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What are Biggest Financial Blunders Folks make after 50?

financial blunders after 50

Reaching age 50 is a milestone that most of us celebrate. Still, after you’ve blown out the candles and bid farewell to your guests, you may have a headache from too much champagne, but otherwise feel the same as before.

Some Assets Better Left Outside of Will

Photo of a Last Will and Testament with a pen.

That last will and testament you have tucked away? It may not be the last word on what happens to your stuff after you are gone. Instead, that legal document’s directives for doling out your wealth may be overruled by other paper­work and relevant laws.

Can You Catch-up? IRS Increases Contributions Limits

Retirement Account Contributions Nest Egg

If you find that you have fallen behind in your retirement savings, you are not alone.  Investment advisor Vanguard reported recently that only 14% of 401(k) participants contributed the maximum amount annually, and only 16% of eligible employees 50+ made additional catch-up contributions.

What are Biggest Blunders in Wealth Transfer?

social security 2023

We are approaching the biggest wealth transfer ever, as Baby Boomers prepare to hand off their life savings to their heirs. However, will their heirs actually get the full amount of the wealth intended for them…or will a large amount be lost to unnecessary taxes?

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