Whether you have an income plan in place or not, the so-called “number” that many Americans are striving for is increasing. In today’s uncertain economy, rising inflation and market volatility are causing many to become more conservative in their estimates.
While some folks have made huge profits investing in crypto, it’s a very volatile and high-risk asset and relying on it to help fund your retirement could be a dangerous move, especially because it isn’t as well regulated as most other investments you can purchase today. This week I’d like to dig into some of the risks you might face if you’re considering a crypto investment.
The IRS has announced that it is adjusting a number of current rules to help us better weather the impact of the current inflation, and this will mean some real tax savings for some taxpayers next year.
Now, new laws involving taxes always come with some questions, but usually the IRS clears these up promptly. But in the case of the SECURE Act, it seemed like the IRS was floundering for answers, leaving many at risk of paying penalties due to misinformation and in some cases, no information.
Folks, there’s no magical formula or strategy that will make us inflation-proof, and we all know that we can’t control the markets. But you can control to some degree what you spend and save.
A new survey from asset management firm, Schroeders, indicates that Americans nearing retirement are often struck with fear over their ability to maintain an adequate income after they retire₁.
You’re probably asking, are we or are we not in a recession? Well, believe it or not, this past summer a group of politicians, economists and market professionals actually engaged in debate of semantics over whether or not the U.S. economy was in recession.
Our youth, our future, need to understand these financial basics before they can reach the next level– starting to invest. Unfortunately, financial and investing basics are woefully under-taught in schools these days, so it’s our job as parents to be proactive in educating them on this critical life skill.
It’s been said, “A penny found is better than a penny earned – because a penny earned is taxed”. I can’t argue with that. But how about if it’s in the form of a tax refund?
While I am in no way suggesting that older couples should get divorced merely for this reason, it is important that you understand how our federal systems treat married couples financially so you can factor this into your retirement planning.