Retirement

Immediate Action Advisable The Corporate Transparency Act (“CTA”) is a new federal law that may affect you in significant and unexpected ways. Since the law only becomes effective January 1, 2024 and entities created before 2024 only have to file January 1, 2025 it seems that most folks are just not taking any action now.

A new report from Apartment List by Chris Salviati reveals a surging supply of extra bedrooms amid rising demand for cash by seniors facing a retirement income crisis. This intriguing finding raises the question: Can seniors rent out their spare bedrooms to stave off low income in old age? It’s an age-old question, actually. For

No one loves paying taxes. Building a retirement income you can’t outlive is a challenge for many Americans. Increasing the amount of tax-free retirement income you receive will help minimize these two challenges. Keep reading as we share five ways to get the most tax-free income in retirement. As a Certified Financial Planner, I love

From what we are told, sales of previously owned homes in the United States are at their lowest rate in 13 years, while the average sale price for a home in the US has risen in just the last three years from around $374,500 to around $513,400 today. While I’m not an expert in this

Living a single’s life is on the rise. Beyond the numbers, there are microtrends that suggest that the singlehood lifestyle is not only on the rise but is cause for celebration worldwide. What might living solo mean for life in retirement? According to Pew Research, nearly four-in-ten adults between the ages of 25 to 54

Most who follow the news hear about the need for housing for homeless vets. What we don’t always hear are the many reasons why so many vets end up on our streets. Clearly, there is not enough housing for vets, a responsibility not only of the Department of Veterans Affairs, but also of the local

The DB dinosaurs are back, and they are good dinosaurs. International Business Machines IBM announced it is halting all their 401(k) matches to fund a defined benefit plan for its employees. International Business Machines, IBM, will, starting January 1, 2024 reports 401(k) Specialist and Justin Mitchell at Fund Fire, provide a defined benefit plan that

Share to Facebook Share to Twitter Share to Linkedin When is the best time to start investing for retirement? Right now. As a rule of thumb, you need to amass about 10 times your annual salary by the time you retire. Fall short of that mark and you face a lifestyle downgrade in your senior

Now is that time of year, between October 15 and December 7 when the bombardment of Medicare Advantage plan ads happens. They seem to be relentless in all media outlets. “Buy this! It’s better!” is a constant refrain. But there is deception in some advertising and the Federal government wants you to know what the

Are you looking for a “way out”? With everything that’s going on in the world… war in the Middle East… war in Ukraine… seemingly endless political dysfunction in the United States… we could all be forgiven for wanting an escape. I’m not talking about a vacation… I’m talking about a “bolt hole” where you feel

Ray is 85, widowed, and lonely. He lives alone and has two homes in different states. He goes back and forth between them.Ray’s son and daughter were very alarmed when they found out about their Dad giving personal information and money to scammers. He is diagnosed with dementia, in the earlier stage. He’s also very

While inflation may be stressing workers’ budgets, it also brings some good news for those looking to maximize their contributions to retirement accounts. If you are looking to get on track to becoming a 401(k) millionaire or achieving financial freedom, the IRS has just announced the new 2024 401(k) contribution limits. Workplace Retirement Plan Contribution

Share to Facebook Share to Twitter Share to Linkedin American Tower (AMT) and Crown Castle (CCI) are two of the largest real estate investment trusts (REITs) in the United States. They not only compete every day in their businesses, they also compete for potential shareholders. Their stocks are considered close peers. Here is an overview

These days, it’s not uncommon to hear stories of individuals achieving millionaire status through their 401(k) retirement savings plans. In fact, Vanguard’s first annual How America Saves report found that features like automatic enrollment and automatic annual increases have led to broad increases in 401(k) participation rates, a first and necessary step in pursuing a

“I don’t want to be old when I’m old.” That sentiment was shared in a recent article in The New York Times by Elaine LaLanne, the 97-year-old widow of Jack LaLanne, who was one of the first TV celebrities to introduce personal fitness to millions of Americans. So, what does it mean to be “old”?

In several press releases over the last few months, the Centers for Medicare & Medicaid Services (CMS) touted improvements in Part D prescription drug plans. CMS projected that the average total monthly premium in 2024 would decrease 1.8% and premiums stabilization measures would limit the growth of the base beneficiary premium to 6%. These announcements

If you are self-employed or own a business and are annoyed by how much you pay in taxes, you should check out the Solo 401(k). While saving for retirement may not be top of mind for those who love what they do, paying fewer taxes helps you keep more of your hard-earned money. Keep reading

I was expecting the October jobs report to be dull and many other economists agreed. We were right: The numbers didn’t change much. Unemployment is still at a historic low at 3.9%. Hourly wages are up as workers slowly get wage increases to make up for inflation. Last month (September 2023), real wages were down

Hopefully, everyone reading this knows to add a beneficiary to their retirement accounts. I’m guessing a few of you know that you can add a Transfer on Death beneficiary to your other investment accounts. Adding a Transfer on Death beneficiary can be an excellent estate planning first step for those who don’t need or are

Remember old-fashioned teeter-totters? The kind made from a wobbly wooden board? As a child, I’d spread my arms wide and stand in the middle of the board with one foot on each side, swaying back and forth, trying to balance and suspend both ends above the ground. I guess it was the closest I could