Retirement

So, you thought New Year’s resolutions were for losing weight and giving up eating corn dogs. Naw, the most exciting New Year’s resolutions are estate planning commitments. So, when you head off to Times Square to watch the ball drop, take along pen and paper so you can jot down all your estate planning commitments.

In early October of this year—a month before Sam Bankman-Fried’s crypto empire FTX began to unravel—I warned Forbes readers “If you are a participant in a state or local government-sponsored pension fund, then a portion of your hard-earned retirement savings is likely invested in cryptocurrency or a cryptocurrency-adjacent enterprise.” I cited a 2022 study published

You may have noticed a series of articles appearing throughout the year lamenting the demise of the classic 60/40 asset allocation strategy. This investment philosophy calls for portfolios to be composed of 60% stocks and 40% bonds. In theory, this asset class diversification should shield investors from the downside. As rates have risen and the

Introduction New Year’s is a great time to commit to reviewing and cleaning up your estate planning. One of the most important and common estate planning documents is a power of attorney. As part of your New Year’s resolutions, commit to making sure you and your loved ones (including any children or others you are

Today’s high estate and gift tax exemptions could be slashed in a few years. Maximize those and other benefits now. The proposals to substantially increase estate and gift taxes that were widely-discussed in 2021 are off the table for now. But the current lifetime estate and gift tax exemption is scheduled to be cut in

I would have hoped that, before I lived in Mexico, if someone would have asked me what it would be like to live in Mexico, I would have had the humility, good sense and / or wisdom to say “I don’t know.” But I doubt it. Actually living in a new place sure can change

The Federal Reserve finished the year with yet another interest rate hike. If inflation slows as expected, analysts still expect further increases of at least 75 basis points. You know how rising rates hurt your retirement savings, but there are ways you can take advantage of them. Benefiting from an environment of high interest rates

Here are the critical questions about retirement plans you need to review as the close of this year approaches. Are beneficiary designations correct? There can be dreadful consequences to not designating beneficiaries or having outdated beneficiary designations. The account is likely to go to the wrong person or people, or it might go to the

So many Americans run into unexpected health care situations, natural disasters, or other unforeseeable tragedies that also become financial tragedies. We’ve seen research showing that nearly half of Americans would struggle to cover an unexpected $400 expense and that 56 percent of Americans could not cover an $1,000 expense with savings. These numbers and surveys

Key Takeways The $1.7 trillion government spending bill has passed, which means they’ll be able to keep the lights on until at least September next year. With over 4,000 pages worth of legislation, it’s not the type of thing that can be summarized easily. With that said, we’ve pulled out some of the key areas

Back when the SECURE Act passed in 2019, I wrote an article for Forbes called the “Why The SECURE Act Makes 2020 The Year of Missed RMDs.” The reality then was that the two biggest and most impactful provisions of the SECURE Act 1.0 were around required minimum distributions (RMDs) from retirement accounts. With the

Key takeaways Lucid Group has raised an additional $1.5 billion to support ongoing operations, with $915 million being contributed by the Saudi Arabia Public Investment Fund. It keeps the Fund’s stake in Lucid at around 62%, continuing their status as a majority owner of the company. Despite almost $1 billion in additional investment, it’s a

Key Takeaways Disney stock has plummeted almost 45% so far this year, which is looking set to be the worst performance since 1974. The latest fall has come after the opening weekend of Avatar: The Way Of Water fell short of huge opening weekend expectations. Disney is under pressure from many fronts, with its streaming

Key takeaways There are reports that the SAFE Banking Act will be excluded from a must-pass bill, marking the third time it’s failed to get through the Senate. The Act would give cannabis companies access to banking services, which is currently a challenge to the legal status of cannabis at a Federal level. Some are

Congress is once again poised to make sweeping changes to the retirement and tax rules in the last two weeks of the year. The Secure Act 2.0 is expected to become law later this week. Some of the measures in the bill include increasing the required minimum distribution age, raising catch-up contribution limits, permitting some

The spending bill congressional leaders agreed to creates significant new incentives for retirement savings and broadly eases rules for withdrawing funds. Like earlier versions, the measure would both help low- and moderate-income workers save for retirement and create yet another tax windfall for high-income savers. The measure, called SECURE 2.0, adopts elements of bills approved

Key Takeaways Confidence from homebuilders has now fallen every month for a year, hitting levels not seen since 2012, according to the National Association for Home Builders (NAHB). An index below 50 is considered negative, and in December sentiment fell 2 points to hit 31. The NAHB believes this negative trend will continue into 2023,

You know that those credit card rewards aren’t free, but who’s really paying for them? Most of the people I know have credit cards or other payment cards with some kind of reward or point program. For every dollar charged to the card, the card carrier is credited with points or some other reward measure.

Medical professionals across the U.S. are warning us that the combination of flu season, Covid and RSV is putting everyone at risk for getting sick. Preliminary estimates from the Centers for Disease Control are that our population will have 27 million folks who get the flu this year. That is just the early estimate at

Social Security benefits for existing beneficiaries will increase 8.7% in 2023 from 2022 levels. People who haven’t claimed their retirement benefits yet shouldn’t let that change their strategies for claiming Social Security benefits. I regularly hear from people who see the boost in the Social Security cost-of-living adjustment (COLA) and say that makes them consider