You may think that a trust is only for the rich and famous. The fact is, you don’t have to have a whole lot of wealth to consider a trust. Trusts can provide many things that a regular will or estate planning may not be able to cover. Here are two reasons you may want [...]
When the topic of estate planning comes up many times tangible wealth can be glossed over or forgotten. With a focus on investments, monetary assets and real estate the amount locked up in tangible assets may be missed. Depending on the state you live in there can be complex tax laws governing tangible assets. Here [...]
Part of your retirement planning should be to consider what is going to happen with your home. In many cases the home is your primary asset which means that there are several ways that it can be used in estate planning. Don’t forget when planning that your home is also where you live and where [...]
If you are paying into a 401k program you may be taking advantage of the tax deferred benefit of the program. This can be appealing because of the promise of a lower tax rate when you take the money out during retirement. There are times where having tax deferred money can actually work against you. [...]
You have probably been told from the time you have started working that it is never to early to save for retirement. With all the options available, finding a place to put money for the future is easy. Is too much being put away though? The 80 Percent Rule The 80 percent rule says that [...]
If you have done any retirement planning at all you have run across both of these terms. While they sometimes can seem interchangeable, there are some very distinct differences between a 401k and an IRA. Employer vs. Individual The main difference between a 401k and an IRA is who sets them up. An IRA is [...]
Experts say that mid retirement begins around age 70. This means that on the average, you have been retired for 5 or so years and have a good handle on how your retirement is progressing. Obviously if you waited until your 70’s to retire, this period may have shifted for you a bit. Planning out [...]
Experts define early retirement as the years from when you retire until you are 70. Of course, if you do not retire until you are 70 or more, then these steps can apply to you as well. Now that you have been retired for a year or two, you should be able to do some [...]
When is the right time to retire? That is a very complicated question that can have several variables in the answer. While some people continue to work well into their 70s, either by choice or by necessity, most people have plans to retire at some point. So when is the right time for you? Questions [...]
The idea of retirement appeals to all of us. Having time to do what you want, when you want an not having to worry about answering to a job or other commitments is a wonderful prospect. Choosing to retire early can have consequences that you are not thinking about. The Effect on your Spouse If [...]