Planning for retirement is often the last thing recent college graduates will think about upon entering the job market and earning a steady income. However, there is no minimum age for individuals to start thinking about saving for the future, whether it is for the purchase of a new car or home, to support a […]
According to the Pew Research Institute, first-time marriages are on the decline, while a growing number of unions involve spouses who said “I do” at least once before. When individuals enter into second or third marriages, they are more likely to have children from a prior marriage as well as a retirement nest egg, a […]
In our hyper-social world, we increasingly store and share our personally identifiable information online through a variety of social media outlets, cloud-computing technology and digital devices. Your online identity could create challenges when you pass away or if you become incapacitated and can no longer access your accounts. Do family members know your usernames and […]
The additional time we are spending in our homes during the COVID-19 pandemic has given many of us a rare opportunity to pause and reassess our life choices, including those that affect our physical and mental well-being. For some, this has translated to a healthier diet, a more regimented exercise routine and more time spent […]
With the proliferation of identity theft, consumers are realizing that no one solution exists to protect their personal information all the time. Yet, millions of Americans continue to pay for services intended to reduce their risk of becoming victims even at a time when the government provides one of the strongest layers of protection for […]
The once idealized picture-perfect family of two parents and two-and-a-half children has faded, as a growing number of married couples choose to live child-free. According to the U.S. Census Bureau, the number of married couples without children has doubled over the past 45 years and is expected to continue on an upward trend. Despite the absence […]
Senior citizens required to take annual distributions from their IRAs, 401(k) plans and 403(b) retirement accounts have several alternative options in 2020. The CARES Act, which provides various forms of relief to individuals suffering the financial consequences of COVID-19, allows seniors to waive their RMDs for this year or payback to their retirement plans any […]
Significant declines in key economic indicators during the COVID-19 pandemic have encouraged the Federal Reserve to maintain its aggressive monetary policy, keeping benchmark interest rates near zero. Despite the financial fallout and future uncertainty created by the coronavirus, high-net-worth individuals should consider these periods of low-interest rates to be prime time for implementing certain estate-planning […]
The COVID-19 pandemic has given individuals pause about their own mortality and their wishes for managing their affairs in the event they become too ill to make those decisions for themselves. During these times of uncertainty, it is wise to be proactive, take stock of your physical and financial health and determine how you wish […]
The SECURE Act’s elimination of stretch IRAs poses a challenge to many high-net worth account owners who had hoped to pass their savings to the next generation and allow inheritances to continue growing tax-free over beneficiaries’ lifetimes. Under the law, non-spouse IRA beneficiaries must withdraw the entirety of inherited IRA accounts within 10 years of […]
