We all dread the day when we may be faced with making important life decisions on behalf of our aging parents. It's never an easy road deciding how to best care for the people who used to care for us, and there are plenty of variables that should be ...
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5 Ways You Can Plan For Retirement
Starting the retirement planning process is crucial in ensuring your financial stability. Strategic and thoughtful preparation is crucial, regardless of your employment status or impending retirement. With that in mind, here are five essential ways ...
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How to Make the Most of Your Military Benefits
Armed services benefits encompass a wide range of offerings, from education support to healthcare and retirement plans. However, making the most of these military benefits requires strategic planning and awareness. This guide will explore five tips ...
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Is It OK to Borrow from Your 401k?
Roughly 3 in 10 people now borrow money from their 401k retirement plans. Generally, you can borrow half your account balance -- up to $50,000 -- for as long as five years. But is it okay to borrow from your 401k? True, it's among the cheapest loans ...
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When Is the Right Time to Buy Long Term Care Insurance?
It's amazing how many people fail to plan for the future. It's also amazing how many people deny the reality that we only have a certain number of years before we have outlived our usefulness. We all know that life is short, but how many of us really ...
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Expensive 401k Mistakes People Make
If you're interested in saving for retirement, a 401k plan can't be beat. These employer-sponsored plans let employees save tax-free and choose from a range of investment options. The tax-free savings effectively lower your taxable income, which may ...
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34 Financial Tricks to Help You Retire Early
The other day our Stacking Benjamins podcast roundtable team was discussing an article on a popular mainstream financial website about how to retire early. I especially loved the story's first recommendation: "Start saving as early as you ...
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Is a Roth IRA Conversion Wise for You?
Unless Congress passes new tax laws during the next three years, the tax brackets from 2017 will be back in 2026, resulting in higher taxes for many people. For people in high tax brackets, wise tax planning is essential. One strategy to counteract ...
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Perfection When Managing Money: Is Close Really ‘Good Enough’?
I'm not a big football fan. Oh sure, I occasionally enjoy watching football on television. But, unlike hockey and baseball, I rarely bother buying tickets to attend football games in person.
That being said, my buddy had an extra ticket to a ...
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Mailbag: What Happens to My Mortgage If the Dollar Hyperinflates?
Love your blog, Len. Let's just say it has opened my eyes, and for that I thank you. I've not been able to get a reasonable answer as to what happens when the dollar fails and mortgage holders are saddled with a house they can't pay for. Also, if the ...
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Why Millennials Are Struggling Financially And What They Can Do About It
It is no secret that millennials are struggling financially. A recent study by the Federal Reserve revealed that 44% of millennials have nothing saved for retirement. This is a major problem, and it is something that millennials need to address if ...
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100 Words On: Why Tracking Your Net Worth Is So Overrated
Many people dream about reaching the million-dollar net worth milestone, as if that lofty benchmark somehow guarantees a strife-free financial life. Preposterous! Net worth -- the value of your total assets minus your total liabilities -- is ...
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7 Reasons Why You Should Use a Roth IRA for Retirement Savings
Are you thinking about fortifying your retirement savings with a Roth IRA?
Sure, Roth IRAs have their disadvantages -- but there are some really good reasons why you may want to consider one too. Here are the seven best:
Qualified distributions ...
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How to Retire Five Years Earlier Than You May Think You Can
Who wants to work 'til they're 75? Not me. That's why I'm constantly thinking of ways to make a little more or spend a little less in order to save more for the future.
If you have the same priority, then there is one change that you can make in ...
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7 Big Reasons Why a Roth IRA Isn’t the Best Way to Save for Retirement
Are you trying to decide whether or not you should be building your retirement savings with a Roth IRA?
It's true; using a Roth IRA has its advantages -- but there are also more than a few reasons that may make you think twice before getting one. ...
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How A Gold Backed IRA Can Help Protect Your Retirement Nest Egg
The stock market made great gains over the last several years. But that trend is clearly changing. As a result, if you have a traditional IRA or 401k, your retirement funds could be at risk. In fact, there is now plenty of evidence to at least ...
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Early vs. Delayed Retirement: Which Path Is Harder?
Not too long ago, I was driving my family along the foothills of Southern California, at the base of the magnificent San Gabriel mountains.
Believe it or not, the San Gabriels top out at over 10,000 feet; and while the panorama from the top of ...
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Budgeting Over 65: How Seniors Can Afford to Age in Place
Although aging is an undeniable part of life, most of us don't want to think about how our bodies and minds will change in the future. But even if we're in excellent health now, that could all change a few years down the line.
Statistics show that ...
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Roth IRA and Traditional 401(k) Differences: Which Is Better?
For many of us, retirement can often seem like something too far off in the future. However, as we approach retirement age, and as we are exposed with news of economic instability, we often wonder what is in store for us during retirement. Because of ...
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Lottery Fraud: Don’t Get Caught Paying ‘The Stupid Tax’
There's an old joke that goes something like this:
In order to raise additional revenue, the government is introducing a National Lottery with a daily grand prize of $50 million. Winners will get $1 annually for 50 million years.
Heh. I smile ...
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