Articles in the Business Category
Not long ago, wives were “silent partners” when it came to estate planning. Husbands were the ones in charge of long-term planning and major financial decisions. In fact, estate planning attorneys often advised wealthy men to leave their assets in trust for their wives, so that a trustee other than their wife could manage and preserve the family fortune. It was assumed that a widow would not have the skill or the experience necessary to responsibly manage the money she inherited from her husband.
The retirement landscape today is undoubtedly more challenging than ever: guaranteed corporate pensions now belong to the dinosaur years, and the stock market has been nothing short of chaotic. Meanwhile, we’re living much longer, creating the perfect storm for many of us to run out of savings midstream. Truly, this is the foremost threat facing retiring boomers.
More than 9 million older Americans can’t pay their bills. The costs of living — basic expenses like food, housing, health care and transportation – are too much for millions of people aged 65 and older to bear. They live on a very fixed income and are finding the Golden years are not so golden. In addition to the increasing financial burdens on American Seniors, they have become one of the most forgotten and neglected members of our society.
As we enter the New Year some of us turn our thoughts to a new diet, a new exercise program, or, perhaps a new car.
If you are thinking about a new diet or exercise program you are on your own, but, if you are thinking about buying a new car, or a car “new to you,” then I can offer some advice.
How does the fiscal cliff affect real estate?
The senate did pass some provisions that were important to homebuyers, sellers, builders and real estate professional like myself. For the distressed homeowner in circumstances such as foreclosure, deed in lieu, and short sales, the Mortgage Forgiveness Debt Relief has been extended through 2013.
Many financial advisors claim that by funding qualified plans like 401(k)s and 403(b)s, retirement investors stand to save on their future tax bills because you’re likely to need much less income in retirement compared to your working years. But that simply amounts to wishful thinking and a very flawed understanding of how the U. S. Tax Code actually works as it relates to these plans.