Long Term Care Insurance Options
In 2024, the median household income in the United States was $83,730. However, the national average annual cost of 24-hour paid long-term care (LTC) for a retiree age 65 and older was more than $125,000, according…
New Rules for Inherited Traditional IRA Distributions
The rules for IRAs inherited after 2020 changed when Congress passed the Secure Act in 2019. The new rules eliminated the opportunity for non-spousal beneficiaries to “stretch” inherited…
Ideas for Small Business Succession Planning
It can be hard to build up your own business, but it can be harder to sell it for what it’s worth. In fact, only around three in 10 family-owned businesses survive for the next generation. Whether family…
Cashless Charitable Contributions
Not everyone can make large charitable contributions. But there are ways to be charitable without spending your discretionary income while at the same time lowering your tax bill. Even those who can make large…
Young Adults: Why Buy Life Insurance?
Young adults may not see much reason to purchase life insurance, especially if they have no dependents and/or a partner who makes plenty of money. However, there are several reasons why folks in this situation…
Job Shopping: What’s New in Company Benefits
If you are in the market for a new job or interested in extracting more value from your current one, consider some of the newer trends in company benefits. The following is a primer on what might be available to help supplement…
Responsibilities of Being the Executor of a Will
The appointed executor of a will is the person responsible for paying the debts and taxes of the will’s owner once he dies and then distributing what is left in the estate to named beneficiaries according to instructions…
Financial Implications of Marriage
Marriage isn’t just about two people who fall in love and choose to spend the rest of their lives together. It is also a contract. And while that contract might not be forever binding, marriage does come with certain financial and…
Reasons to Consider Out-of-State Municipal Bonds
Municipal bonds (also known as munis) are issued by a state or local government. Interest income is typically paid out twice a year and is not subject to federal taxes. When an investor purchases a bond issued…
What’s New in Identity Theft?
Identity theft is when someone steals your personal information and then uses it to commit fraud. They may access your Social Security or Medicare number, employee ID, utility, credit card or bank account numbers. Once the scammer has this…