Retirement

Many workers daydream about retiring early, focusing on the joys of not working and having more time to pursue their interests. However, you’ll need to do some homework to turn your fantasies into reality. Let’s dig deeper and look at five steps you should take with your finances to support a retirement at age 50.

Recent articles have noted the excellent economic statistics we are seeing today, many of which are the best in a generation. The labor market is flourishing, and not just for rich folks for once. The unemployment rate is at its lowest level in 60 years—jobs are more plentiful than they have been in a generation.

The earliest most people can apply for Social Security benefits is 62. You can apply for survivor benefits at age 60 and not married. Whenever you apply for Social Security benefits before your full retirement age, those benefits are always reduced. If your full retirement age is 67, the list below shows what percent of

A Health Savings Account, often called an HSA, allows you to pay for some medical expenses with tax-free money. As you can imagine, there are limits to how much you can contribute each year and how to spend the money saved in your HSA. There is good news if you are eligible for an HSA.

This is a real case and the facts are as reported to us by Wanda (real names changed, of course), the wife of an elder. Wanda is 82 and her husband, Kurt is 81. They have amassed significant wealth, though Kurt was always in charge of managing it. But a few years ago, Kurt got

I was recently shopping for a sauna and was surprised to see a note from several sellers saying that “your purchases may be HSA eligible,” which got me thinking. What other purchases might be eligible? What Is An HSA? A health savings account lets you save money for various healthcare expenses. You contribute money to

If you think of your 401(k) plan in the context of how to leverage your retirement savings, think about 401(k) matching. Leverage makes your job as an investor ever so much easier, and what can be better than a company match? Common Matches The most frequent matching formula for Vanguard 401(k) plans that have matching

At the start of 2023, prior year uncertainty and economic turbulence persisted, which caused concerns and market volatility. However, as we approach the end of 2023, there is cause for optimism. The market has rebounded, economic data indicates a strong labor market, and wages are keeping up with inflation. While you cannot control the uncertainty

Share to Facebook Share to Twitter Share to Linkedin Understanding the differences between mutual funds and index funds is fundamental for any investor navigating the diverse landscape of investment options. While both vehicles play critical roles in portfolios, they operate quite differently. Read on to learn more. The Basics Of These Investment Funds What Is

Fandom can both have huge benefits, and deep, deep risk. When investing, it’s best to leave your fandom for other activities. This downside to fandom became obviously apparent to me this week, when it was reported that Dallas Mavericks owner Mark Cuban has agreed to sell a majority stake of the franchise to the Adelson

If you work for a company that offers you a way to leverage your savings, it pays to learn as much as possible about how that works. By leverage I mean using a tool to make it easier to achieve your retirement savings goals. It just so happens that a company 401(k) is such a

Time is running out. You need to develop and execute a two-year plan to avoid the major tax increases that are likely to come. The Tax Cuts and Jobs Act, enacted in 2017, reduced income and estate taxes significantly. But to comply with congressional budgeting law, many of the act’s provisions automatically expire at the

North Carolina has a long track record for managing one of the best public pension plans in the U.S. Moody’s Investors Services recently reported that North Carolina has one of the top pension plans in the nation when looking at its Adjusted Net Pension Liability. And CEM Benchmarking ranked North Carolina’s pension system as the

Share to Facebook Share to Twitter Share to Linkedin Estate planning is an often overlooked topic during the financial planning process. Discussing estate planning with others can be uncomfortable and easily avoided, yet this is an important part of financial planning. Every adult with at least a modest net worth or who is in the

The tax advantages of a health savings account (HSA) are unique, even better than any IRA or 401(k) plan. As a result, an HSA is like a “super IRA,” and you should contribute as much as you can afford, subject to IRS limits on HSA contributions. Let’s dig into the details and reasons. Who’s Eligible

Recently, a North Dakota woman was charged with killing her boyfriend to get his inheritance. The man was expected to inherit $30 million, and officials believe her plan was to make a claim that she was his common-law wife so she could get the money from his estate. Whether the man had a will is

Share to Facebook Share to Twitter Share to Linkedin Blue chip stocks have long been popular for investors of all wealth and ages. This article will explain blue-chip stocks and list five top picks for the upcoming year. Blue-Chip Stocks Explained Definition Blue chip stocks refer to shares of well-established, financially robust companies with a

Time is running out. You need to develop and execute a two-year plan to avoid the major tax increases that are likely to come. The Tax Cuts and Jobs Act, enacted in 2017, reduced income and estate taxes significantly. But to comply with congressional budgeting law, many of the law’s provisions automatically expire at the

AI is a new frontier and can be potentially extremely helpful in healthcare. Assembling all known information to solve a problem could benefit many. But there is a dark side to AI, which many have predicted. When it comes to health insurance and denials of care to patients, AI has already triggered a class action

The SECURE Act 2.0, enacted at the end of 2022, created a new type of qualified charitable distribution (QCD) that generally is being called the Legacy IRA. As I’ve said before, QCDs are the best way for most people age 70½ or older to make charitable contributions. When you’re 70½ or older, instead of writing