10 Questions Retirees Often Get Wrong About Taxes in Retirement
You worked hard to build your retirement nest egg. But do you know how to minimize taxes on your savings?
You worked hard to build your retirement nest egg. But do you know how to minimize taxes on your savings?
Capital-gains taxes are taxes you pay on profits from selling investments, like stocks, bonds, properties, cars, or businesses. The tax isnât applied for owning these assetsâit only hits when you profit from selling them. Itâs important for beginner investors to understand several factors can affect their capital-gains tax rate: how long they hold onto an […]
The post What Is The Current Capital Gains Tax Rate? appeared first on SoFi.
Retirement is an exciting milestone, and planning becomes even more crucial once you get within a few years of saying goodbye to your career. As we turn 60 and inch closer to retirement, there are important questions to answer.
Three of the most common personal finance questions financial advisers get all the time are not the right ones to ask. Hereâs how to take those questions and reframe them to get the answers you need to build your wealth.
Being your own boss is great. You get flexibility and the ability to pursue the things you care about. But as the boss, you also have to deal with all the administrative and financial details an employer might typically take care ofâlike choosing the right retirement plan. Though it may require a little more action […]
The post Retirement Options For the Self-Employed appeared first on SoFi.
Get a joint bank account, they say. Itâll be fine, they say. So you do it. But then you discover your significant other doesnât prioritize saving as much as you do. Your partner, on the other hand, canât fathom why you consider a new outfit to be âa needâ when you have a closet full [â¦]
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
Weâll start with the bad news: Divorce rates for people in their 50s have doubled since the 1990s. And a recent study from the Center for Retirement Research at Boston College found that divorce correlates with the likelihood of financial risk in retirement. So youâre nearing retirement and youâre getting divorced and this divorce may [â¦]
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
Saving for retirement is one of the smartest investments you can make for your future. Your employer might offer a 401(k)âand maybe matching contributions tooâbut if you havenât signed up for a 401(k) before, you might be doubting whether you can afford to take a chunk of money out of your paycheck, especially if youâre […]
The post Back to Basics: What Is a 401k? appeared first on SoFi.
An individual retirement account (IRA) can be an important part of retirement investing for some people. But before saving money in this type of plan, it makes sense to know the basics about who it’s for, how it can help, and which type of IRA is right for you. This article will cover the six […]
The post The 7 Most Common Questions About IRAs appeared first on SoFi.