Does Marriage Later in Life Mean Smaller Retirement Savings?
Our social patterns are changing, with millennials deciding to get married later in life. How different are they from boomers, when it comes to retirement savings? This deep dive explains Interesting research from the well-regarded Boston College’s Center for...
Another Tax-Sheltered Employee Retirement Plan: The 403(b)
There are similarities and differences between the 403(b) and the 401(k) plans, but both offer a good path to retirement savings. For those who work in a non-profit organization, like a school, social service agency, college, hospital system, or museum, the 403(b)...
How Do A Healthcare Proxy and Advanced Medical Directive Fit into an Estate Plan?
A comprehensive estate plan addresses several issues that come up at the end of life. In addition to distributing assets through a will, an estate plan should include a healthcare proxy. A healthcare proxy gives a trusted family member or close friend the legal right...
How Do I Find the Right Estate Planning Attorney?
Finding the right estate planning attorney is a lot like looking for a specialist in any field. They don’t have to be your best friend, but they must inspire confidence that they are looking out for you and your family. There are a number of ways to find an...
What You Need to Know About Inheritances and Taxes
Don’t spend it all at once: no matter how big or small your inheritance is, learn about the tax consequences before you begin enjoying or investing any funds. Depending on what kind of asset you inherit, you may have no taxes, a whopping tax bill, or something...
How is a 529 Plan Treated, If It’s Inherited?
If a family member who has 529 accounts dies are those accounts considered part of their estate? Let’s start by defining a 529 plan. A 529 College Savings Plan is a special type of investment account created pursuant to Section 529 of the Internal Revenue Code...
Don’t Go Overboard on Retirement Spending
Strike a balance between enjoying yourself and keeping an eye on your retirement budget. You may need your retirement funds to last for a lot longer than you once thought. People who enjoy shopping as a recreational activity may find that it does serious harm to their...