty in 5 Easy Steps Emergencies happen, plans change, and sometimes you just change your mind. If you’re looking to tap into your retirement account earlier than planned, you may be wondering what type of penalties you could be up against. For most retirement accounts, if you decide to make a […]