All About Credit Scores
Whether buying a car or purchasing a home, credit has become integral to our everyday lives. Having easy access to credit goes hand in hand with having a good credit score, so it’s important to know how to maintain a positive credit score and credit history.
Common Factors Affecting Retirement Income
When it comes to planning for your retirement income, it’s easy to overlook some of the common factors that can affect how much you’ll have available to spend.
Estate Planning and Income Tax Basis
Income tax basis can be an important factor in deciding whether to make gifts during your lifetime or transfer property at your death.
Insurance Issues that Concern Married Couples
If you are married or planning to marry, you should determine how marriage impacts your insurance needs. The lack of proper insurance protection can lead a married couple into financial ruin.
Wills: The Cornerstone Of Your Estate
Even if you’re young or your estate is modest, you should always have a legally valid and up-to-date will. This is especially important if you have minor children because, in many states, your will is the only legal way you can name a guardian for them.
Converting Savings to Retirement Income
During your working years, you’ve probably set aside funds in retirement accounts such as IRAs, 401(k)s, or other workplace savings plans, as well as in taxable accounts. Your challenge during retirement is to convert those savings into an ongoing income stream that will provide adequate income throughout your retirement years.
Risk Management and Your Retirement Savings Plan
By investing for retirement through your employer-sponsored plan, you are helping to manage a critically important financial risk: the chance that you will outlive your money. You also need to manage risk within your account to help it stay on track. The following are steps to consider.
401(k) Plans: The Basics
Retirement plans established under Section 401(k) of the Internal Revenue Code, commonly referred to as “401(k) plans,” are one of the most popular types of employer-sponsored retirement plans.
Year-End Investment Decisions
In terms of investment planning, investing in capital assets may increase your ability to time the recognition of some of your income and may help you to take advantage of tax rates that are lower than the ordinary income tax rates.
Charitable Giving and Estate Plans
Philanthropy doesn’t just give personal satisfaction, it can also give you a current income tax deduction, help avoid capital gains tax, and reduce the amount of taxes your estate may owe when you die.