
Empty Nesters: Making the most of it
One of the greatest benefits of being an empty nester is that you have more leisure time. And that can mean more time to travel and explore places that you didn’t have time for when the kids were around.
One of the greatest benefits of being an empty nester is that you have more leisure time. And that can mean more time to travel and explore places that you didn’t have time for when the kids were around.
On the Federal side, under current legislation, most don't need to worry about that as it only applies to those with estates over $12.92 million (or $25.84 million if married) BUT, on January 1, 2026, this amount will revert back to the 2017 amount of $5 million, adjusted for inflation unless the law is changed.
Taxpayers may make a tax-deductible contribution to a Traditional IRA if you (and your spouse if you are married) are NOT covered by an employer-sponsored retirement plan. The annual contribution limit in 2023 = $6,500 (or $7,500 if over age 50). Note you cannot contribute more to your IRAs than the income you earn each year.
First there was Silicon Valley Bank (SVB) on March 10th and then First Republic Bank (FRB) on May 1st. Who’s next? Did anyone lose money? Do I need to worry?
ax refunds are OUR money. Other than receiving a tax credit, a refund is simply an interest free loan that you gave Uncle Sam.
For the last twelve months the Federal Reserve has been on a mission to crush inflation by raising short-term interest rates. But will this be sustained? Should I put all of my money into high yield certificates of deposit now? What about mortgage rates? Is 6% the new normal for mortgages? If so, how do I afford a new home mortgage payment at that rate?