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This year has been challenging on many fronts, but one financial opportunity may have emerged from the economic turbulence. If you’ve been thinking about converting your traditional IRA to a Roth, now might be an appropriate time to do so. Conversion Basics Roth IRAs offer tax-free income in retirement. Contributions to a Roth IRA are
Is Now a Good Time to Consider a Roth Conversion? Read More »
Here are some things to consider as you weigh potential tax moves before the end of the year. Defer income to next year Consider opportunities to defer income to 2021, particularly if you think you may be in a lower tax bracket then. For example, you may be able to defer a year-end bonus or
Year-End 2020 Tax Tips Read More »
The coronavirus pandemic has forced consumers to change many habits, including how they shop. This is particularly true for baby boomers (ages 56 to 74). Nearly half (45%) said they shop online more, with some product categories seeing a large shift in online purchases.
Baby Boomers Are Making More Purchases Online Due to COVID Read More »
The next presidential election is just weeks away and its potential impact on the market increases with each passing news update. A record number of voters have already cast their ballots. This year will be one for the record books in many respects. At this point, the election’s outcome is anyone’s guess despite all the
Election Results and Market Returns Oh My! Read More »
Individuals in the “sandwich generation” have the dual responsibility of providing care for an adult — often a parent — while also raising children. Caring for others can be very rewarding, but the day-to-day demands of supporting multiple generations can take a financial, emotional, and physical toll on sandwiched caregivers. If you’re a sandwich generation
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Market turbulence in 2020 may have wreaked havoc on your investment goals for the year. It probably also highlighted the importance of periodically reviewing your investment portfolio to determine whether adjustments are needed to keep it on track. Now is a good time to take on these five year-end investment tasks. 1. Evaluate Your Investment
Five Investment Tasks to Tackle by Year-End Read More »
In 2020, 74% of workers said they expected to work for pay after retiring from their regular jobs, but only 27% of retirees said they had actually done so. This large gap between expectation and reality has been fairly consistent in surveys over the past 20 years, and there is no reason to expect it
Working in Retirement? Read More »
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 »