I am so happy to have some good news for Roth IRA investors finally. For 2023, the Roth IRA contribution limit will finally be increasing. While not life-changing, the new 2023 Roth IRA contribution limit is $6,500. This is up from the $6,000 Roth IRA limit in 2022. Why should you care about an increase
Retirement
To be sure, I’ve pretty much just invented the term “reverse nudge.” But here’s a definition: A reverse nudge is threshold, cut-off or similar characteristic of a policy by a governmental body, educational institution, employer, or similar entity which has the unintended effect of directing individuals to unwise behavior for their particular circumstances. That’s a
(083110 Brookline, MA) Mayela Fernandez is a full-time caregiver of her mother, Digna Salazar, who … [+] suffers from dementia, Tuesday, August 31, 2010. Staff photo by Angela Rowlings. (Photo by Angela Rowlings/MediaNews Group/Boston Herald via Getty Images) MediaNews Group via Getty Images I wrote last week about having a difficult conversation with your “first
Introduction Tax reimbursement clauses are a common clause in many trusts. Why are they used? Why are they important for you to understand? What Is A Grantor Trust? To understand the use of a tax reimbursement clause you need to first understand what a grantor trust is and how it works. When a trust is
For some time now, people have recognized the Child IRA as one of the most powerful retirement savings tools available. Why does the Child IRA, despite its obvious advantages, have so many obstacles? For one simple reason: It requires the child to have a job. The ideal Child IRA starts with your child working as
Most journalists will go crazy saying December’s jobs report is terrific. Indeed, 223,000 jobs were added and prime-aged women (ages 35-44) are going back at work. But the unemployment rate for workers older than age 55 increased from 2.5% to 2.7%. And there are more clouds in today’s report. Workers are not acting as feisty
As the old idiom goes, you’ve got to be in it, to win it. That’s certainly true of investing. But with fears of recession around the corner, along with 2022 losses that we haven’t experienced since the Great Recession of 2008, it’s easy to see why one might hesitate to enter the market today. For
Key Takeaways An analyst from JP Morgan has highlighted just how similar the stock market and bond market is behaving compared to the 1969 recession. Not only that, but there are a range of economic factors that look eerily similar too, such as rising oil prices, increasing interest rates and substantial government stimulus. So how
The beginning of the new year is a good time for pre-retirees and retirees to reflect on their goals and recent events that may have affected them. You’ll feel better if you make sure you’re still on track to be financially secure for the rest of your life, no matter how long you live and
Twice over the past few weeks I’ve heard a variation of the same story: An older adult tells her primary care doctor she is feeling severely depressed. Each time, the physician responds by saying depression is normal for seniors. Something like, “What do you expect? You’ve got aches and pains. Your friends are dying. It