When Congress returns from recess, it will have a slew of proposals to consider, including some that could have a big impact on your retirement.
You’ve invested in a 401(k), made contributions for decades and finally are ready to withdraw–or take distributions, in retirement-plan speak. However, you now have to pay taxes on what you take out, effectively reducing your nest egg. What to do? Here are several ways to minimize taxes on withdrawals.
Short careers and big paychecks can lead to big problems, if you’re not careful. Most people work to avoid financial stress during retirement. Paying attention
There is nothing wrong with letting your inheritance sit, until you have explored all of your options and have a full understanding of how a windfall can affect your personal taxes.
Your estate plan isn’t finished just because your attorney has drawn up a will. Proper asset titling is the next step.
Parents are often more than happy to offer financial advice to their children. They like to feel needed and want to make sure you’re on solid financial ground. However, it’s important to turn the tables and ask about their financial plans, too.
The retirement income crisis has spurred Congress into action. Both the House and Senate introduced bills earlier this month, which would provide U.S. workers with expanded opportunities to participate in employer-provided retirement plans.