If you’re one of the few lucky Americans that has a pension, you may have a deliberation in front of you: how and when to receive your money. With many pensions, you can choose to either elect: annuitization (to receive monthly payments for life),...
In addition to eternal happiness, marriage provides countless financial advantages, including: Possible Tax Reduction The ability to contribute to a spousal Individual Retirement Arrangement (IRA) account Sharing living expenses The topic of this week’s post discusses yet another advantage available to married couples: assuming...
Life’s emotional challenges are often intertwined with life’s financial challenges. When it comes to advanced financial planning, these life challenges are scrutinized for their financial impact. Consider three significant life-changing events: • the birth of a child • the death of a parent •...
It is important to understand your cash flow; you want to know where your money is going. For the purposes of financial planning, categorize expenses into boxes A, B, and C. This process serves as a tool to help manage spending and saving patterns.
Table of Contents1 1.1 Short-Term Capital Gains1.2 Long-Term Capital Gains1.3 Interest Income1.4 Ordinary Cash Dividends1.5 Qualified Dividends Different types of investment returns are taxed distinctly. Knowing how investment returns are taxed can help you better manage your investments. Short-Term Capital Gains For an explanation...
Enjoying retirement requires following just two simple rules. This sounds too easy – one would imagine that a successful retirement is more complicated. It is complicated! This is because while the rules themselves are simple, following these simple rules is not simple. Read on – and...
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