If youâre struggling with money or trying to pay off debt, it can feel like youâre just barely keeping your head above water. And if things get bad enough, it may be tempting to use some of your retirement savings to make things easierâespecially if retirement looks far away. While this might help in the … Read more
When it comes to managing your life as a retiree, you’ll need to keep abreast of the yearly Social Security tweaks and adjust your budget accordingly. This includes not only the amount youll receive but also when benefit payments are distributed. This schedule varies from person to person. To help you keep track of your … Read more
Being responsible for someone else’s property after they die isn’t easy, let’s face it. One of the most important things to know if you’re an executor in someone else’s will or looking for information about the person who is taking care of your loved one’s estate is whether or not the executor gets paid. The … Read more
Are you worried that you’ll lose your Social Security benefits because you’re still working? Good news! Not all income counts toward your Social Security earnings limit! I’ve helped hundreds of clients figure this out, and today I’m going to explain it all to you. If you’re under your full retirement age and receiving Social Security … Read more
You put something in a trust, but now you want to know if you can get it back. What if you need to sell or refinance it? What if your family situation has changed? No matter the reason, taking property out of a trust isn’t always as easy as you might think. However, it is … Read more
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