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On August 4, 1862, the U.S. collected income tax for the first time[i]. You may be ready to bid farewell to income tax obligations once you retire, but unfortunately, it’s not that simple. While the dynamics may shift, understanding how income tax works after retirement is crucial to ensure financial stability during your golden years. […]Continue reading
As the anniversary of the Social Security bill being signed into law (August 14, 1935)[i] approaches, we’re reminded of the intricate workings of the U.S. tax system. Social Security, a vital program designed to provide financial support to retired and disabled individuals, is funded through payroll taxes.[ii] Let’s explore the fundamentals of Social Security taxation, […]Continue reading
An annuity is an investment product that is designed to provide a guaranteed income stream for a predetermined period, often for the rest of one’s life. An annuity is typically purchased from an insurance company, and the purchaser makes regular payments or a lump sum payment to the insurer in exchange for the right to […]Continue reading
June is Annuity Awareness Month, a time to educate individuals on the benefits and importance of annuities. If you’re new to annuities or need a refresher, keep reading to understand the basics of annuities. Basically, an annuity is a financial product that can provide a steady stream of income during retirement. With people living longer […]Continue reading
Social Security is not something you should just set and forget. There are many factors that determine the level of benefits you receive. Here’s a checklist of 5 Social Security strategies you should consider when planning for your retirement to maximize your income and earning potential to replace your paycheck: Delay claiming your benefits. You […]Continue reading
The thought of retirement can feel like a dream. Financial stability and the ability to do what you want and not what you have to with your days is a life goal for many people. But how do you reach that retirement life? Ask these 10 questions to prepare yourself for a successful retirement. Figure […]Continue reading
529 Day is a holiday celebrated at the end of May, usually on May 29. It is a day dedicated to promoting and raising awareness for 529 college savings plans, a tax-advantaged way to save for college expenses, K-19 schooling expenses, and apprenticeship programs. A 529 plan is a savings plan designed to help families […]Continue reading
Come springtime, you might be thinking about doing some spring cleaning, whether it’s cleaning out your garage, throwing out old items, or rearranging your furniture. However, it’s important not to forget to do some spring cleaning on your financial strategy as well. In the same way that it’s important to refresh your home and living […]Continue reading
As an adult, you may have had tough learning moments when it comes to financial management. It could have been when you failed to pay your rent on time or got too deep in credit card debt. To keep your children or grandchildren from making the same mistakes, you should begin teaching them financial literacy […]Continue reading
The concept of financial literacy refers to knowing the basics of financial concepts to make smart decisions. Specifically, financial literacy can help prevent costly mistakes that could derail your life plans, prepare you for emergencies, help you reach your goals, and can help provide you a comprehensive view of your financials while giving you the […]Continue reading
