What Student Loan Forgiveness Means for Your Finances
...It’s a good time to take a fresh look at your complete financial picture if part of your debt will go away...
...It’s a good time to take a fresh look at your complete financial picture if part of your debt will go away...
...It won't change this year's tax bill, but it can help prevent investment slippage and lower taxes on future gains...
...When it comes to investing, keep it simple instead...
...According to research of over 160,000 U.S. employees from 2014-2016, 41.4% cashed out at least part of their 401(k)s when leaving a job — and 85% of those drained their balance entirely...
...This may seem like an obvious rubric for making a where-to-live decision, but in practice, people very often make their moving choices based on things that seem salient in their minds, but will, in fact, have a minimal impact on their overall satisfaction..
...If your parents run out of money and you need to support them, it will have a big impact on your own finances...
...Starting next year, unused funds from a 529 plan can be rolled over into a Roth IRA for your kid—without penalty...
...Ultimately, the key point is that because children are now allowed to remain on their parents’ health insurance plan until age 26, non-dependent children covered under a family HDHP may be eligible to contribute to their own HSAs. And as HSAs offer significant tax advantages, advisors can help clients ensure that opting for family HDHP makes sense financially for the family as a whole!...
...Instead of just our physical property and finances, we also have to plan for what happens to our digital estates after we die—and find a digital executor to follow through on those plans...
...Here are 20 mistakes that investors can make with IRAs, as well as some tips on how to avoid them...
...If you quit or are laid off, don't forget about your retirement savings...
...No. 1 financial-appeal mistake: Not asking for a review in the first place...
...Despite the ongoing shift to an increasingly digital world of automatic electronic verification of everything from transactions to identity, the reality is that today, there are still a number of documents that individuals must be able to provide to various companies, regulators, or government agencies...
...these mini breaks might be a good way to see how your spending habits might change...
...The takeaway is that even people who expect to rely on government resources if they develop a long-term-care need should think through the financial and other implications of long-term care for their retirement plans. And people who expect to rely on their own resources or purchase some type of insurance to cover long-term-care expenses should be methodical about it, thinking through their prospective coverage needs and weighing their options...
...For Smaller Givers: Take Advantage of the Deduction Available for Nonitemizers...For Midsize Givers: Use Qualified Charitable Distributions...For Larger Givers: Donate Highly Appreciated Assets From Taxable Accounts...
...The mandatory withdrawals that must commence from tax-deferred accounts at age 72 are called required minimum distributions, not required minimum spending...
...On the other hand, employer stock can introduce risk and complexity into an individual's financial plan. After all, employees have a lot riding on their companies' wherewithal even before employer stock enters the picture, because that's where they earn their paychecks. By owning company stock, employees effectively double down on their bet on the financial health of their firms. Moreover, company stock can introduce tax headaches, especially for people who aren't well versed in the tax treatment of these assets...
...One way to mitigate the risk of exercising options at precisely the wrong time is to exercise a portion of a grant at a time...
...Where does your responsibility as a parent to your kids begin and end...