On November 2, 2015 President Obama signed the Bipartisan Budget Act of 2015. With the stroke of a pen he and Congress eliminated some lucrative Social Security (SS) benefits that had been on the books for well over a decade. Here’s a brief summary on what has changed and who can still take advantage of…
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If you own a small business, chances are you expect to use the equity you’ve built up over the years to fund all or part of your retirement. At the same time, you may want to pass on ownership of the business to your family to ensure that they can benefit from it beyond your…
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If you’ve been working for a midsize or larger employer, chances are you’ve been utilizing a 401(k) to save for retirement. And even if you haven’t, you probably have an Individual Retirement Account (IRA) into which you’ve been saving every year. The great thing about these savings accounts is that the IRS gives you a…
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I get this question a lot from my own clients and from others nearing retirement who own homes on which they still hold a mortgage. There’s a widely-held belief that you should eliminate all your debt before you retire. Is that true? And does that include paying off your mortgage? The answer, as is common…
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The Pew Research Center found that some 36% of all 18 to 31-year-olds were living at home with their parents in 2012. As the parent of one such child I fully understand what life is like under those circumstances. I want to offer a few financial planning tips to those of you who are in…
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No, this blog is not about how the custodian holding your IRA investments protects itself against hackers. Rather it’s about the legal protection your account offers against creditors. Although most of you probably will never have to deal with irate business creditors, keep in mind that should you end up being among the large minority…
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