Financial Planning is a broad topic that spans your entire financial life.
These articles cover your early finances, saving for retirement, saving for life events, Social Security, and finally estate planning.
Additionally, check out related articles in these sections: banking, investing, real estate, and risk management
One of the questions we all have to face is when to start taking Social Security benefits. This is an issue of importance because the amount you receive in benefits depends on how much you have earned in your lifetime, as well as whether or not you reach “full” or “normal” retirement age as determined … Read more When is the Best Time to Start Taking Social Security Benefits?
A qualified distribution is a withdrawal from a retirement account that does not result in an early withdrawal penalty. For retirement accounts that are generally withdrawn on a tax-free basis if the withdrawals are made when the account owner is the appropriate age or for certain exceptions, than a qualified distribution from that retirement account … Read more What are Qualified Distributions?
Roth IRAs are a great way to save for your retirement. Like Traditional IRAs, Roths are set up so that you will only have to pay income taxes on your money once rather than getting the double whammy of paying before you invest and again after you withdraw. Unlike Traditional IRAs, however, Roth accounts are … Read more How to Make an Early Roth IRA Withdrawal (and Why You Might Want to)
While many people relocate for the purpose of pursuing a new job, relocation can be an alternative for just about anyone who is looking for a lifestyle change, a decrease in living expenses, or who plan to move to be closer to family and friends. Whatever the reason you are considering a relocation, there are … Read more 8 Relocation Costs to Consider Before Moving
There is a limit which is set by the IRS every year for both Roth and Traditional IRA accounts. The current IRA contribution limits for those under 50 is $5,000 and for those over 50 it is $6,000. This allows for what is called a catch up. What is important in making the decision between … Read more The Real Difference Between Roth and Traditional IRAs
You can find countless approaches to save for retirement. For example, you can open a Roth IRA with a financial planner, contribute to a 401k through your company, contribute to a self-employed retirement plan, make investments through a discount brokerage firm, or a combination of the preceding. Having various retirement plans to pick from provides … Read more What Happens If You Contribute Too Much to Roth, IRA or 401k?
Where to keep your emergency fund? Should you keep it at home or invest it? In general, it’s smart to have some money available in case you face an unforeseen financial problem. The key here is that it should be readily available, but at the same time, you don’t want to keep it under the … Read more Where Should You Keep Your Emergency Fund?
While aspects of social security benefits can be complex for individuals, the matter often gets more complicated for married couples. To plan out the best strategies for dealing with social security when it comes to marriage, there are important things you need to know. First of all, there are terminologies used when discussing social security. … Read more Spousal Benefits and Social Security Strategies for Married Couples
One of the major financial milestones you are likely looking forward to is retirement. However, a successful retirement — how ever you choose to define it — is not likely to just happen. You will need a plan to reach your retirement goals. To help you better prepare for your retirement, here are six things … Read more 6 Factors to Consider as You Prepare for Retirement
One of my financial goals for this year was to increase the amount of money I put into my retirement account. Some day I would like to max out as many retirement accounts as possible, but for now I’m just happy to increase my regular contributions. In this economic climate, many are seeing that it … Read more How to Find More Money for Your Retirement Account