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
Ever found yourself staring at your retirement accounts wondering, “How much money can I transfer to a Roth IRA without getting in trouble with the IRS?” If so, you’re not alone! This question confuses tons of people, and honestly, the answer isn’t as straightforward as we’d like I’ve spent hours researching this topic and want … Read more
After decades of stashing away money in your 401(k), you’ve finally reached the finish line – retirement! But now what? That account balance you’ve been building up for years suddenly needs to transform from a growing nest egg into actual income you can live on. If you’re scratching your head about what to do with … Read more
Have you ever worried about Social Security suddenly cutting off your payments? Maybe you’ve heard stories from friends or family members who experienced unexpected interruptions in their benefits I’ve been researching this topic extensively, and I want to share what I’ve learned about when and why Social Security might stop sending those critical monthly checks … Read more
Are you wondering if your income is too high for a Roth retirement account to be beneficial? You’re not alone. The conventional wisdom in financial planning suggests minimizing current tax liability whenever possible, but this approach isn’t always best for everyone – especially high earners. I’ve spent countless hours researching this topic, and I’m gonna … Read more
It’s not hard to understand why Roth IRAs are popular – who wouldn’t want to build up a savings account that can provide tax-free income during retirement? But contributing to a Roth can be difficult to do as it requires compensation income, and total income that falls under a certain threshold. Fortunately, there is a … Read more
If youre like many people, you dont buy into the traditional definition of retirement. You may be planning an encore career or looking to maximize opportunities to travel. Hopefully, new adventures and new activities await you. But remember, as you redefine your retirement, consider your retirement income plan, mapping it to a budget based on … Read more
Creditors will not be able to take the death benefit payout for your life insurance policy unless you leave the money to your estate. If you name other people as your beneficiaries, the money will go to them and the creditors won’t have access to it. Policygenius content follows strict guidelines for editorial accuracy and … Read more
