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Income Planning

5 Things To Know About The COVID-19 Stimulus Payments

The federal government is providing stimulus checks to Americans in the coming weeks. GETTY Editor’s note: The portion of this story related to claiming the stimulus payment based on you 2020 income has been clarified to make it clear that if you don’t get a check now, but qualify for a payment based on your…

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What’s in the $2 Trillion Senate Coronavirus Bill

How households, businesses, taxes and more are affected by the package The stimulus package adds $27 billion to an emergency fund that could give a boost to dozens of projects by pharmaceutical companies and academic groups developing drugs and vaccines against coronavirus. Here, people carry donated boxes of N95 masks. PHOTO: JERRY HOLT/STAR TRIBUNE/ASSOCIATED PRESS The $2…

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Recovering the Financial Costs of Caregiving

What to do when assisting a loved one socks your wallet Family caregivers open their hearts and their minds when caregiving for ailing loved ones. They often open their wallets, too. But there are a few ways you can try to recover the financial costs of caregiving, as experts explain below. According to the 2017…

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Here’s how to maximize traditional and Roth retirement savings

KEY POINTS “Asset location” involves strategically putting your investments in accounts based on the type of tax treatment they will get. If you have money in both a traditional 401(k) plan or IRA and a Roth version, there may be ways you can maximize the differences in taxation to reduce the amount you’d owe in…

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6 Questions to Ask If You Want to Work in Retirement

Questions to help you figure out where, and how, to work part-time The percentage of people who work in retirement has been steadily rising for years. And by 2026, the Bureau of Labor Statistics estimates, a whopping 30% of people age 65 to 74 will be in the labor force, up markedly from just 18% in 1996.…

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What You Should Know About Variable Annuities

Many people are sold a variable annuity with the understanding they will receive a lifetime income stream, which sounds like a good idea when planning for retirement. The truth is there usually is a big price to pay when it comes to variable annuities. The biggest drawbacks include the fees and the potential to lose value…

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Missed the Boat on Medicare Enrollment? Sign Up Now.

Medicare’s general enrollment period lets you sign up for coverage if you didn’t do so when you first got the chance. Medicare provides critical health benefits to millions of seniors, and those benefits kick in once you turn 65. In fact, your initial window to sign up for Medicare starts three months before the month of your 65th…

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