Is a Roth IRA right for you? This can bump other earnings into a higher tax bracket and potentially increase the taxability of your Social Security benefits. In 2023 and later, once you turn 73 the IRS requires that you take required minimum distributions from traditional IRAs.
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Many people plan to take an early retirement, so when that day arrives, they're ready for it. But what if you were to face an unplanned retirement? Would you be prepared to deal with the financial issues?
Bipartisan group introduces bill to help Americans maximize Social Security benefits
A bipartisan group of senators proposed legislation and has asked the Social Security Administration to help Americans better understand the optimal time for them to claim their benefits.
The top 5 misconceptions about alternative investments
By Deshawn Peterson Alternative assets and private markets have gained popularity in recent years as investors seek to diversify their…
NEPC, LLC, one of the country’ s largest research-driven investment consultants and OCIO providers, today published the 17th annual edition of its Defined Contribution Plan Trends and Fee Survey, which examines current plan investment trends, features, and innovations across major sectors, and how these plans have evolved over the years.
The SECURE Act 2.0, passed by Congress in late 2022, features numerous ways for you to save more money in your tax-advantaged retirement accounts. Here are several of the bill's provisions and what they mean for you. For example, if you must earn an additional $10,000 before you hit the next highest tax bracket, consider pulling more taxable income out of your…
Female advisors see ‘helping people’ as main career draw, training as hurdle
In a recent survey of female financial advisors, more than half of all early-career respondents said “helping people with finances” was their motivation for becoming an advisor. They noted lack of training as a top hurdle early on.
Middle-income families offer opportunity for financial advisors, report says
Although middle-income Americans often have limited means, they do present valuable opportunities for agents who are willing to offer the financial guidance they need, especially in today’s volatile economy.
In the past year, the Federal Reserve has employed several interest rate hikes in an effort to stabilize the U.S. economy. Depending on your situation and financial institution, your debt may have gotten more expensive or your savings might have grown. “For folks who are looking for loans, they can often find a credit union with lower rates because credit unions are…
A current Fairfield County resident formerly from New Haven County will spend years in prison for tax evasion and defrauding investors by using their funds to pay his personal expenses. New Canaan resident Brian Hughes, age 58, formerly of Madison, was sentenced to two and a half years in prison on Monday, March 6 for defrauding investors of two companies, and for…
Goldman Sachs: Threat of recession is most important issue for equities
The most important question for the equities market is whether the U.S. economy will enter a recession in 2023, according to Goldman Sachs, which recently predicted a 25% chance of a recession occurring in the U.S. in the next 12 months.
6 in 10 women believe we are in or approaching a financial crisis
With concerns about market conditions top of mind, unease about retirement is up among women investors
"Even if the US economy avoids a recession this year, consumers will likely struggle to make payments on their auto loans, especially with the Federal Reserve planning to keep raising interest rates," Bloomberg reported on Thursday. The difference now is the monthly payment has ballooned to $717 per month in Q4 of 2022, up from $659 a year ago.
A report by temp and staffing agency Randstad USA shows that 70% of workers are rethinking their retirement plans as they feel their present financial situation is delaying their plans to retire earlier. "There are people that are pushing the retirement age out," Jennifer Brock, president of Cobb County- based human resource consulting company, Human Resources…
A report by temp and staffing agency Randstad USA shows that 70% of workers are rethinking their retirement plans as they feel their present financial situation is delaying their plans to retire earlier. "There are people that are pushing the retirement age out," said Jennifer Brock, president of Georgia- based human resources consulting company Human…
We work hard to bring new and relevant information to our clients. The bill, passed by Congress and signed into law by President Biden in late 2022, could help you bolster your retirement savings and income strategy. Distributions must commence by April 1 of the year after turning 73..
Many people make financial New Year's resolutions, such as reducing their debts or contributing more to their retirement accounts— both of which are certainly worthy goals. But among those who planned to make a financial resolution for 2023, the primary reason was the desire to build an emergency savings fund, according to a December 2022 study by research…
Before you turn 65, you'll want to become familiar with Medicare's rules and features. For someone who' s married and files taxes jointly, and whose MAGI for 2021 was $194,000 or less, the Part B premium for 2023 will be $164.90 per month, and the Part D premium will be whatever amount is charged by their Medicare plan. But if their 2021 MAGI was between $194,000 and…
Genworth, an insurance company, reports these median annual costs:. Over $100,000 for a private room in a nursing home. In fact, someone turning 65 today has an almost 70 percent chance of needing some type of long-term care services in their remaining years, according to the U.S. Department of Health& Human Services.
Katja Rivera, 64, is a massage therapist and theater director in Berkeley, California, who says she’ s never earned more than about $30,000 a year. When Rivera retires in a few years, she expects to receive a Social Security check based on her ex’ s greater earnings. Many divorced people don’ t realize they can get Social Security benefits derived from their ex-spouse’ s…
