The Internal Revenue Service has clarified how it will tax individuals who inherited traditional IRAs in 2020 or later, though it is forgiving those who haven’t complied with its new rules in 2021 and 2022. “It is complicated,” said Art Rothschild, who advises affected individuals to see a qualified tax professional. […]
By Joel Dresang
Research attests that gratitude can help us be healthier, calmer, better rested, more accomplished — even richer. […]
By Joel Dresang
The good news about the highest inflation in 40 years is generous benefits boosts to retirees and those saving for retirement. Both Social Security and the IRS are adjusting allowances in 2023 that should help tens of millions of Americans. […]
A special Money Talk Podcast explores how investors can help themselves now with year-end transactions and paperwork by having conversations with their advisors about such concerns as capital gains and losses, charitable giving and estate planning. […]
By Joel Dresang
In 2008, I was asked to write an essay for what was to be a sort of retirement keepsake. The book was to celebrate Brett Favre, the Green Bay Packers quarterback, who had just retired after 17 seasons. But of course, then Favre unretired. […]
An IRS proposal could change how inheritors of IRAs are required to draw down those accounts. “While the proposal has certainly raised concerns about how to handle distributions, this may be one instance where investors are better served allowing the process to play out,” Kyle Tetting said. […]
By Joel Dresang
Eight months ago, when I reported that someone had tried to use my credit card without my knowledge, I said it wouldn’t be the last time. Well, on Jan. 27, it happened again. My credit card issuer texted me to say it declined a $23.65 charge with my card at Aldo shoes. “Was this you? Reply YES or NO.” I replied NO and braced myself. […]
By Joel Dresang
A number of forces are behind people’s fear of finances. Besides individual circumstances, low financial literacy is a chief contributor to anxiety and stress over money, according to the joint study by the FINRA foundation and George Washington University. In other words, when it comes to money, what you don’t know can hurt you. […]
By Joel Dresang
Timing retirement involves so much more than when to take Social Security. Still, those benefits play a bigger role than most people realize. […]
In a Money Talk Podcast, Bob Landaas leads a discussion about wise ways to be charitable. […]
Investors need to designate very clearly who they want to inherit assets they leave behind in investment accounts. Mike Hoelzl offers tips in a MONEY TALK VIDEO with Kyle Tetting. The video is part of the virtual 2021 Investment Outlook Seminar. […]
Retirees and other Social Security recipients will receive their biggest boosts to benefits in 40 years: A 5.9% raise from their 2021 monthly benefits. The Social Security Administration announced the increase as part of its annual cost-of-living adjustment, based on inflation measured by components of the Consumer Price Index. The higher benefits take effect in January and affects about 70 million Americans. […]