The Roth “five-year rule” typically refers to when you can take tax-free distributions of earnings from your Roth IRA, Roth 401(k), or other work-based Roth account. The rule states that you must wait five years after making your first contribution, and the distribution must take place after age 59½, when you become disabled, or when …
At the end of July, the credit rating of the United States has gone to “negative” from “stable” according to rating agency Fitch. Citing deterioration in the country’s public finances and the absence of a credible fiscal consolidation plan Fitch nevertheless affirmed its “AAA” rating on the country. High fiscal deficits and debt were already …
Ratings Agency Fitch Cuts Outlook on United States to Negative Read More »
In 26 states (and Puerto Rico), laws generally hold children financially responsible for certain debts of their parents. These laws are referred to as filial responsibility laws (or filial support or filial piety laws). The details of filial responsibility laws vary by state. Most require that a parent must be deemed unable to pay for …
Could You Be Responsible for Your Parents’ Nursing Home Bills? Read More »
Mortgage refinancing applications surged in the second week of March 2020, jumping by 79% — the largest weekly increase since November 2008. As a result, the Mortgage Bankers Association nearly doubled its 2020 refinance originations forecast to $1.2 trillion, the strongest refinance volume since 2012.¹ Low mortgage interest rates have prompted many homeowners to think …
Four Things to Consider Before Refinancing Your Home Read More »
