The products listed here, many or all of them, are from our partners, who pay us. This affects the products we write about as well as the location and arrangement of the products on a page. However, this does not influence our evaluations. Our opinions are our own. This is our revenue model and a … Read more
Deciding on a simplified employee pension (SEP) IRA vs. a Roth IRA might not be an easy decision. Business owners now have a strong retirement savings account with the SEP IRA to store large sums of money for their future. For most people, a very flexible option for retirement savings is a Roth IRA. Both … Read more
Financial advice that is commonly accepted states that we should minimize our current tax liability as much as possible (while adhering to IRS code regulations, of course) and then postpone paying the taxes for as long as feasible. The idea behind this is that by doing this, we can retain more of our money for … Read more
The majority of people who save for retirement frequently concentrate on their investment returns and the amount of money they are setting aside. These are undoubtedly crucial elements to consider when making plans for a comfortable retirement. However, taxes are another crucial—and frequently disregarded—factor that is equally significant. Different states tax retirement, pension and Social … Read more
The world of trusts is not one-size-fits-all. Your specific desires for the management of your assets both now and in the future should be reflected in the kind of trust you select. According to Terry Ruhe, senior vice president and regional trust manager for U.S. Trust, “a trust can help you navigate specific tax concerns … Read more
Retirement is finally here, or at least just around the corner, after all your hard work. Use these financial strategies to optimize your wealth at this stage of life. Congratulations! You’ve reached your 60s, a time of life where you can finally enjoy the fruits of your labor and pursue your passions. But before you … Read more
A trust is a legal arrangement where one person (the grantor) transfers ownership of assets to another person (the trustee) to hold and manage for the benefit of a third person (the beneficiary). While the grantor typically retains some control over the trust during their lifetime, there may be situations where property needs to be … Read more
The products listed here, many or all of them, are from our partners, who pay us. This affects the products we write about as well as the location and arrangement of the products on a page. However, this does not influence our evaluations. Our opinions are our own. This is our revenue model and a … Read more
Q. I’m planning to retire from federal service in 2024. Even though I’ve been using TRICARE health insurance for years thanks to my spouse’s military retirement, I believe that I may enroll in the Federal Employees Health Benefits (FEHB) program during the upcoming Open Season and be able to keep the coverage until I retire. … Read more
The Civil Service Retirement System (CSRS) provides retirement, disability, and survivor benefits for most U.S. civilian service employees working for the federal government. It was replaced in 1987 by the Federal Employees Retirement System (FERS), but employees who were originally set up through the CSRS still receive their benefits through that program, unless they were … Read more