Jenny Hunnicutt poses in front of the Royal Caribbean Ultimate World Cruise, which she’s been on for nearly nine months traveling the world. While on board, she’s working remotely for her writing and consulting business based in Florida. Courtesy: Jenny Hunnicutt Income made ‘worldwide’ is taxable Despite a Bahamas flag flying atop the Serenade of … Read more
The first presidential debate between U.S. President Joe Biden and former U.S. President and Republican presidential candidate Donald Trump is projected on a screen projector during a watch party hosted by the Michigan Conservative Coalition in Novi, Michigan, U.S., June 27, 2024. Emily Elconin | Reuters With interest rate cuts from the Federal Reserve likely … Read more
Johner Images | Johner Images Royalty-free | Getty Images Many retirees don’t think about taxes until it’s time to withdraw funds from a pretax account, which can be a costly mistake, financial experts say. Only 3 in 10 Americans have a plan to reduce taxes on retirement savings, according to a Northwestern Mutual study from January … Read more
Eternity In An Instant | Stone | Getty Images The financial benefit of starting to invest early The time element is crucial for investing. A teenager opening a retirement savings account could end up with hundreds of thousands more dollars compared to someone who began saving in their 20s. For example, say you put aside … Read more
Riska | E+ | Getty Images The first question someone should ask is how much cash do they still need and whether it makes sense to invest some of that money elsewhere, according to CFP Ashton Lawrence, director at Mariner Wealth Advisors in Greenville, South Carolina. Typically, financial experts recommend keeping an emergency fund of … Read more
Wand_prapan | Istock | Getty Images Guaranteed retirement income is a challenge Many baby boomers face a challenge of how to maintain their lifestyle once they retire. Social Security benefits typically replace about 40% of a worker’s pre-retirement income. Annuities may help provide another source of guaranteed income. However, many people do not seek those … Read more
Jitalia17 | E+ | Getty Images Series I bonds will pay 4.28% annual interest from May 1 through October 2024, the U.S. Department of the Treasury announced Tuesday. Linked to inflation, the latest I bond rate is down from the 5.27% annual rate offered since November and slightly lower than the 4.3% rate from May … Read more
When you receive equity compensation from an employer, it typically requires a comprehensive financial plan — and restricted stock units are no exception. In 2000, only 20% of public companies granted restricted stock or restricted stock units, primarily for senior executives or higher, according to the National Association of Stock Plan Professionals. That percentage, however, has jumped to … Read more
Jacob Wackerhausen | iStock / 360 | Getty Images If you’ve inherited an individual retirement account since 2020, you could have a shorter timeline to withdraw the money, which can trigger tax consequences. But there are a few things to consider before emptying an inherited account, experts say. Under the Secure Act of 2019, so-called … Read more
Jessie Casson | Digitalvision | Getty Images It’s hard to lose a spouse, and a costly surprise makes it even more difficult, especially for older women — higher taxes. But financial experts say there are several ways to prepare. In 2022, there was a 5.4-year life expectancy gap between U.S. sexes, according to data from … Read more
