Even with the best financial planning, unexpected emergencies still arise in our lives. If you find yourself in need of cash quickly, you may be hesitant to dip into your retirement savings. There’s a good reason to be hesitant. If you touch the money you have saved for retirement; it can have unwanted consequences. But
Retirement
Most of us seem to have a general realization that elder abuse happens but few really understand it until it happens to your own loved one. It’s shocking. The most common abusers in our country are the elder’s own family members. Caregivers are next in frequency, followed by professionals, such as financial managers. Is there
President Joe Biden has recently proposed a 39.6% top marginal income tax rate, up from 37%. The top tax rate is scheduled to be increased to 39.6% after 2025 when the current Tax Cuts and Jobs Act is set to expire even if Congress doesn’t pass the President’s proposal. If Congress does pass the legislation to
“No one enjoys being wrong,” Daniel Kahneman told Adam Grant, who recounted their conversation during a recent interview, “but I do enjoy having been wrong, because it means I am now less wrong than I was before.” Grant describes Kahneman, the psychologist seen as the originator of and greatest contributor to the field of behavioral
By Kerry Hannon, Next Avenue There’s nothing small about the U.S. Small Business Administration (SBA). Isabella Casillas Guzman, who was sworn in March 17 as its 27th Administrator and the first Latina in that role, gets it. “I want all small businesses to feel like the giants that they are in our economy,” Guzman told me
By David Jarmul, Next Avenue Reed Kimbrough, 70, a former Army pilot and management executive, and his wife Charlcye, 65, who worked in broadcasting and sales, traveled widely before he retired in October 2018 and she in March 2020. They leapfrogged from Colorado to New York City and internationally from China to South Africa. A year
The Covid-19 pandemic has had far-reaching financial impacts. It is important to understand the pandemic’s effects to help mitigate additional financial consequences that may develop in the future. One big revelation is that the pandemic exacerbated the growing economic inequality our society experienced over many decades. The negative impact of the Covid-19 pandemic has been
By Ivy Eisenberg, Next Avenue Countless people have launched a second act in their 50s. But how many have attempted a third? Had I not been kicked to the curb at 56, I might not be living my best life now in my third act — eight years later. Prologue I knew half a century ago
In this new, post-pandemic, economic environment, I believe tax-efficient investing will be more important than ever. We’ve seen common loss-harvesting tactics, perhaps even the advanced idea of tax alpha, but frequently overlooked is the concept of tax location: where to put the assets to maximize after-tax return. With the upheaval in quicker-term investing (think meme
Leading cryptocurrency exchange Coinbase has partnered with small-time 401(k) plan provider ForUsAll to offer employees crypto exposure through their retirement plans. Employees of participating companies will be allowed to use a “crypto window” — similar to the brokerage window offered in many conventional 401(k)s — to invest up to 5% of their retirement funds in