Top Tax Breaks and Deductions for Seniors
An advantage of turning 65 is qualifying for certain income tax exemptions and credits. Here are a few of the top 2020 tax breaks for seniors. Tax season 2021 (for […]
Category: Finance
Finance
Our finance section covers topics from retirement advice to senior discounts to reviewing new financial products. So whether you are looking to better understand how reverse mortgages work or what are robo advisors or looking for a part time income, we have you covered.
How to Protect Your Retirement Finances After a Divorce
One in four divorces are to couples over 50. Since retirement accounts are often a large chunk of an individual’s assets at that age, it is important to protect your […]
Why Invest in a Life Insurance Retirement Plan?
Consider a life insurance retirement plan if you have maxed out traditional retirement accounts. Known as permanent life, these plans offer the security of life insurance and the advantage of […]
Consolidating 401K’s, IRA’s and Other Retirement Accounts
Are you thinking of consolidating multiple 401K’s, IRA’s and other retirement accounts? Here are the pros and cons along with a guide to consolidation. If you have switched jobs, you […]
The Difference Between Qualified Versus Non-Qualified Retirement Plans
Determining the difference between qualified and non-qualified retirement plans can be confusing. Here is a guide to assist in retirement planning. In 1980, over 38% of Americans had access to […]
Best Financial Benefits of Downsizing in Retirement
If you are retiring soon, becoming empty nesters, looking to move to a more tax-friendly state or are overwhelmed with home maintenance, downsizing to a smaller home is enticing. However, […]
Can I Deduct Taxes from My Retirement Account?
Retirement account contributions are tax-deductible under certain conditions. You can also withdraw retirement accounts funds tax-free under certain conditions. There are certain retirement account strategies that you can take to […]
How to Keep Your HSA in Retirement
Health Savings Accounts (HSA’s), help those with high deductible medical plans save for out-of-pocket medical expenses. Used by working adults under 65, there are ways to keep your HSA in […]
Recession Proof Your Finances
Economists are predicting a recession by 2021- are you ready? Here are tips for ‘recession proofing’ your job, investments and personal finances. “A National Association for Business Economy Survey found […]
Best places to retire, abroad
If you want to reduce expenses and maximize retirement income, consider retiring abroad. The following countries offer a lower cost of living, reduced health care expenses and more agreeable weather. […]