Have you ever found yourself in a financial pinch and thought about borrowing from your retirement savings? You might be wondering: “Can I take money out of my 401(k) and put it back in 60 days without penalties?” The short answer is yes – but there’s a lot more you need to know before making … Read more
Life gets real when you hit 40. You’ve probably got a mortgage, maybe kids in school, and retirement suddenly doesn’t seem so far away. According to a 2024 Transamerica Retirement Survey, only 16% of Gen X workers feel very confident they’ll retire comfortably. If you’re part of that nervous majority, I’ve got good news – … Read more
Understanding the Tax Implications of Trust Distributions in 2025 If you’ve recently become a beneficiary of a family trust or are considering setting one up, you’re probably wondering about the tax consequences. The answer isn’t as straightforward as a simple yes or no – it depends on several factors including the type of trust, the … Read more
As a homeowner with a mortgage, you may wonder how to protect your property and your loved ones’ future. Putting a mortgaged house in a trust can offer many benefits, but the process can be complicated. In this blog post, we will explore the different types of trusts, the advantages and disadvantages of each, and … Read more
Ever wondered if those assets transferred through a TOD designation count as inheritance? You’re not alone in this confusion. As someone who’s helped many clients navigate estate planning I can tell you this question comes up constantly. Transfer on death (TOD) designations offer a convenient way to pass assets to loved ones while avoiding the … Read more
If you receive monthly Social Security benefits, your Medicare premiums can be automatically deducted from your Social Security check. The amount of the deduction depends on which Medicare plans you have and your income. What You’ll Find in This Article Ever opened your Social Security check and wondered where some of your money went? You’re … Read more
Have you ever felt like the tax man is always coming for your hard-earned money? Well I’ve got some amazing news for you! There’s actually a magical unicorn in the world of retirement accounts that can help you kiss those retirement tax worries goodbye. It’s called a Roth IRA and I’m convinced it might just … Read more
Many companies offer the benefits of a pension scheme to their employees. They take a variety of forms but the main types are: Under these schemes, contributions are paid into a pension fund constituted and administered under irrevocable trust. The assets of the fund are invested or otherwise employed by the trustees for the benefit … Read more
Are you wondering if your Roth IRA investments will get hit with capital gains tax? Good news – they won’t! One of the biggest perks of having a Roth IRA is avoiding capital gains tax completely. But there’s a lot more to understand about how these retirement accounts work tax-wise. As someone who’s spent years … Read more
The highest special minimum benefit in 2023 is $1,033.50 per month and jumps to $1,066.50 in 2024. 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 does … Read more
