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Millions of parents across the country will start receiving money from the federal government as soon as Thursday, July 15. Under the Child Tax Credit expansion put forth in under President Joe Biden’s $1.9 trillion American Rescue Plan, some households will start receiving monthly payments, instead of a lump sum payment in the past, and in most cases…
How much do you know about claiming Social Security retirement benefits? Take this quiz and find out
KEY POINTS Knowing the ins and outs of Social Security retirement benefits rules can help you claim a bigger check. Yet some facts about the program continue to trip up pre-retirees. Here’s where respondents to a recent quiz tended to stumble. Take the quiz to see how well you would do. The age at which…
When Do You Sell a Winning Stock? Chuck on the Northshore picked up a stock years ago, and has had a successful run. Is it time to get out, and take the profits? Do you have questions for Gregory? Press the ASK GREGORY below and your question could be featured next! ASK GREGORY We’re Here…
KEY POINTS As inflation creeps higher, many retirees worry about their nest eggs. Retirees may fight inflation by shifting portfolio assets and their mindset, financial experts say. But some advisors aren’t making significant changes to clients’ core portfolio allocations. Rising inflation has startled many retirees, who now worry about outliving their savings. The consumer price…
Millions of parents across the country will start receiving money from the federal government as soon as Thursday, July 15. Under the Child Tax Credit expansion put forth in under President Joe Biden’s $1.9 trillion American Rescue Plan, some households will start receiving monthly payments, instead of a lump sum payment in the past, and in most cases…
When it comes to deciding when to start receiving Social Security, earlier or later are not your only options. Sometimes, in fact, you can do both. That would seem impossible, of course. But an alert reader brought this additional approach to my attention following my Retirement Weekly column a month ago about a so-called “Claim…
For many people, achieving millionairehood before retiring will not be enough. Yes, a million dollars is a lot of money, but if you plan to withdraw, say, 4% of it in your first year of retirement (adjusting future withdrawals for inflation), it will generate $40,000. That, along with Social Security income, may be enough to…
Q.: I’m thinking of retiring and rolling my Roth 401(k) to a Roth IRA. A co-worker says if I roll it to a Roth IRA, I can’t touch it for five years without penalty. I thought penalties ended at 59½. I’m 68. Can you clear this up for me? Sam in Dallas A.: Sam, I’ll try. …
Advice for Young Investors Joel in New Orleans is a local teacher, and asks Gregory for where to find advice for introducing kids to the world of investing. Gregory recommends a book: The Latte Factor. Do you have questions for Gregory? Press the ASK GREGORY below and your question could be featured next! ASK GREGORY…
Opinion | Peter Thiel’s Taxes Aren’t the Real Story
ProPublica resorts to padding to make its use of stolen tax data look like ‘important’ journalism. The latest tax reporting extravaganza from ProPublica reminds me of the Steve Martin routine that began, “You too can have a million dollars and never pay taxes. . . . First, get a million dollars.” Why does Peter Thiel, subject of…
An additional after-tax contribution to your 401(k)—now allowed in the plans of many large employers— can grow tax free if it’s moved to a Roth account If business titan Peter Thiel’s $5 billion tax-free individual retirement account has you jealous, here’s a way to build a pot of tax-free retirement savings without paying much in taxes: A…
