Let’s be honest. Most of us start gathering our documents to file taxes at the end of January and into February, schedule a time with our tax professional, and then wait for our preparer to tell us whether we’re due a refund or owe.
My mother wanted to get everything in order and finally set up her trust and estate plan. I referred her to an estate planning attorney who created her trust. My mother completed her trust. But, she was just like millions of Americans. When they get their trust done, they just put it in their file cabinet and never look at it again.
While earning a paycheck is exciting, it can also be an excellent time to consider opening a Roth IRA and contributing a portion of their summer earnings.
Heading into retirement, many people think they will be in a lower tax bracket. But then they realize once they receive their Social Security that they have a Social Security tax torpedo. This tax phenomenon is caused when an individual’s marginal tax rate is significantly higher than their actual tax bracket, which is a horrible experience.
Are you taking too much risk as you approach retirement? If you’re within 10 years of retirement—or already retired—this conversation is especially important.
Yesterday, my son Kai went to his best friend's national letter of intent at his school. (Gradulations Jacob). For him and thousands of other families across the country. This can be an exciting but yet very nerve wrecking ordeal. As; our kids are turning from little kids who needed our help to young adults. I am only a few months away from this situation myself.
If you were laid off, here are key financial steps to take right away, including reviewing health insurance, applying for unemployment, updating your budget, and deciding what to do with your 401(k). We are hearing about massive layoffs from Microsoft, Meta, Amazon, and other companies. Finding out you are laid off is like a bomb shell that just hit our lives. We have all types of thoughts. How are we going to pay the mortgage...
