There are several financial moves that investors should be making in the years before they leave work that might result in an easier time preserving savings, reducing tax bills, and overall being providers for loved ones and heirs. Financial advisers reporting for The Wall Street Journal have proposed that investors nearing retirement should consider the following four tips:
Although the end of any relationship is very emotional, if you follow these five steps, you can significantly cut down on cost, wasted time and some of the agony typically associated with the divorce process.
Prenuptial Agreements or "prenups" still have a stigma despite the potential of being very helpful to couples planning a marriage. No one gets married with the intention of getting divorced, but some people assume that if their future spouse brings up the topic, they have no intention of staying married. Believe it or not, a prenup can actually help a marriage. As part of wedding planning, couples should consider the following, which may be addressed in a prenup:
Scammers thrive on fear. Why? Fear creates confusion which results in hasty decisions that can prove disastrous. Unfortunately, senior citizens are often the most targeted victims of scams. Merciless scammers capitalize on instilling fear in their victims by warning of threat of financial or legal ruin—and they may offer quick fixes if you ‘simply send them money or personal information.’ Familiarize yourself with the following phrases commonly used by scammers:
If you are a small business owner, you’ll be sure to benefit from the recent extension of the Section 179 expense deduction.
So you’ve gone through the trouble of getting a judgment against someone who owes you money for whatever reason: because you’ve loaned money that wasn’t repaid, because a poor job was done in constructing the addition on your home or because you were caused injury and there was no insurance to cover it. Your troubles are over right? Think again.
Late life divorce (‘silver’ or ‘gray’ divorce) is becoming more common and more acceptable in society. According to the National Center for Family and Marriage Research at Bowling Green University, in 2014 people age 50 and above were twice as likely to go through a divorce than in 1990. The increase was even higher for those over 65, while at the same time divorce rates have plateaued or dropped among other age groups. Here are some reasons late life divorce is becoming more common:
If you have recently or are currently in the process of filing for bankruptcy, be on alert. There has been a phone scam circulating where individuals pose as attorneys to get their intended victims to wire money immediately to satisfy debts. These scammers lift personal information from the paperwork used in bankruptcy filings.
The phone call from a debt collector never comes at a good time—but the best response is to confront the state of these affairs head-on. You may want to hide or ignore the situation and hope it goes away–but that can make things worse. Depending on your personal situation, there may be different steps to take.
On December 19, 2014, the Achieving a Better Life Experience (ABLE) Act of 2013 was passed. The ABLE Act amends Section 529 of the Internal Revenue Service Code to create tax-free savings accounts for individuals with disabilities in order to cover qualified disability expenses such as education, housing and transportation. New York State also recognizes ABLE Act 529A Accounts.