Ever wondered what happens to everything you own after you’re gone? It’s not the most cheerful topic but it’s super important to understand who gets what when someone passes away. Whether you’ve got a house savings, or family heirlooms, knowing how inheritance works can save your loved ones from headaches and heartaches down the road. … Read more
Saving for retirement can feel like putting together a puzzle with missing pieces. One question that comes up a lot is whether you can put a lot of money into your Roth 401(k) at once. This could be because you got a bonus, sold some property, or just have a lot of extra cash. No … Read more
Have you ever wondered if naming someone as a beneficiary means they automatically get all your stuff when you’re gone? Well, you’re not alone in this confusion. This is one of those questions that seems simple but actually has a pretty complicated answer. In my years of helping folks understand estate planning, I’ve seen this … Read more
Most heirs face many complex decisions â and potential tax consequences. These insights can help you avoid common mistakes and make more informed choices. When an inheritance comes after the death of a loved one, it can feel like a mixed blessing. It can be hard to picture what you need to do with the … Read more
I kind of like the title of this article. Only one actual word (after the “intro”)…everything else is an acronym or made-up word. So, let’s first define the acronyms: As a military retiree or federal employee with military connections you’re in a unique position when it comes to healthcare options. Having access to both TRICARE … Read more
From its beginnings in the days of President Franklin Roosevelt, Social Security has held fast that spouses and ex-spouses have a claiming right to retirement benefits. It’s also helpful to know how Social Security can give you a guaranteed income in retirement, maybe even more than you thought. This is especially true if you are … Read more
Often, when a homeowner dies, their house is the largest asset in their estate. Family members may need or want to liquidate the property as soon as possible. A house frequently represents more than its financial value, of course; it may hold treasured memories of the deceased and of time spent with family there over … Read more
Roth IRAs for kids are a great retirement tool, because children have decades for their contributions to grow tax-free, and contributions can be withdrawn tax-free and penalty-free at any time. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our … Read more
Does anyone ever wonder what will happen to them emotionally when they retire? I know I did. After years of writing about the transition to retirement for our blog, I’ve learned that retirement isn’t just about having more money; it’s also a deep psychological journey that can change who you are. Terry Mitchell, a retired … Read more
All the rules you need to know about taking money out and converting it to another type of account. Part of the series What 50-Year-Olds Need To Know About Roth IRAs Roth individual retirement accounts (IRAs) come with many tax benefits, including tax-free withdrawals. However, to avoid a 10% early withdrawal penalty and owing income … Read more