Receiving a lump-sum settlement can have important implications for individuals on Social Security Disability Insurance (SSDI). When an individual who receives SSDI benefits is awarded a one-time payment, it’s essential to understand how this additional income can alter their benefits. The Social Security Administration has specific rules for offsetting SSDI payments when public disability benefits … Read more
Have you ever looked at the amount of money in your retirement account and thought, “Is this enough?” Or maybe you have put off planning for retirement because it seems too much to handle. It’s like trying to guess the weather 20 years from now when you’re trying to figure out how much money you … Read more
While pre-tax contributions are typically the 401(k) contribution of choice for most high-income earners, there are a few situations where individuals with big incomes should make their deferral contributions all in Roth dollars and forgo the immediate tax deduction. As a financial advisor who’s been working with high-income clients for years, I’ve noticed a surprising … Read more
Losing a loved one is never easy, and dealing with the legalities that follow can add to the stress. One common question that arises is whether you can empty a house before probate is completed. Most of the time, the short answer is no, because probate laws say that the estate’s assets must stay in … Read more
A Roth individual retirement account (Roth IRA) gives you a chance to grow your money over time by investing already-taxed dollars in a range of different securities. In retirement, your qualified withdrawals are tax-free—provided you satisfy a few basic rules. 1 Although Roth IRAs can offer a powerful and flexible way to save and invest … Read more
Having the option to take an early retirement is a really nice thing to have. Just how much money do you need to retire at age 55? If you want to do it, you’ll need a good plan, to be able to keep your spending in check, and savings that aren’t in a retirement account. … Read more
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If you are still waiting for an economic impact payment or a new, fourth stimulus check in 2025, read on. You will also learn about President Trump’s possible tariff rebate and how to check on the status of your state or federal tax refund from the IRS without taking advantage of you. Reports say that … Read more
Your State Pension age is the earliest age you can start receiving your State Pension. It may be different to the age you can get a workplace or personal pension. The State Pension age is regularly reviewed, so the results of this tool may change in the future. You can read about the launch of … Read more
Have you ever been afraid that Social Security would suddenly stop sending you checks? Maybe you’ve heard of friends or family who lost their benefits without warning. I’ve been doing a lot of research on this subject, and I want to share what I’ve learned about when and why Social Security might stop sending those … Read more