Mutual Funds

Young graduates wearing rented gowns and mortarboards applaud a speech in the central hall of their … [+] university during their graduation ceremony, on 13th July 2017, at the University of York, England. (Photo by Richard Baker / In Pictures via Getty Images Images) In Pictures via Getty Images Before my wife and I got

“If I have seven figures in a retirement account, is it possible I’m saving too much for … [+] retirement?” getty In my line of work, I meet a lot of people who are concerned they haven’t saved enough for retirement. But interestingly, I’ve also heard the opposite. “If I have seven figures in a

getty The clock is running out on 2020. If you’re like the 83% of Americans who think that 2020 was either just “OK,” “bad,” or “terrible,” you’re probably looking forward to ringing in the new year. But if you have an hour or so to spare before the ball drops, a smart money move before

Senate Majority Leader Mitch McConnell walks to his office after leaving the Senate Floor on … [+] December 21 Getty Images On Sunday, President Donald Trump signed a $900 billion stimulus bill expected to address the health and economic fallout of the COVID pandemic. The relief measure includes a one-time $600 payment per eligible adult

The controversy over the deductibility of payroll expenses by Paycheck Protection Program (PPP) loan recipients has finally been settled, less than a week before the end of the year.  The Consolidated Appropriations Act, 2021, signed into law Dec. 27, 2020, allows deductibility of … [+] payroll expenses by Paycheck Protection Program loan recipients. getty Deductibility

Start 2021 with New Year’s resolutions that can really improve your life in retirement. getty It’s likely you’ve seen or made typical New Year’s resolutions that could make your retirement better: save more, spend less, lose some weight, and so on. While those resolutions can definitely help improve your life, following are four New Year’s

getty The Roth IRA is one of the most powerful tax and retirement planning tools available, yet it is misunderstood and often misused. Many financial advisors have labeled 2020 as the best time to convert all or part of an IRA. Income taxes, and the cost of converting an IRA, might never be lower in

Senator Brown helps a small group of workers protect their pensions. Now is time for pensions for all American workers. UNITED STATES – OCTOBER 16: Sen. Sherrod Brown, D-Ohio, speaks to a member of the United Mine … [+] Workers of America during an event in Dirksen Building with workers and retirees to call on

getty The Economic Impact Payments, or stimulus checks as they’ve come to be known as, were one of the most hotly debated aspects of the COVID-19 relief package Congress agreed to earlier this week. When the CARES Act was passed back in March, qualifying individuals received $1,200 checks. That amount is down to $600 under

How a reverse mortgage can be part of an integrated retirement plan getty The practice, almost without exception, is to deliver HECMs as a stand-alone. HECM reverse mortgage lenders are barred by HUD rule from delivering HECMs in conjunction with any other financial instrument. And every annuity provider we have queried has an internal rule

Economic Security Planning, Inc. Today’s column addresses questions about Social Security spousal benefits based on the record of a worker who filed early, retirement benefits for a worker who dies late on the last day of the month, the Windfall Elimination Provision and withdrawing an application. Larry Kotlikoff is a Professor of Economics at Boston

Follow-through is as important in estate planning as for your golf swing. getty 2020 estate planning was a wild ride! Throngs of wealthy Americans had their advisers assist them with all types of planning. Much of the planning was based on the fear that the Democrats would control Congress and pass harsh tax legislation. Regardless

There’s finally certainty around the medical expense deduction for 2021 and beyond. getty Got high medical expenses in a low-income year? Congress heard your plea. As part of the $1.4 trillion spending bill Congress passed yesterday, millions of Americans will get a permanent break on the deductibility of out-of-pocket medical expenses. The threshold for claiming

happy new year 2021. getty 2020 is coming to an end. If you’re on Medicare, here are some tips to help ensure you’re on the best track for the new year. 1. Check your drug plan’s pharmacy network carefully. Two things happened during Open Enrollment that merit giving some attention to your drug plan’s network.

By Richard Eisenberg, Next Avenue getty All things considered, 2020 turned out to be a pretty good year for small investors in many mutual funds, exchange-traded funds (ETFs) and 401(k) plans. The Standard & Poor’s 500 index of stocks is up about 15% through mid-December; the Dow Jones average rose has risen by nearly 6%

Economic Security Planning, Inc. Today’s column addresses questions about withdrawing an application for a retirement benefit, filing for and then suspending a retirement benefit and whether and when divorced spousal benefits might be available. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc, which

getty It’s generally a bad idea to name a trust as beneficiary of your IRA. The IRA usually loses the power of tax deferral, because it must be distributed faster than in other scenarios. There are only a few instances when a trust as beneficiary avoids this problem, A recent IRS ruling gives an example,

Amid this surging pandemic, millions of people justify travel, visiting aging loved ones, and ignoring CDC warnings about spreading the disease. Thanksgiving was followed by a surge in cases, a percentage of which result in hospitalizations. The predictable effect is that hospitals are overwhelmed, there are not enough nurses and doctors to staff the overflowing

Carefully coordinate your strategy to deploy savings in retirement with the IRS rules on required … [+] minimum distributions. getty The IRS recently finalized new regulations that determine the minimum amounts that retirees must withdraw from their retirement accounts and include in their taxable income. These new rules will apply to withdrawals made during 2022

getty It is said that the Americans who stormed the beaches of Normandy and saved the world from the ultimate evil are members of the “Greatest Generation.” I believe the name can also apply to the many people who lived through World War II in Europe and moved to the United States to create a

By Donna Mitchell, Next Avenue Entrepreneur Dawn Kelly Courtesy of Shante Carlan Before Dawn Kelly, 58, launched her quick-serve restaurant The Nourish Spot in Queens, N.Y. in 2017, she had been downsized from a corporate public relations job. She needed to figure out a way to continue working but was unsure about almost every aspect

Sound wisdom to help retirees live a healthy, financially secure, and fulfilling long life. getty Pre-retirees and retirees have always faced several serious retirement planning challenges. On the one hand, it’s great that many people are living much longer lives than their ancestors. On the other hand, it’s not easy to be financially secure, physically

Middle-class Families Went Deeper Into Debt, Faced Evictions and Job Losses That Will Linger getty Congressional action on more financial relief for struggling families and businesses is welcome news, but America’s middle class will need more help next year. The signs are already there that the recession has caused longer-term economic pain. Even before the

getty After months of waiting, debate, and compromise, we finally have a second COVID-19 relief package. The deal comes just days before many of the protections established by the CARES Act are set to expire.  Some of the most anxiously awaited aspects of the new Act are the additions, clarifications, and changes to the Paycheck

getty You’re a small business owner. What are you more constantly thinking about? Sales or profits? Both are critical. One provides the lifeblood to your business. The other provides the lifeblood to your, well, living. It’s a tough decision. If you’re like most small business owners, this is a constant pushmi-pullyu struggle. But something more

Free Financial Planning Clinic Retirement planning sign at Hyatt Regency Hotel. (Photo by: Jeffrey … [+] Greenberg/Universal Images Group via Getty Images) Universal Images Group via Getty Images Despite rumors older people maybe skittish about working and being out in the world before they can get the COVID-19 vaccine, planning to work longer in old

National Family Caregivers Month, celebrated in November, is over —and before you ask, ‘Who knew?’, read on. December follows with the annual Home for the Holidays Campaign, on behalf of the nation’s Aging Network—and this year, to help navigate these challenging times the focus is on directing older adults and family caregivers to the nation’s

Economic Security Planning, Inc. Today’s column addresses questions about divorced spousal benefits and what they mean for other benefits available on a person’s record, when continuing income is counted, disability and retirement benefit amounts and a possible reason for extra payments. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and

getty Hundreds of thousands of small businesses and millions of people have been waiting for a second round of Paycheck Protection Program (“PPP”) loans to keep businesses and professionals operational.  Congress will hopefully answer the prayers of these borrowers, their employees, and Warren Buffet by enacting the “Emergency Coronavirus Relief Act of 2020” next week.   

15th July 1992: Democratic politician and Governor of the state of New York, Mario Cuomo, … [+] addressing the Democratic convention and nominating Bill Clinton for the Democratic presidential nomination. (Photo by Rick Friedman/Consolidated News Pictures/Getty Images) Getty Images When I write about well-funded pension plans, it’s generally to make a plea for risk-sharing plans,