No Money Worries. No Matter What.
What is tax deferral and is it a good thing? The definition is very straightforward. Tax deferral is simply a legally acceptable way of putting off paying taxes. That’s the easy part. What makes tax deferral so darn powerful? You invest to get a return on your money – to make a profit. Sometimes the […]
You can make a few very smart moves and significantly cut the taxes on inherited IRA distributions. The best way to show you how to do this is by way of example. Let’s say that you and your two sisters are the named beneficiaries of your father’s IRA. Unfortunately, your father passes away. You now […]
You might think that in order to achieve early retirement, you have to embrace a harsh and Spartan lifestyle. I don’t accept that premise, and you don’t have to either. In fact, I believe the only way to really reach your early retirement goal is to learn to love the process. Suffering through your life […]
If you want to know when to take Social Security benefits, the answer is “as late as possible” up to age 70. This is true in almost all cases (I’ll discuss when you should not adhere to this advice.) The issue of when to take benefits isn’t a question of how to maximize your income. […]
Do you know what to do with inheritance money or any other windfall? I received a question like that from Nancy a few weeks ago. Here’s the situation. Nancy and Jim are both 31. They have two small children. They rent an apartment and have almost no debt. When Jim’s great-aunt passed away, they inherited […]
Not everyone can achieve retirement without debt. But if you really want to do it, you can. In fact, if you follow the following 5 steps, you can make sure of it. But please understand that being debt-free isn’t always the most financially savvy step to take. I say that it’s not always the best […]
