The onset of the new year prompts a sensible commitment to dedicating daily hours to enhance one’s understanding of personal finance. Our journey begins with an exploration of the rule of 72, paving the way for investors to delve into aligning their investment strategies with retirement planning. Recognizing that not everyone aspires to work indefinitely, … Read more
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email In 2023, 40% of Americans said they don’t make New Year’s money resolutions and 68% said they have no written financial plan at any point in the year. But having a budget and an awareness of exactly how much is coming in … Read more
The arrival of the New Year signifies more than just celebrations and social events for everyone. For certain individuals, it marks the commencement of a fresh investment venture or a unique personal financial commitment aimed at ensuring their future stability. This holds particularly true for elderly individuals seeking to invest a lump sum without delving … Read more
As the new year unfolds, our aspirations centre around witnessing the growth of our finances. There’s an unparalleled satisfaction in realizing your financial objectives, particularly after dedicated periods of investment. The ongoing fluctuations in the market have spurred numerous individuals to delve into the intricacies of personal finance. Simple calculations, such as formula 72, have … Read more
Richard Stephen | Istock | Getty Images When Joyce Debnam’s husband passed away, she began receiving $1,400 a month in Social Security survivor benefits. Eight months later, that income unexpectedly changed. The trigger: Debnam retired from her job at the United States Postal Service in 2013 after four decades of service. That life change prompted … Read more
Tax breaks for charitable donations come in many flavors, and this year Congress has a new one for seniors called an IRA charitable gift annuity. It allows older owners of traditional IRAs to donate account funds to a charity and get tax breaks plus income payments for life. Brian and Deborah Smith of Park City, … Read more
Nosystem Images | E+ | Getty Images Many older women outlive their spouses and may not expect higher future taxes after suffering from the loss. But there are ways to prepare, according to financial experts. American women have a significantly higher life expectancy than men, according to data from the Centers for Disease Control and … Read more