Creating an estate plan for your heirs is necessary for your assets to escape probate. It enables you to put your assets into the hands of those you want to receive them. Failing to update your estate plan could cause significant damage and may thwart your desire to give your assets to your chosen beneficiaries….
How to Save Money on Auto Insurance
By David Rodeck From Kiplinger’s Personal Finance Shopping for new auto insurance? Here are ways to save money. Start by asking about discounts. Bundling multiple policies with one insurer can lead to savings on all your premiums. Discounts for setting up electronic payments, paying your entire premium in full, and going several years without a…
Little Change in Tax Code Expected This Year
By Joy Taylor From Kiplinger’s Personal Finance Question: Is there any chance that Congress will pass legislation this year to reduce taxes? Answer: Not much. You can ignore many of the recent proposals from federal politicians on both sides of the aisle. They’re wishful thinking—at least for now—given the divided political climate in Washington. Most…
Investing for Longevity
March 21, 2023
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By Sandra Block From Kiplinger’s Personal Finance As you approach retirement, you may be tempted to shift most of your savings to more-conservative assets. That temptation may be particularly strong in today’s volatile market. But this strategy could increase the risk that you’ll outlive your money. If you retire in your early sixties, you may…
How to Protect Your Money in a Bank Failure
March 21, 2023
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Two large banks in the United States, Silicon Valley Bank and Signature Bank, have recently failed. Most people are aware of it, and it has left many people wondering if their money is safe in a bank. Besides the bank failures, other economic conditions have added to the confusion causing people to wonder how to…
Biden’s Tweet on Taxes That Billionaires Pay Fact-Checked, Labeled ‘Incorrect’ by Twitter
A post published on President Joe Biden’s official Twitter account has been fact-checked and labeled “incorrect” after the White House claimed the average American billionaire pays just 3 percent in tax. The president’s official account posted a tweet of a photo of Biden on March 18 containing a quote from him which read: “You know the average…
Job Plus a Side Gig? Avoid These Mistakes
March 17, 2023
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At the beginning of the year, many people have their eyes set on goals. Some of these goals may include increasing your income, starting a dream business, or both if you’re reaching for the stars. Before you get your hands dirty in the sometimes chaotic combination of formal employment and entrepreneurship, here are a few…
Don’t Forfeit Your FSA Money
By Lisa Gerstner From Kiplinger’s Personal Finance Flexible spending accounts, or FSAs, allow employees of companies that offer the accounts to set aside pretax money from their paychecks for out-of-pocket health care or dependent care expenses. A little less than one-fourth of FSAs require account holders to spend all the money by the end of…
Biden’s Proposed Cap Gains Tax Would Exceed 100 Percent
March 14, 2023
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President Joe Biden’s proposed capital gains tax increase could result in an effective tax rate of over 100 percent after adjusting for inflation, according to recent calculations by Laffer Associates. The increase would more than double the tax investors pay on investments held longer than one year. The proposal, outlined as part of Biden’s $6.8…
Biden’s Proposed Cap Gains Tax Would Exceed 100 Percent: Economist
March 14, 2023
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President Joe Biden’s proposed capital gains tax increase could result in an effective tax rate of over 100 percent after adjusting for inflation, according to recent calculations by Laffer Associates. The increase would more than double the tax investors pay on investments held longer than one year. The proposal, outlined as part of Biden’s $6.8…
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