In the US, Labor Day will be celebrated on Monday, September 2nd this year. Retirement planning and saving for retirement impacts not only the individual, but the family, the community, and the state of residence. Motley Fool reports in 2024: Image by WOKANDAPIX from Pixabay Employee Impact Less than half of the workforce in the […]
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Planning ahead for what life has in store for us provides a good foundation. And … planning is an ongoing necessity! The best laid (and made) plans are impacted by multiple variables and today, I’d like to share a few examples. https://pixabay.com/photos/mouse-figure-love-letter-valentine-3099088 Life Changes Reviewing plans regularly is highly recommended. Especially when there are changes
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What in the heck does “fund” a Trust even mean? When I first heard this term years back it confused me. Let me attempt to describe this in layperson terms 🌞 FYI, there are times when having a trust can give you a false sense of security. Having a trust is one thing, funding a
If you have a 401K and are over the age of 50, you are able to make a catch-up contribution to your 401K. In 2024, there will be a change to the popular catch-up contribution. Heads up! Catch-up Contribution Eligibility The IRS defines a catch-up contribution this way. “A catch-up contribution is an elective deferral
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How familiar are you with the term estate tax? Did you know that there can be both federal and state or inheritance estate tax in the US? Let’s look at what it means and how you may plan accordingly. The IRS defines estate tax as “the estate tax is a tax on your right to
Even the famous leave behind a mess for their families. This week, let’s review the current status of Anne Heche’s estate. It’s an example of what not to do … The Backstory August 5 2022, Heche accidentally drove her car into a Los Angeles residence. The collision resulted in a fire with Ms. Heche hospitalized.
It’s time for more US tax updates! Two important areas of focus this week: 1) 2022 Tax Year Benefit Changes and 2) Tax Brackets for 2023. Let’s get you ready for tax preparation and filing for the 2022 calendar year. On Friday October 21st, the IRS also announced the inflation-adjusted employee contribution limit for 401(k)s
Medical Costs impact us all. The statistics are sobering. How prepared are you for the possibility of a one time medical issue? Did you know that over a half a million Americans file for bankruptcy every year because of medical bills? Or that US medical bills are responsible for 66.5% of all American personal insolvencies?
Today, let’s define and protect your a$$ets 🙂 Those pesky little details are enough to drive us crazy sometimes! Assets, policies and beneficiaries – oh my! When the topic of life planning comes up, there are two aspects to discuss. What you have and how you designate a beneficiary (who receives it later). Asset Defined
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