Have you ever worried about losing your hard-earned pension to creditors? You’re not alone. As retirement approaches, many folks start to wonder if their nest egg is truly secure. Let’s dive into this important topic and clear up some confusion. The Basic Protection: ERISA as Your Shield Good news! Your pension benefits are generally protected … Read more
Are you wondering if your non-working spouse can still save for retirement through a Roth IRA? Good news – the answer is YES! Even if your spouse doesn’t have a traditional job, they can still build their retirement nest egg thanks to something called a “spousal IRA.” As someone who’s helped many couples maximize their … Read more
If youâre worried you missed out on the opportunity to contribute to an individual retirement account (IRA) for last year, then you might be in luck. With a carryback contribution, you can still contribute to the prior yearâs IRA until you file that yearâs taxes. You can make IRA contributions even if you also contributed … Read more
Are you considering an irrevocable trust as part of your estate planning strategy? While these powerful legal tools offer impressive benefits, they come with serious drawbacks that could leave you regretting your decision for years to come. At our law firm, we’ve seen clients dive into irrevocable trusts without fully understanding what they’re giving up. … Read more
If you’ve spent years in a permanent job, you can get very used to a regular income. And if you haven’t always been in paid work, the thought of guaranteed payments dropping into your bank account in a nice, predictable way can be very appealing indeed. That can be one of the advantages of retirement. … Read more
Are you sitting on a traditional IRA and wondering if now’s the right time to convert it to a Roth? This question plagues many retirement savers, and for good reason – it’s a decision that can have major tax implications both now and down the road. While 2021 was once considered an opportune time due … Read more
A 403(b) is not an IRA. Both retirement accounts have tax benefits but different contribution limits and qualifications. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. However, this … Read more
Saving for retirement takes time and discipline. You also need to make sure youre setting aside enough money to maintain your current lifestyle. But you need to strike the right balance so youre not saving too much. Any excess money could be better used elsewhere, like paying off your debts. In this article, weve highlighted … Read more
Hey there, fellow thirty-something dreamers! So you’ve hit the big 3-0 and suddenly realized that your bank account isn’t exactly matching your life ambitions? Trust me, I’ve been there. A few years back, I was staring at my sad savings account wondering if I’d ever be able to afford more than just paying bills and … Read more
Theres an old saying which says that the best time to invest was yesterday, and the second best time is now. And that couldnt be more true! Let’s be real – every parent secretly hopes their kid will grow up to be financially secure But a millionaire? That feels like a pipe dream for most … Read more
