It’s not necessarily an easy transition from military life to a civilian one. You’ll have to find a job and a place to live, to start. “In a lot of ways, you are taken care of in the military. You get free medical and dental, and you just go to the local naval hospital for
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Open enrollment season is underway for many workers. And as employees pick their health plans for the year ahead, they may be missing out on some valuable new offerings. Given record-low unemployment and competition to attract and keep top talent, more employers are upping the ante with voluntary benefits, according to William Ziebell, CEO of
Catherine Ledner | Taxi | Getty Images Before leaving active duty, there are several things that military service members should do to get ready for civilian life. Top of the list is being financially prepared for the transition and beyond. “It’s not just about changing your job, it’s about changing your way of life,” said
Tara and John Falcone. Tara launched her own financial education company, ReisUp, after her husband was restationed in Japan at the end of 2015. Source; Tara Falcone Holding a steady job may be tough if you are married to a member of the military. Since military families generally move every two to three years, the
Guido Mieth | DigitalVision | Getty Images It’s not just saving for retirement you need to worry about, but drawing down your money at the right time, too. The IRS requires savers to make withdrawals from their retirement accounts starting at the age of 70½. “They’ve allowed you to defer taxes, but they need to
Hero Images | Getty Images There’s a downside to this year’s stock market appreciation: Some investors are in line for a surprise tax bill. Mutual funds distribute capital gains to their investors close to the end of each year. By now, many investors have received notifications from their fund companies about that, and they can
cmannphoto | Getty Images Get out your pencils and calculators: The IRS has released a breakdown of what’s ahead for the 2020 tax year. Taxpayers who’ve been paying close attention will notice that the Tax Cuts and Jobs Act overhauled the tax code. Those sweeping changes include a higher standard deduction — it’s now $12,400
For some savers, the lure of moving assets to a Roth individual retirement account from a traditional IRA or 401(k) plan often boils down to the tax-free income it will deliver in their golden years. Yet there are some less obvious reasons for certain retirees or retirement savers to consider doing a so-called Roth conversion.
College graduates will soon be hit with their first student loan bill aywan88 | E+ | Getty Images We’re heading into the season for turkey dinners, Christmas trees, presents and, for recent college graduates, their first student loan bill. Students who were handed their diplomas in May or June will find the half-a-year grace period
It’s never too early to start planning for your retirement. While the task may seem daunting, it’s important to make sure you have enough set aside for your golden years. It’s something that many Americans are struggling with. According to the Federal Reserve, 26% of nonretirees say they have nothing saved for retirement. Here are