It’s that time of year again. And though tax time should be no surprise, many Americans file for tax extensions. Whether you hire a tax professional to file for you or file on your own, you’re going to need to get organized to meet the April 18th deadline. Here are a few tips to help you stay on track so you can stress less and get your taxes filed by Tax Day.
Most people couldn’t bear the financial hardships resulting from unexpected events, such as a major house fire, a car accident, a disability, or the premature death of a family breadwinner, which is why one of the most important components of a sound financial plan should be your personal risk management strategy.
There comes a point in life where you want to begin sharing or gifting all the things you’ve collected over the years—stories, wisdom, financial wealth. And unlike the Ancient Egyptians believed, you cannot take your worldly goods with you when your light goes out.
A lot of people are under the impression that tax planning is only for high-wealth individuals. However, like financial planning, just about everyone can benefit from some level of tax planning, whether that means becoming better acquainted with the various tax savings options available, or making proactive decisions based on your current financial situation.
Some believe that in a digital world where information travels at light speeds, the playing field between investors and institutions is more level. In reality, information overload can fuel more irrational behavior in investors than provide any advantage.
Approximately 70 million retired Americans collect Social Security benefits. Of those retirees, 8 million also collect Supplemental Security Income (SSI). But Social Security is more than retirement income. It also provides life insurance and survivor benefits.
All United States citizens are subject to income tax from the federal government, even those who are retired. Living on a fixed income in retirement can be difficult, so it’s important to plan accordingly for how you will be taxed to get an accurate picture of your financial health.
Here’s what you need to know about taxable income in retirement.
That’s a phrase you often hear related to real estate. But it could also be applied to the world of
investments. Assume you have two different financial accounts for investing. The first is a traditional
IRA that you make deductible contributions into each year for a retirement fund. Any income earned in
When we’re young, we have so many lessons to learn—one of the most important being how to manage our money. If your kids are starting to enter the workforce, whether it’s a part-time job just for the summer or a full-time job after graduation, it’s essential they know how to practice healthy financial habits.
What would you do with your time if you weren’t working 40 hours every week? Everyone has a different idea of what they want retirement to look like, whether it involves traveling the world or staying comfortable at home.