Category: Education

125 posts categorized as "Education"

How Well Do You Understand Retirement Plan Rules?

April 27, 2021

Qualified retirement plans, such as IRAs and 401(k)s, have many rules, and some of them can be quite complicated. Take the following quiz to see how well you understand some of the finer points. You can make an unlimited number of retirement plan rollovers per year. A. True B. False C. It depends If you…

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Growing Interest in Socially Responsible Investing

April 27, 2021

U.S. assets invested in socially responsible strategies topped $17.1 trillion at the start of 2020, up 42% from two years earlier. Sustainable, responsible, and impact (SRI) investments now account for nearly one-third of all professionally managed U.S. assets.1 This upward trend suggests that many people want their investment dollars to pursue a financial return and make…

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Home-Sweet-Home Equity

April 27, 2021

Buying a home is a long-term commitment, so it’s not surprising that older Americans are much more likely than younger people to own their homes “free and clear” (see chart). If you have paid off your mortgage or anticipate doing so by the time you retire, congratulations! Owning your home outright can help provide financial flexibility and…

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Is Your Home Office Also a Tax Shelter?

March 25, 2021
Business team in video conference

The pandemic ushered in the age of video meetings, providing a glimpse into many kinds of home workspaces. For many workers, a dedicated home office became more important than ever in 2020, though not everyone will get a tax break for having one. A Perk for Business Owners Only self-employed workers, independent contractors, and partners…

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Real Estate for Income and Diversification

March 25, 2021
REIT as Real Estate Investment Trust.

An estimated 145 million Americans own real estate investment trusts (REITs) in their retirement accounts and other investment funds.1 The primary appeal of REITs is the potential for a consistent income stream and greater portfolio diversification. Of course, like all investments, REITs also have risks and downsides. Pooled Property Investments An equity REIT — the…

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Should You Convert Your Term Life to Permanent Life Insurance?

March 25, 2021

Term life insurance provides life insurance coverage for a specific time period (the term). The face amount of the policy is paid if you die during the term of the policy. When you live longer than the term of coverage, nothing is paid, as there is no cash surrender value. Permanent life insurance provides protection…

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Due Date Approaches for 2020 Federal Income Tax Returns

February 25, 2021
The USA tax due date marked on the calendar.

Tax filing season is here again. If you haven’t done so already, you’ll want to start pulling things together—that includes getting your hands on a copy of your 2019 tax return and gathering W-2s, 1099s, and deduction records. You’ll need these records whether you’re preparing your own return or paying someone else to prepare your…

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Tax Filing Information for Coronavirus Distributions

February 25, 2021
US Treasury Check. Used for tax refunds and also the Covid-19/coronia virus stimulus payments in 2020

In March 2020, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The legislation included a provision that allowed qualified retirement plan participants and IRA account holders to take penalty-free early distributions totaling no more than $100,000 between January 1 and December 31, 2020. If you took advantage of this measure, here’s what…

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A Financial Wellness Plan Can Help Pave the Road to Retirement

February 25, 2021
Retirement word written on road in the mountains

If we’ve learned any lesson over the past year, it’s that no matter how carefully we plan and prepare, we’ll likely encounter unexpected hurdles. While a global pandemic has certainly underscored the need to pay close attention to our physical wellness, it has also revealed the need to shore up our financial wellness. According to…

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Key Retirement and Tax Numbers for 2021

January 26, 2021
Close up of businesswomans hand with pen doing some financial calculations

Every year, the Internal Revenue Service announces cost-of-living adjustments that affect contribution limits for retirement plans and various tax deduction, exclusion, exemption, and threshold amounts. Here are a few of the key adjustments for 2021. Estate, Gift, and Generation-Skipping Transfer Tax The annual gift tax exclusion (and annual generation-skipping transfer tax exclusion) for 2021 is…

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