We've all read or heard the stories: someone passes away without a will, and potential heirs engage in a drawn-out legal battle that can take years to resolve. The emotional toll is immeasurable, with relationships suffering irreparable harm that can last for generations.
By early summer you have probably filed your taxes, seen your refund (if there was one) and deposited it to your bank. Now you can forget about taxes until next April, right? Well, I think you know the answer to this question. In fact, now is one of the best times of the year to review your tax situation and make adjustments.
The maximum 4-year undergraduate federal borrowing limit of $27,000 can be a drop in the bucket with prices of attendance skyrocketing to $90,000+ annually. Here's where private student loans come into play.
Compound interest is interest calculated on both the original principal and all previously accumulated interest. Compounding adds earned interest back into the original principal balance of your account, which then earns even more interest on the new higher principal balance, “compounding” your returns. Interest can be compounded at different time intervals depending on the terms of the savings instrument: annually, quarterly, monthly, or daily. The more frequently interest is compounded, the faster your principal balance grows. For investors and savers, compound interest is a positive benefit.
We always hope that life will go this way, but life is not always like that. Therefore, taking action is key. I’ve been helping folks reach their goals for over 30 years and one thing I’ve learned. Those that leave things to chance, are generally not successful.
Some people like surprises but a lot of people don’t. When it comes to retirement, I think most of us want to know that there will be no surprises, especially after a long career of hard work. Unfortunately, many retirees are in for a surprise around retirement. From earning a paycheck to withdrawing funds Financially, retirement involves big financial changes. Tapping savings, Social Security and investments is a lot different than collecting a paycheck. One of the biggest changes is your tax situation. Here are 6 big impacts to consider: