Taxes continue even after you retire. Choosing not to pay attention to the possibility of taxes incurred during retirement could substantially lower your standard of living in retirement. To make matters even more complex, some of the common-sense strategies that people utilize to reduce taxes can lead to paying more…
Following the recent documentary, Framing Britney Spears, as well as the increased media focus on the matter, Brittney Spears has become a common subject of conversations in 2021. It’s not Spears’ music this time that’s making headlines, though, it’s Spears’ conservatorship. In 2008, Spears’ father was appointed conservator for…
Data reveals that approximately 70% of all adults in the United States who will live to the age of 65 will require long-term care. Because many of these older adults do not require the full degree of care provided by nursing homes or have limited finances, it is important to…
Trying to care for an aged parent is a challenging and sometimes impossible-seeming task. Whether you live a few hours away from your parent or on the other side of the country, it’s common to end up whether you are providing your parents with adequate care. As a result,…
Data compiled by the Centers for Disease Control and Prevention show that more than 16 million Americans care for someone who has been impacted by dementia. Caring for a person that you love who has dementia can require specific care techniques to make sure that the loved one functions in…
In September 2020, the nursing home staff at the Soldiers’ Home in Holyoke Massachusetts were indicted on criminal charges in what the Attorney General described as the first criminal case against nursing home operators in connection to the COVID-19 pandemic. Seventy-six veterans at the hospital died as a result of…
Due to not just the approaching US election but also continued economic uncertainty and a country that is dealing with the impact of the coronavirus pandemic, family gifting is likely not at the top of your list of goals. Despite its uncertainty, the current situation creates an opportunity for individuals…
The Setting Every Community Up for Retirement Enhancement Act of 2019, Pub. L. 116–94, was signed into law by President Donald Trump on December 20, 2019, as part of the Further Consolidated Appropriations Act, 2020 (The Secure Act). Future beneficiaries of retirement accounts have different rules than current inheritors. What…
The average student loan payment, according to credit.com, is $393 a month. That represents almost 20% of the monthly household income after taxes. During your prime working years, you may be tempted to postpone saving for retirement or maxing out your 401K contribution. If you’re on a federal income-based repayment…
In 2019, the U.S. Census Bureau, determined that the average national retirement age was between 63 and 64 for men and 62 for women. Most Americans agree that in retirement they’ll need saving to supplement Social Security benefits. Social Security alone will not get them through retirement. The current life…