Your retirement account may be one of the most valuable things you own. Many people choose to name their children as the beneficiaries of these accounts. They think it is a way to easily transfer their wealth if something happens to them. But, that assumption is only partially true. Some factors make this type of transfer more complicated than you might think, especially if your child is a minor.
When you retire, it's important to update your will to reflect your new lifestyle. With the help of an experienced estate planning attorney, you can create a comprehensive plan that protects you and your loved ones.
Investing in digital currency has skyrocketed in popularity, but believing that the investment is completely safe from government overreach is a dangerous assumption.
As the baby-boom generation phases into retirement, the future of social security is uncertain. There are a few strategies the government may use to close the gap in income, and you need to be prepared for each possibility.
If you’re an “owner-only” business, you may think your retirement planning options are rather limited. On the contrary, you can enjoy some of the same retirement plans available to larger businesses.
It may be difficult to imagine your eventual transition into retirement. Yet, if you want to build personal financial security and ensure business continuation, it is important to plan ahead.
Retirees have many options when choosing where to live. While climate, proximity to family, and the cost of housing will likely factor into the decision about where to retire, prospective retirees should also take into account the amount of taxes they will owe in the state and town where they have their primary residence.
Of the mistakes older Americans can make in managing their retirement savings, failing to take required minimum distributions (RMDs) from qualified retirement accounts, like IRAs and 401(k) accounts, is among the most serious.
You know the amount of planning needed to maintain daily operations and grow your business. Now, you may be ready for retirement. But, the planning does not end. What you do next, and how you navigate potential tax issues and regulatory pitfalls, can make a big difference in the long-term success of your retirement.
In the rush of daily business activities, business owners can lose sight of what they had originally hoped to accomplish through their continuous efforts. Over time, as the business grows, personal objectives may also change.
