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Revocable trust vs. will: A guide to estate planning in the age of coronavirus
Coronavirus has proven to be a major threat to our overall well-being. And with all the trouble it’s caused to families, now could be a good time to review your own estate planning needs. It’s something that many people may be overlooking, either accidentally or on purpose, as this economic and health crisis plays out.…
Read MoreTricks To Improve Your Credit Score Life Kit
Credit scores. If you’ve ever rented an apartment, bought a car or applied for a loan, you know what it is. It’s a score that tells lenders how financially reliable you are and how good you are at paying off your debts. But it’s so much more than that, too. There are rules to the…
Read MoreA self-directed IRA gives you control over a greater choice of investment options, but it also means more responsibility and risks
A self-directed IRA (SDIRA) is a kind of retirement account that allows you to invest in assets that are off-limits to regular IRAs. You directly manage your self-directed IRA, and so are responsible for researching your investments and their tax consequences. In general, self-directed IRAs are available only through a custodial service that specializes in…
Read More10 Books Warren Buffett Thinks You Should Read
Because a few fresh perspectives, and fresh strategies, may be all you need. One of my favorite things to do is ask writers whose books I love to list a few books they love; it’s a great way to get excellent recommendations. The same applies where business is concerned. If you’re a fan of Warren Buffett‘s, then reading…
Read MoreHere’s how the pandemic has upended the financial lives of average Americans: CNBC + Acorns survey
From jobs to savings to retirement plans, the coronavirus pandemic has upended many Americans’ financial lives. While millions are still unemployed and many have seen their emergency savings run dry, it isn’t all necessarily negative. Many are saving more and spending less. In fact of those surveyed in a new CNBC + Acorns Invest in You survey,…
Read MoreTax Changes and Key Amounts for the 2020 Tax Year
Between deepening Washington gridlock and election year politics, just a few months ago we were expecting 2020 to be a quiet year in terms of tax law changes. But, boy, were we ever wrong! The government funding bills signed by President Trump in December 2019 included a lot of tax provisions. The economic stimulus packages…
Read MoreOpinion: 10 things you should know about diversification
Picking a winner is harder than you think Holding a variety of assets reduces your portfolio’s overall level of risk. GETTY IMAGES/ISTOCKPHOTO One of the most important ways investors take care of their portfolios is by diversifying their holdings. If you’re not sure exactly what diversification is, or how to make it work for you,…
Read MoreI opened my first credit card 5 years ago—here are the top 5 rules I live by to responsibly manage my finances
I opened my first credit card five years ago and have added more to my wallet as my credit score improved. Here are the rules I follow. Many people celebrate wedding and work anniversaries, but one thing you may not think to reflect on is the anniversary of your first credit card. I recently realized…
Read MoreIRS to adjust stimulus payment errors for eligible individuals
Some individuals who did not receive their economic impact payment – or received less than they were eligible for – may not have to wait until next year to see the amount corrected. The Taxpayer Advocate Service will help the IRS resolve stimulus check issues beginning on August 10 – and the IRS will start correcting payment…
Read MoreTypical Retirement Savings By Age Groups: Are Yours Bigger?
Are your retirement savings growing as fast as other people’s in your age group? Did the conoravirus knock your retirement off track? The answer might be surprisingly upbeat. In a season filled with distressing news about the coronavirus pandemic, disappearing jobs, lost income and — don’t forget — civil strife and racial injustice, some Americans are constructing very…
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