Here’s how to retire a millionaire, according to finance pros
Goran Babic | E+ | Getty Images Building a $1 million nest egg may seem an impossible feat. However, amassing such retirement wealth is within reach for almost anyone — provided they take certain steps, financial advisors say. “You might think that, ‘Well, I have to become a Silicon Valley entrepreneur to become rich,’” said […]
Here’s how to pay for taxes on your Roth IRA conversion, advisors say
Srdjanpav | E+ | Getty Images More from FA Playbook: Here’s a look at other stories impacting the financial advisor business. When a Roth conversion is completed, you’ll owe regular income taxes on the converted balance, based on your current-year taxable income. Ideally, you’re “managing the tax bracket,” said CFP Jim Guarino, managing director at […]
Here’s how to maximize your tax breaks for charitable giving
Mixetto | E+ | Getty Images As year-end approaches, you may be eyeing a donation to charity — and certain gifting strategies can boost your tax break, experts say. In 2023, U.S. charitable giving hit $557.16 billion, up roughly 2% compared to 2022, according to Indiana University Lilly Family School of Philanthropy’s annual report released […]
How to leverage the 0% capital gains bracket as bitcoin surges
Hispanolistic | E+ | Getty Images Crypto investors could face higher taxes amid the surging price of bitcoin. But if you’re in the 0% capital gains bracket, you can reduce future taxes with a lesser-known strategy, experts say. The tactic, known as tax-gain harvesting, is selling profitable crypto in a lower-income year. You can leverage the […]
2025-26 FAFSA will open on Dec. 1 — Here’s how to prepare
The Free Application for Federal Student Aid for 2025-26 will be available for all students and contributors on or before Dec. 1, the Education Department says. Typically, students have access to the coming academic year’s form in October, but this year’s delayed release follows a “phased rollout” meant to address reported issues from the 2024-25 […]
How to leverage higher income limits for the 0% capital gains bracket
dowell | Moment | Getty Images The earnings limit for the 0% capital gains bracket will rise in 2025, which could offer tax planning opportunities, financial experts say. At sale, profitable assets owned for more than one year qualify for lower taxes — known as long-term capital gains. Those rates are 0%, 15% or 20%, […]
The great wealth transfer is underway. Here’s how to prepare
Andreswd | E+ | Getty Images The great wealth transfer is underway and families need to prepare, according to certified financial planner Stacy Francis, president and CEO of Francis Financial in New York City. An estimated $84 trillion of wealth will change hands by 2045, with the majority going to Gen X and millennial heirs, […]
Here’s how to know if active ETFs are right for your portfolio
Izusek | E+ | Getty Images Exchange-traded funds are generally known for passive strategies. But there has been a surge in actively managed ETFs as investors seek lower costs and more precision, experts say. Active ETFs represented just more than 2% of the U.S. ETF market at the beginning of 2019. But these funds have […]
How to incentivize your kid to start investing for retirement
Momo Productions | Stone | Getty Images Once you’ve decided that opening a Roth individual retirement account for your child is a great idea, now comes the hard part: convincing the child to save for a far-off retirement instead of spending that hard-earned money. I have some ideas for making the case to your child. […]
How to invest in bonds amid falling interest rates
Lucy Lambriex | Stone | Getty Images As the Federal Reserve cuts interest rates, investors should review their bond portfolio, which could see a boost from dovish Fed policy. The central bank in September kicked off its first easing campaign in four years with a 50 basis point rate cut, which brought its benchmark rate […]