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.
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.
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.
One often unrecognized fact regarding drug pricing is the difference in bargaining power depending on what agency or group is doing the bargaining.
Maximize the impact of your legacy and make sure it supports the people and causes that are most important to you.
Changes in tax law and in your personal life may mean that yours needs to be updated. Here are the easiest (and smartest) ways to do it.
Providing for future generations shouldn’t be (overly) taxing. To manage taxes as you pass down your assets, look into UTMAs, 529s, child IRAs and trusts.
Soaring inflation, interest rate hikes and the war in Ukraine have sparked ongoing stock market volatility. However, there may be a bright spot: the chance to save money on a Roth conversion.
However, if you are retired and no longer generating employment income, you should make sure you weigh the financial implications of any potential move.
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?