Blog
Ed Slott’s Top 10 IRA Rollover Mistakes
1. IRA-to-IRA Rollovers and Roth IRA-to-Roth IRA Rollovers Mistakes: Using 60-day IRA rollovers instead of using transfers to move IRA funds Once-per-year rule is for all IRAs and Roth IRAs IRS has no authority to correct these...
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Are You Maximizing 401(k) Contributions?
The more money that you can save when you are working, the easier it should be for you to retire and enjoy your golden years. Unfortunately, Social Security may no longer provide a sufficient income to live on during retirement. To...
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Appropriate Checklists for Year-End Tax Planning
What are appropriate checklists for year-end tax planning? Tax planners often develop checklists to guide taxpayers toward year-end strategies that might help reduce taxes. Typically, suggestions are grouped into several different...
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Planning For Multiple Beneficiaries in 5 Easy Steps
When do multiple beneficiaries exist? Multiple beneficiaries exist when an individual names more than one beneficiary for their IRA. When should you name more than one beneficiary? When you want your IRA assets to go to more than one...
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Understanding the Estate Planning Process
It is common for people to put off planning their estates. After all, no one wants to anticipate his or her own death. In addition, many people may believe that only the wealthy require estate planning or that all that is involved is...
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Data breaches are inevitable – here’s how to protect yourself anyway
It’s tempting to give up on data security altogether, with all the billions of pieces of personal data – Social Security numbers, credit cards, home addresses, phone numbers, passwords and much more – breached and...
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Planning to Save for Higher Education- Roth IRA Vs. 529 Plan
Benefits of a Roth IRA Roth IRAs are NOT included as an asset on the FAFSA (Free Application for Student Aid) form. Most other assets, including the amount in 529 plans, are included when calculating your EFC (expected financial...
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Personal Money Management- Help Your College Student "Make the Grade"
As Melanie Marshall (a hypothetical case) prepares to head off to college, she’s looking forward to her newfound independence. Although Melanie will be on her own for the first time, her parents, Joan and Al, can at least rest...
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How Long Before the Fed Changes Its Course?
Quantitative easing and short-term rates near zero could be ending soon. Federal Reserve Chair Jerome Powell seems to have capitulated on plans to taper the Fed’s stimulus program as of mid-July, causing the bond market to rally...
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Is Tax Avoidance Ethical? Asking on Behalf of a Few Billionaire Friends
Some of the U.S.‘s wealthiest individuals reportedly pay just a tiny fraction of the billions of dollars added annually to their fortunes in federal income tax – sometimes they pay nothing at all. Investigative journalism...
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Eight Key Facts to Know About Social Security
A whopping 70 percent of adults in their 20s through 50s fear that the Social Security program might be reduced or eliminated by the time they retire, and don’t know what to expect.1 It's important for all adults to be informed...
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2021 Medicare Income Planning
Part B and D Charges The Medicare health care system is largely government funded, but individuals pay premiums to participate in two portions of it.Medicare charges premiums to participants in Medicare Part B, covering doctor visits,...
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Shortages and Bottlenecks Expose Weak Links in U.S. Supply Chains
U.S. consumers won't soon forget the troubling shortages of personal protective equipment during the early days of the pandemic, or when the first stay-at-home orders spurred panic buying and stress-inducing shortages of toilet paper,...
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Why Inflation Rate Doesn't Tell the Whole Story
Why the inflation rate doesn’t tell the whole story – all it takes is a spike in a category like used cars to cause consumer prices to soar. Markets, economists and policymakers have been fretting about inflation for months...
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Making Sense of Medicare Parts A, B, C & D
With its four distinct parts, Medicare can be an alphabet soup of complexity. We provide an overview of the various components and how they impact your healthcare costs. Medicare is available to virtually all U.S. citizens and legal...
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Dad's Day Out: Must Visit Destinations for Father's Day
When it comes to shopping for Father’s Day, it can be tricky to avoid the old clichés of a new tie or a seventh (unnecessary) screwdriver for his toolbox. Besides, what if your dad isn’t the businessman or handyman...
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When To Call Me- Times to Call Your Financial Advisors
Most of us go to see professionals when we’re in trouble or during times of crisis. Think about it. We go to the doctor when we’re sick. We go see a lawyer when we have a pending legal matter. We go see a counselor when...
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The New IRS Tax Rates and Deductions for 2021
Although a year away, your 2021 tax planning should have already started. Amidst all the pandemic news and 2020 election drama, many might have missed that the IRS also quietly published new 2021 tax rates in late October.
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Key Benefits of a Financial Advisor
Whether you've been wondering about boosting your investments' rates of return or are concerned that your financial affairs are a bit too complicated for your next of kin to handle, it may be time to seek advice from a financial...
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