A trust can be a useful estate planning tool, in addition to a will. You can use a trust to remove assets from probate, potentially minimize estate and gift taxes and ensure that assets are managed on behalf of beneficiaries … Continue reading →
The post Simple Trusts vs. Complex Trusts appeared first on SmartAsset Blog.
In a previous post, I shared some of the basics of 403(b) Tax Sheltered Annuities. As a recap, a 403(b) is a type of retirement account thatâs only offered to employees in certain not-for-profit and government jobs. For these employees, their 403(b) is the equivalent of their 401(k). While employee limits are the same for […]
The post 403b Maximum Allowable Contributions appeared first on Good Financial Cents®.
Here are the ways Biden’s plans may add to — or take away from — your savings.
Letâs face it, medical expenses can have a major impact on your budget, especially as you get older. If youâve heard about a Health Savings Account or maybe your work offers one, then it just may make sense to give it some serious consideration â and, in my opinion, it typically makes a lot of […]
The post What Is A Health Savings Account? appeared first on Good Financial Cents®.
Estate planning can help you pass on assets to your heirs while potentially minimizing taxes. When gifting assets, itâs important to consider when and how the generation-skipping tax transfer (GSTT) may apply. Also called the generation-skipping tax, this federal tax … Continue reading →
The post What Is the Generation-Skipping Transfer Tax? appeared first on SmartAsset Blog.
Teachers and nonprofit workers can contribute the same amount to a 403(b) retirement plan in 2021 as they could last year.
If only we had access to a reliable crystal ball, how simple saving for retirement could be. Instead, the process can feel more like a Magic 8 Ball® inquiry, finding fresh and fleeting new answers to the familiar question âHow long will my savings last?â Telling you to concentrate and ask again, that it is […]
The post How Long Will My Savings Last? appeared first on SoFi.
With all the concern these days about the Roth IRA, traditional IRAs may be in danger of getting lost. But for many of the same reasons that a Roth IRA is so important, traditional IRAs continue to be valuable. I admit it â Iâm a big fan of the Roth IRA. I think everyone should […]
The post Traditional IRA Rules and Limits appeared first on Good Financial Cents®.