There are some unique challenges that come with running a family business, especially when it comes to long-term planning for succession and protecting assets. Putting a business in a family trust is a solution that is becoming more popular. But can a family trust really run a business well? The short answer is yes, but … Read more
If your income is below a certain level and meet other requirements, you can put money into a Traditional, Rollover, SEP, or SIMPLE IRA before taxes. You don’t have to pay taxes on the money until you take it out. IRA withdrawal rules and penalty details vary depending on your age. Are you stressing about … Read more
Thinking about retirement but worried about your health insurance costs? You’re not alone. One of the biggest questions federal employees ask me is “How much will my FEHB cost after I retire?” With the recent announcement of a whopping 13.5% average premium increase for 2025, this question is more important than ever. As someone who … Read more
The federal government gives tax breaks to people who put money into a qualified retirement plan, such as an IRA or 401(k). This is done to encourage people to save for retirement. However, there is a catch: if you take the money out of the plan before you retire, you might have to pay extra … Read more
Are you wondering if your Roth IRA investments will get hit with capital gains tax? Good news – they won’t! One of the biggest perks of having a Roth IRA is avoiding capital gains tax completely. But there’s a lot more to understand about how these retirement accounts work tax-wise. As someone who’s spent years … Read more
Are you approaching retirement or already enjoying your golden years? One question that probably keeps popping up in your mind is “What should I do with my money now?” It’s a valid concern. After decades of working and saving, making the right financial decisions during retirement is crucial to ensure your money lasts as long … Read more
Quick Summary Protecting your hard-earned wealth isn’t about illegal concealment—it’s about smart legal asset protection. This comprehensive guide explores how to properly structure assets in trusts to keep them secure from creditors lawsuits, and unexpected financial threats. I’ll break down the various trust options, explain when to act, and outline proven strategies that wealthy families … Read more
After decades of stashing away money in your 401(k), you’ve finally reached the finish line – retirement! But now what? That account balance you’ve been building up for years suddenly needs to transform from a growing nest egg into actual income you can live on. If you’re scratching your head about what to do with … Read more
Key takeaway: Your 401(k) is part of your net worth, but its role in defining “high net worth” depends on liquidity and specific criteria. Hey there! I’ve been diving deep into personal finance lately, and one question keeps popping up in conversations with my friends and family “Is a 401(k) considered an asset?” It’s actually … Read more
This information comes from the National Academy of Social Insurance to help people learn more about Social Security, which is still a big part of how Americans and their families can plan for their retirement. We encourage you to use the information on our site to increase your familiarity with social insurance programs as they … Read more