Wealth Insights is our regular financial planning update, generally refreshed on Thursdays. Wealth Insights provides perspective on financial planning topics to help as you consider options for navigating your financial life.
As a woman, you have financial needs that are unique to your situation in life. Perhaps you would like to buy your first home. Maybe you need to start saving for your child’s college education. Or you might be concerned about planning for retirement.
Ever since a legal secretary named Ida May Fuller received the first retirement benefit check in 1940, women have been counting on Social Security to provide much-needed retirement income. Social Security provides other important benefits too, including disability and survivor benefits that can help you and your family members.
Conventional wisdom says that what goes up must come down. But even if you view market volatility as a normal occurrence, it can be tough to handle when your money is at stake.
Keeping your cool can be hard to do when the market goes on one of its periodic roller-coaster rides.
About 70% of U.S. private-sector workers have the option to contribute to a retirement plan such as a 401(k), 403(b) or 457(b) plan provided by an employer. Unfortunately, many of them don’t take full advantage of this tax-friendly opportunity to save for the future.1
There are two fundamental ways that you can profit from owning bonds: from the interest that bonds pay and from any increase in the bond’s price.
The loss of a spouse can be a devastating, life-changing event. Due to longer life expectancies, women are more likely to face this situation.
A single procedure or trip to the hospital can fill your mailbox with stacks of bills. These can come from hospitals, doctors, pharmacies, emergency rooms, labs, and many others. The stress involved with handling all of this paperwork can be almost as overwhelming as the illness or injury itself. If your medical bills start to pile up faster than you can pay them, don’t wait for a crisis to occur before doing something about it.
If you donate your car to charity, you may claim a tax deduction for the donation if you itemize your deductions on your federal income tax return. To get started, you’ll need to pick a qualified charitable organization, determine the fair market value (FMV) of your car, and obtain the necessary documentation for your donation.
An important part of managing your personal finances is keeping your financial records organized. Whether it’s a utility bill to show proof of residency or a Social Security card for wage reporting purposes, there may be times when you need to locate a financial record or document – and you’ll need to locate it relatively quickly.
The SECURE Act of 2019 dramatically changed the rules governing the inheritance of IRA and retirement plan assets.
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