Values can help set goals and purpose. Some millionaires are reluctant to talk to their kids about family wealth. Perhaps they are afraid of what their heirs may do with it. If a child comes from money and grows up knowing they can expect a sizable inheritance,...
Get the most out of your benefits. Social Security will be a critical component of your financial strategy in retirement, so before you begin taking it, you should consider three important questions. The answers may affect whether you make the most of this retirement income source. When...
The case for aligning your portfolio with your outlook and worldview. Do your investment choices reflect your outlook? Are they in agreement with your values? These questions may seem rather deep when it comes to deciding what to buy or sell, but some great investors have...
Having your information stolen could be costly. Many Americans have taken steps in recent years to protect their personal information, but savvy cybercrooks have overcome some of those defenses. A 2018 Javelin Research report found that identity theft hit an all-time high in 2017, affecting an...
What are the limits for donor-advised funds and private foundations? Among the big changes in the 2017 Tax Cuts and Jobs Act (TCJA) were new limits on standard and itemized deductions. These limits and restrictions created new hurdles when planning deductions with tax advantages in mind....
Breaking down the basics and what each part covers. Whether your 65th birthday is on the horizon or a while off yet, you should understand the parts of Medicare—what they cover and where they come from. Parts A and B: Original Medicare. Part A is hospital insurance....
Both traditional and Roth IRAs can play a part in retirement planning. IRAs can be an important tool in your retirement savings belt, and whichever you choose to open could have a significant impact on how those accounts might grow. IRAs, or individual retirement accounts, are investment...
A deduction intended for pass-through business owners. Many households, businesses, and other organizations are arranging their documents for the coming tax season. The changes to the tax code have inspired a great deal of discussion, confusion, and clarification. Something you might want to know as a business...
Being healthy not only makes you feel good, but may also help you financially. We constantly hear how important it is to maintain a healthy lifestyle. That is not always easy, especially in the face of temptation or the easy option of procrastination. For some, the...
Have a home-based business? Have a teen driver? Consider umbrella insurance. In 2017, the United States had a record 11.5 million millionaires, up from 10.8 million in the previous year. An increase in personal wealth may bring greater financial flexibility; it may also bring greater liability. Individuals...