Recent college graduates aren't the only ones carrying student loan debt. A significant number of older Americans have student debt, too. In fact, student loan debt is the second-highest consumer debt category after mortgage debt. In total, outstanding student loan…
The first part of 2020 was rocky, but there should be better days ahead. Taking a close look at your finances may give you the foundation you need to begin moving forward. Mid-year is an ideal time to do so,…
It's never too soon to start teaching children about money. Whether they're tagging along with you to the grocery store or watching you make purchases online, children quickly realize that we use money to buy the things we want. You…
The Roth "five-year rule" typically refers to when you can take tax-freedistributions of earnings from your Roth IRA, Roth 401(k), or other workbased Roth account. The rule states that you must wait five years aftermaking your first contribution, and the…
Key Retirement and Tax Numbers for 2020 Every year, the Internal Revenue Service announces cost-of-living adjustments that affect contribution limits for retirement plans and various tax deduction, exclusion, exemption, and threshold amounts. Here are a few of the key adjustments…
According to a recent survey, 76% of Americans reported having at least one financial regret. Over half of this group said it had to do with savings: 27% didn't start saving for retirement soon enough, 19% didn't contribute enough to…
A donor-advised fund (DAF) offers an easy way for a donor to make significant charitable gifts over a long period of time. A DAF is similar to a private foundation but requires less money, time, legal assistance, and administration to…
Summary: A donor-advised fund offers an easy way for a donor to make significant charitable gifts over a long period of time. A donor-advised fund is similar to a private foundation but requires less money, time, legal assistance, and administration…
If you donate your car to charity, you may claim a tax deduction for the donation if you itemize your deductions on your federal income tax return. To get started, you'll need to pick a qualified charitable organization, determine the…
Summary: Generally, to protect assets from creditors, owners must give up control over and access to those assets. A self-settled spendthrift trust allows individuals to put assets beyond the reach of creditors while retaining some control over and access to…
