Have you ever wondered what happens to your stuff after you’re gone? If you don’t plan carefully, your loved ones might end up dealing with something called “probate” – a word that makes many estate planning experts cringe I’ve researched this topic extensively, and today I’m sharing why avoiding probate might be one of the … Read more
Is Social Security taxed after age 70? Your need to pay taxes on Social Security benefits depends on your income and filing status rather than your age. The new Senior Deduction included in the One Big Beautiful Bill will lower taxes for many seniors and might make it so that you dont have to file. … Read more
Compare your average Social Security check with others of your age, and plan for the future. When you purchase through links on our site, we may earn an affiliate commission. Here’s how it works. Getting a handle on the average Social Security check by age can help you fine-tune your retirement plans. As of July … Read more
Have you ever worried about a trustee emptying out a trust account? You’re not alone. Many beneficiaries lose sleep over this exact concern, and for good reason – trustees do have access to trust funds, but there are important rules that limit what they can do. As someone who has helped a lot of clients … Read more
Traditional IRAs give you a tax break when you contribute, while Roth IRAs let you grow your money tax-free and get tax-free income in retirement. The products shown on this page are mostly or entirely from our advertising partners. They pay us when you click on one of their links and then do something on … Read more
A common question I am asked is: What is the difference between having power of attorney and serving as an executor?. The difference is literally life and death. The agent serving under your power of attorney only has power and authority to act during your lifetime. On the other hand, an executor is someone chosen … Read more
You need to use Form 4972, “Tax on Lump-Sum Distributions,” to figure out and report the taxes you owe on a lump-sum payment from a qualified retirement plan. This could include distributions from a pension, 401(k), or IRA. Find out more about how a lump-sum payment can affect your taxes and if Form 4972 is … Read more
Hey, Stan The Annuity Man here. Americas annuity agent. Yes, licensed in all 50 states. I want to help people all over the country understand annuities before they buy one. If we get to that point, we can help you with that at The Annuity Man. The question you want to know is how much … Read more
Is $1.5 Million Really Enough for Your Dream Retirement? Hey there future retirees! Today I’m tackling that million-dollar question (well actually the one-and-a-half-million-dollar question) that’s probably keeping you up at night Can you retire with $1.5 million comfortably? Let’s face it – retirement planning is confusing as heck. You may have heard a lot of … Read more
Life gets real when you hit 40. You’ve probably got a mortgage, maybe kids in school, and retirement suddenly doesn’t seem so far away. According to a 2024 Transamerica Retirement Survey, only 16% of Gen X workers feel very confident they’ll retire comfortably. If you’re part of that nervous majority, I’ve got good news – … Read more