There’s almost always a reckoning when the government proffers a tax break. So it is with individual retirement accounts (IRA)s, 401(k)s, and similar accounts that investors fund with pre-tax earnings.
Rising interest rates may be excellent for boosting savings accounts, but they’re unkind to credit card balances. Older Americans, especially those on a fixed budget, should beware.
An estate plan works like the operating system on your phone or computer. It runs in the background. However, it needs occasional updates to keep the plan current.
In Social Security parlance, ‘benefit’ and ‘payment’ are often used interchangeably. However, they do not mean precisely the same thing.
The Inflation Reduction Act of 2022 provides many benefits for retirees and older Americans.
How much money will be in your Social Security retirement check, and how much can you keep? For retirees, these are burning questions.
The new Federal Estate tax limit (above which Federal estate taxes will be payable) is $11,200,000.00 per person. Yes, most of us will not hit that limit, but 19 of the 50 states, Illinois included, impose an estate tax of their own ranging from .25% to almost 20% of your estate.
Health insurance is seen as a huge hurdle for early retirees, but the answer to finding affordable coverage could be simpler than you think.
The following are penalties to avoid at all costs when contributing to or withdrawing from retirement accounts.
Accidents happen. Illnesses can strike anyone unexpectedly. So, take a moment to get a few basic estate planning tasks out of the way. You—and the people you love—will be glad you did.