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10 Ways to Reduce Your 401(k) Taxes
How the pros help clients minimize their tax burden If you have a traditional 401(k), you will have to pay taxes when you take distributions. Unfortunately, that 401(k) money is subject to the worst kind of taxes—ordinary income taxes. The amount you pay is based on your tax bracket, and if you’re younger than 59½, add 10% (for early withdrawal) in…
Read MoreTop Retirement Savings Tips for 55-to-64-Year-Olds
There’s still time to give your savings a good boost before you retire If you’re between 55 and 64 years old, you still have time to boost your retirement savings. Whether you plan to retire early, late, or never ever, having an adequate amount of money saved can make all the difference, both financially and psychologically.…
Read MoreI Killed My Teenager’s Fancy College Dreams. You Should, Too.
Forty-five million Americans owe a collective $1.6 trillion in student debt. Here’s why my daughter won’t be one of them. Photo illustration by Slate. Photos by Vasily Koloda on Unsplash, master1305/iStock/Getty Images Plus, and ayzek/iStock/Getty Images Plus. A couple months ago, my 17-year-old daughter’s guidance counselor called her into his office to ask pretty much…
Read MoreYou can still give back this season without going broke
Prioritize the causes you care about, and be strategic about giving iStock/Getty It may not come as a surprise that millennials are passionate about giving back. Millennials as a generation believe in supporting causes more than individual organizations, are likely to be influenced by peer networks when it comes to giving and want to give…
Read MoreManaging Inflation Risk in Retirement
Longer retirements mean inflation can put a serious dent in even the best-laid plans. You need an income strategy to help keep up with rising prices. Getty Images While there are many potential risks to consider when planning for retirement, one that is often overlooked is inflation. Most people factor in inflation when planning how…
Read MoreTHE BIG BITCOIN HEIST
With its cheap geothermal energy and low crime rate, Iceland has become the world’s leading miner of digital currency. Then the crypto-crooks showed up. Someone was targeting the security guard. He felt he was being followed. His dog barked in the middle of the night. His wife saw fleeting figures lurking around their home. One…
Read MoreUber CEO: This is the subject young people should study in college, no matter their career goals
Dara Khosrowshahi, chief executive officer of Uber Technologies speaks on a webcast during the company’s initial public offering on the floor of the New York Stock Exchange, May 10, 2019. Michael Nagle | Bloomberg | Getty Images Uber CEO Dara Khosrowshahi has a recommendation for graduating high school seniors on what to study in college.…
Read MoreMillennials Want to Retire Too. Here’s How.
Yes, millennials have special challenges, but there’s a way. Here’s some tough-love advice on money and life for millennials from a CPA who is also a millennial himself well on his way to financial independence. Getty Images Millennials, such as myself, seem to be known the world over for our poor choices, efforts to alter…
Read MoreWealthy score estate tax win, large gifts won’t lose Trump tax benefit in 2026
Increased exemption amounts are scheduled to expire in 2025. By Brittany De LeaFOXBusiness 2020 Dems’ tax hikes would cost 413,000 jobs: Study National Taxpayers Union senior fellow Mattie Duppler and Republican Maryland congressional candidate Kimberly Klacik analyze 2020 Democratic candidates’ economic plans and how they would impact U.S. employment numbers. Watch the latest video at foxnews.com…
Read MoreHere’s how online scammers prey on older Americans
Here’s how online scammers prey on older Americans, and what they should know to fight back Elderly individuals are more likely to be targeted by online financial fraud, and when they lose money, it’s a higher amount than average, according to researchers. An Aspen Institute Tech Policy Hub study recently tackled the issue of how…
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