Have you ever wondered what people really mean when they talk about “personal wealth”? Maybe you’ve heard the term thrown around in conversation or seen it in financial articles, but weren’t quite sure what it actually means for your own life. Well, I’m gonna break it all down for you today in simple terms that … Read more
Crafting a will or making an estate plan is a responsible decision that gives you control over how you want your property and assets distributed after your passing. Most people draft an estate plan believing the beneficiaries they name will outlive them. Unfortunately, that is not always how things turn out, and sometimes beneficiaries pass … Read more
Are you scratching your head about how much of your pension you can receive without paying the tax man? You’re not alone! As a pensioner in the UK, understanding your tax-free allowance is crucial to maximizing your retirement income I’ve put together this comprehensive guide to help demystify the tax rules for retirees. The Basic … Read more
Becoming a homeowner is super exciting, you guys! There are so many fun decisions to make. City or country? Ranch house or townhome? Fixer-upper or move-in ready? But no matter how you answer those questions, the most important thing is buying a house you can actually afford—and making a good home budget is the biggest … Read more
Plus three key ways to maximize your spousal benefits Part of the Series Understanding Social Security If you’re eligible for Social Security spousal benefits, how much you’ll receive depends on a number of factors, including your age, the amount of your spouse’s benefit, and whether you have other retirement benefits available to you. Who’s eligible? … Read more
Have you ever watched a movie where the family gathers in a dimly lit office after a funeral, and a lawyer dramatically reads the deceased’s will to gasps and surprised faces? Well, I hate to burst your bubble, but that’s pure Hollywood fiction! The reality of what happens to a will after someone dies is … Read more
Though pensions come in two types—defined-contribution and defined-benefit—the most common type of traditional pension is the defined-benefit plan. During an employees working years, the employer contributes to the plan. (With a defined-contribution plan, the employee does, too.) After the employee retires, they receive monthly benefits for the rest of their life from the plan. Their … Read more
Consider the benefits of investing in a Roth IRA, even if you are nearing retirement Part of the Series What 50-Year-Olds Need To Know About Roth IRAs A Roth IRA is a type of individual retirement account (IRA); contributions to one are made with after-tax dollars, and investment growth is tax-free. Since contributions are made … Read more
So you’ve put property in a trust, but now you’re wondering if you can take it back out. Maybe you need to sell it, refinance it, or your family situation has changed. Whatever the reason, removing property from a trust isn’t as straightforward as you might think – but it’s definitely possible in many cases. … Read more
So your parent passed away and left you their IRA. First, I’m sorry for your loss. Second, you’re probably wondering what the heck to do with this inherited account. The rules can be confusing (believe me, I’ve been there!), and one wrong move could cost you thousands in unnecessary taxes. In this guide, I’ll walk … Read more
