What Happens when You Inherit a Retirement Account?
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.
How Do I Handle Debt in Retirement?
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.
Estate Planning for Different Ages and Stages of Life
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.
Why Would My Social Security Payments Be Cut?
In Social Security parlance, ‘benefit’ and ‘payment’ are often used interchangeably. However, they do not mean precisely the same thing.
Inflation Reduction Act Puts Prescription Drug Relief in Sight for Seniors
The Inflation Reduction Act of 2022 provides many benefits for retirees and older Americans.
What Factors Impact Social Security Check?
How much money will be in your Social Security retirement check, and how much can you keep? For retirees, these are burning questions.
Why Is It Important to have an Estate Plan?
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.
Can I Afford Health Insurance If I Retire before Taking Medicare?
Health insurance is seen as a huge hurdle for early retirees, but the answer to finding affordable coverage could be simpler than you think.
What Penalties Hurt Retirement Accounts?
The following are penalties to avoid at all costs when contributing to or withdrawing from retirement accounts.
Why Does Everyone Need an Estate Plan?
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.
