Some pros and cons of Roth conversion
Because of retirement-related federal legislation passed in the last few years, many individuals are considering converting some or all of their traditional IRAs to Roth IRAs. One major reason is that most beneficiaries of traditional IRAs other than surviving spouses are no longer allowed to “stretch” distributions from their traditional IRA inheritances over their... READ MORE
How to make retirement more meaningful
A purpose-driven retirement is all about finding meaning and fulfillment in your post-work years. It is more than just relaxing and enjoying leisure time; instead, it involves actively seeking activities and interests that align with your values and passions. Much of our identity in life is tied to work, but retirement gives us the opportunity to rethink our purpose and to rediscover who ... READ MORE
Consider gifting stock to grandchildren
If you have never given a child shares in a publicly traded company as a holiday present, that’s probably just as well. Presents are supposed to be fun. Investing in equities — as remunerative over the long haul as they have proven to be —isn’t fun a lot of the time. That said, the impulse to give stocks as a gift to a youngster is understandable, even noble. We want children to... READ MORE
No, your Social Security isn’t going away
The Social Security Administration (SSA) is making a concerted effort to quell fears over dwindling reserves in the trust fund. In a new episode of the SSA Talks podcast, SSA chief actuary Steve Goss offered some much-welcomed reassurance that, while there is still a risk that benefits will lessen as the reserves are depleted, there’s no need to believe Social Security will run... READ MORE
Time to give bonds and CDs a closer look
Traditionally, financial advisers have urged investors to allocate 60% of their portfolios to stocks and 40% to debt instruments. This approach made sense during bull markets for stocks, when the average return for a diversified stock portfolio performed much better than for a diversified bond portfolio. Lately, however, the Federal Reserve has been increasing interest rates to curb... READ MORE
Reducing financial abuse of older adults
Financial crime against older Americans is a growing problem. Victims of fraud who are 80 and older lose an average of $39,200 every year. People living with dementia are at an especially high risk of becoming victims. As their memory and other thinking skills decline, people with dementia may struggle to make financial decisions. They may not remember or report the abuse — or... READ MORE
Own Series I Bonds? Consider cashing in
In 2022, a spike in inflation made normally staid Series I [inflation-protected] savings bonds almost as popular as tickets to Taylor Swift’s Eras tour. I bonds issued between May and October 2022 earned a six-month composite rate of 9.62%, creating a surge in demand from yield-hungry investors that briefly overwhelmed the TreasuryDirect website where they’re sold. I bond rates... READ MORE
Give to charity from IRA for max tax benefits
Many Americans donate to charity each year. Knowing that the money can help an organization that is near and dear to your heart helps you feel warm and fuzzy inside. Getting a federal tax break for the contribution might be an added bonus. However, these days, most people who donate can’t write off their gifts. That’s because only individuals who itemize deductions on Schedule A of... READ MORE
Medicare Advantage — pitfalls to avoid
[Ed. Note: We are currently in the thick of Medicare’s annual “open enrollment period,” which runs from October 15 to December 7 every year. That’s the period during which you can a) switch from Original Medicare to a Medicare Advantage plan, or vice versa, b) join, drop or switch to another Medicare Advantage Plan, and c) add, drop or change prescription drug coverage. It is... READ MORE
Leave your heat on all day or turn it off?
With energy prices increasing, heating your home is proving difficult for many to afford. This peak in prices is leading many to search for alternative ways to save on energy bills during the winter. Fortunately, the solution can be easier than you think. If you’ve ever wondered whether or not you should leave your heat on low all day or turn it off when you’re gone, keep... READ MORE
Money 2025
