If you took Social Security benefits too early and regret your decision, there are a few options available to potentially rectify the situation. Keep in mind that the strategies available to you may depend on your specific circumstances, age, and the time that has passed since you started receiving benefits. Here are some steps you […]
As a taxpayer, one of your primary objectives is to lower your tax liability toward the government. There are many legal ways to do this: IRA contributions, charitable donations, and contributions to 401(k)s are all good examples. There is also another way, a strategy called tax loss harvesting. Here are critical facts about tax loss […]
Sometimes the key to a successful retirement is to calculate the moment in life when you can retire on your own terms, instead of having retirement forced upon you. Hopefully, the droves of Americans now retiring are retiring on their own terms. More than half of Americans over the age of 55 have officially retired. […]
Banking, like so many things in life, can be expensive if you do it wrong. Banks themselves love to collect fees, sometimes raking in billions in essentially effortless income. Fees also help bank decide which customers they want to keep. People with large account balances or heavy corporate credit card usage to to be exempt […]
Financial advisors have a poor reputation. Multiple stories of malfeasance by advisors working for celebrities and professional athletes might lead one to think all financial advisors are crooks. The good news is that the characterization of criminal behavior among financial advisors is inappropriate. Just as in any profession, there are good advisors and there are […]
Retirement may seem a long way away. For some, it may seem like a pipe dream. But there will be a day when you will want to retire from the work world, and the only way that is going to happen is if you begin planning now. While most of the preparation for retirement involves […]
Saving up for retirement can be a challenge for those who are self employed, due to the lack of employer sponsored benefits, matching contributions, and automatic payroll deductions. Fortunately, there are several retirement plans available for the self-employed, independent contractors, and those with non-traditional income sources. Here are four retirement plans that can help you […]
Millions of Americans are dependent on Social Security for their post-retirement income. Data shows that nearly 20% of retirees are entirely dependent on it — with Social Security benefits constituting up to 90% of their income. The good news is that your benefits are not “fixed” in the literal sense. There are many steps you […]
Many investors are wary of putting their money into high-risk investments, as capital preservation remains their primary concern. At the same time, getting good returns is also important. Over time, inflation destroys purchasing power. In this post, we take a look at six lower-risk (although not zero risk) investments that can give you good returns […]
Did you know that you could be a millionaire and technically, not rich? The average U.S. millionaire has a net worth of between $2 million and $5 million. But those millions could be tied up in property, assets, and taxes owed. If you are extremely bad at personal finance, too, inflation could eat your millions […]
