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Welcoming a New Family Member This Year?: What every new parent and grandparent should know about wealth planning
Having a child or grandchild is a joyful milestone, but it also marks a new era of responsibility – especially when it comes to your family’s long-term financial wellbeing. If you’re a new parent or grandparent, now is the time to confront the “what if” questions that may have seemed remote before. What would happen…
Read MoreHow and when to apply for Medicare
What is Medicare, and how does it work? Medicare is the federal health insurance program for people who are 65 and over. If you are under 65, you may be eligible to get Medicare earlier if you have a disability, End-Stage Renal Disease (ESRD), or ALS (Lou Gehrig’s Disease). Medicare is divided into four parts:…
Read MoreBetween Jobs, Not Out of Options: Real Ways to Make Ends Meet
By Jeff Nguyen | PiggyBank-Power.com Being between jobs feels like freefall — bills keep coming, structure vanishes, and doubt moves in fast. But this isn’t pause mode. It’s pivot time. You don’t need a perfect plan — you need traction. That means cutting what drags, using what’s owed, and building forward, not just treading…
Read MoreThe Hidden Cost of Skipping Home Insurance: ‘You Could Lose Your Home’
By Jeanine Skowronski from Investopedia Many Americans are going without homeowners insurance, simply because they can no longer afford it. But this move can have devastating financial consequences, especially with extreme weather events on the rise. Uninsured homeowners may be responsible for most, if not all, costs incurred during disasters, thefts, and accidents in or around…
Read MoreYour Guide to Taxes for Retirees and Retirement Accounts: A cheat sheet on contributing to, withdrawing from and converting 401(k)s, traditional IRAs, Roth IRAs and other funds
By Laura Saunders To encourage retirement saving, Congress has provided Americans with an array of tax-favored accounts. These provide individual Americans many benefits, but there are pitfalls in terms of when and how you contribute to, and withdraw money from, them. Some, including most traditional and Roth IRAs, are owned and funded by individuals. Others, such as 401(k) and 403(b) plans,…
Read MoreFebruary is the Month of Love
25 Financial Secrets to Keep the Love Going Strong in Your Relationship No matter whether your relationship is brand new or your celebrating your 50th, these financial tips can help make your financial love life smooth sailing. People often have twice the credit they actually need. Avoid temptation by never charging more than 50% of…
Read MoreA Summary of Key Changes for Tax Year 2025
A Summary of Key Changes for Tax Year 2025 More than 60 provisions that impact your 2025 returns that you file in 2026 Looking ahead, here is what you need to know for 2025 planning. The Internal Revenue Service released its annual inflation adjustments for tax year 2025. The details, outlined in Revenue Procedure 2024-40,…
Read MoreTrump Econ 101: Not sure what the next four years of Trump might mean to you financially? For reference, try the four years beginning in 2017 through January 2021.
I know for many of you there is a high degree of excitement and anticipation for the next four years of a Trump presidency. I also know that for many of you there is fear and trepidation. What I also know is that The United States is and incredibly well-designed country and our political system,…
Read MoreThe Proposed “Tax Hike” on Middle Class Retiree Homeowners That No One Is Talking About.
By now you’ve probably heard quite a bit about the different economic proposals from the presidential candidates Kamala Harris and Donald Trump. While the left and right media continue to beat up each other’s proposals and even to a large extent lie about how the presidential candidates’ proposals will affect you economically, there is one…
Read MoreInherited IRA Rules & SECURE Act 2.0 Changes
Losing a loved one is always difficult. Understanding the rules of money passage during this time is especially important. One way wealth passes from generation to generation is through inherited IRAs. When it comes to these individual retirement accounts (IRAs), it’s important to understand the rules that have recently changed related to the Setting Every…
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