Retirement

Key takeaways Inflation has increased 0.4% in October, below forecasts of 0.6%. This brings the annual rate down to 7.7%, the lowest level seen since January this year. It’s hoped that this will mean the Fed is able to implement their plan of slower rate hikes, which would take some of the immediate pressure off

Russ was a self-made multi millionaire who had invested carefully and done well. He lived in a comfortable, large home and had anything he needed. His wife passed after a long marriage. Throughout her life he had been particularly generous with his daughter. He had spoiled and supported Kris, as she didn’t care to hold

Why So Many Taxpayers have SLATs Lots of taxpayers have set up irrevocable trusts in recent years to use exemption (that is the amount you can give away without an estate or gift tax). In 2020 and 2021, the harsh Democratic estate tax proposals were the catalyst for a tidal wave of this type of

Share to Facebook Share to Twitter Share to Linkedin Despite a brutal year for the U.S. stock market so far, billionaire money manager Ron Baron and his many retiree investors were undeterred as they gathered for the Baron Investment Conference last Friday. With nearly 5,000 investors and members of the media crowding into the Metropolitan

A recent Senate committee report elevated concerns about deceptive marketing tactics in Medicare Advantage plans. While the number of beneficiaries more than doubled in the last 15 years, the amount of marketing complaints also doubled—in just one year. Medicare Advantage members don’t need Congress to tell them about these problems. They have their own experiences

Inflation is bringing some good news to retirement savers. At least for those looking to maximize their contributions to retirement accounts like a 401(k), traditional IRA, or 403(b). For those looking to pay fewer taxes in 2023, the increase in the maximum retirement contributions for 2023 will allow you to shelter more of your income

The richest Americans are accumulating more wealth than at any time in history and are expected to pass trillions of dollars onto younger heirs, says Vincent Lumia, head of field management at Morgan Stanley Wealth Management. MS . “The pie is going to get bigger and the amount of money that is changing hands is

It’s just sitting there, growing slowly over the years, beckoning you. Do you have the discipline to shun this siren? Or has life thrown you a curve ball and left you no choice? “Taking a loan out of your 401(k) plan usually shouldn’t be viewed as the first option for financing; however, for some people,

It’s remarkable that Social Security is not the front and center issue in the midterm elections. Key Republicans say they will cut Social Security and Medicare if their party gains power. Some Republicans are considering raising the full retirement age to age 70. These long-promised Republican policies threaten millions of older Americans, and all those

On August 16, 2022, the Inflation Reduction Act (IRA) was signed into law. One provision that raised revenue (taxes) is a 15% Corporate Alternative Minimum Tax (CAMT) on corporations with average book income of $1 billion or more over the last three years. As an Alternative Minimum Tax (AMT), corporations subject to the tax will

As a small business owner, you may find yourself in an extremely unique situation to maximize Roth savings. This is especially true if you are an owner only business. Retirement plans fully covered under the Employee Retirement Income Security Act have additional complexities that a third-party administrator (TPA) can help you manage. The table below

In response to the recent burst of inflation, the IRS is raising contribution limits for the full range of retirement savings accounts. That’s great news. If you make a lot of money. But it won’t make the slightest difference to the vast majority of working-age Americans, who contribute far less than the existing limits, or

The White House announced yesterday that the United States is not in a recession now. Low unemployment numbers like those in today’s employment report show a strong economy — 261,000 jobs were added, tens of thousands more than expected. Expectations were high after Tuesday’s Job Openings and Labor Turnover Survey (JOLTS) data showed demand for

Retirees are more vibrant today than they have been at any other time. They’re more active in their communities. They travel more than ever (at least, those that want to travel). They are even starting businesses at a faster rate today than in previous eras. One of the more significant challenges of starting a new

Key Takeaways As expected, the Fed raised interest rates again by 0.75 percentage points Chairman Jerome Powell stated that they may slow the pace at which they’re hiking rates, but may end up sending them higher than previously expected. It’s a confusing time for investors, as the Fed tries to thread the needle to bring

Share to Facebook Share to Twitter Share to Linkedin Economists increasingly fear the Fed is now pushing the U.S.—and world–into a deeper than needed recession, risking millions of jobs and market stability. During Volcker’s reign, unemployment stayed above 10% for nine straight months and the mortgage rate hit nearly 17%. Some months after Jerome Powell

Last month, the United Kingdom saw the near-collapse of 90% of its pensions holding £1.5 trillion in assets. Now comes news that the German pension system will collapse without reform. Suddenly, the world is awakening to the fact that pensions globally are struggling. The myriad reasons pensions fail are poorly understood—in part because failures are

Taxes can take a big bite out of your retirement income. The more retirement income you have, the more you will be taxed. This results in more of you hard earned money being used to pay taxes. Keep reading as I share how various types of retirement income are taxed. The good news is that

It is Medicare open-enrollment season. And retirees are confronting the usual confusion about what to do. Perhaps the biggest question: Should I enroll in a Medicare Advantage managed care plan or in traditional, fee-for-service Medicare? Like almost everything in the world of insurance, the answer is: It depends. In 2022, almost half of all Medicare

November is National Entrepreneur Month. With studies showing 30% of new businesses are started by people above the age of 50, you might be wondering how they do it. One of the biggest challenges entrepreneurs face, after coming up with their idea, involves financing that new business. If you’ve been working for some time, you’ve