When an investment loss has a silver lining
One key thing to remember is, that you must have purchased these shares in a non-retirement account. Tax losses cannot be realized in a retirement account such as an IRA, 401k etc.
Are You Eligible for a Health Savings Account?
HSAs are an excellent option to pay for health care costs in retirement. While one can use 401(k) plans and individual retirement accounts for medical costs, HSAs offer more tax savings than both traditional or Roth retirement accounts:
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.
What Are Estate Taxes?
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.
Which Is Better: Pre-tax Vs. Roth Contributions to Your IRA?
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.
Is my money safe at my bank?
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?