- Ask an Advisor: Does a Military Pension Count Toward Income Limits for Roth Contributions?
Does a military pension count toward income levels for Roth contributions? – Gail Congratulations on earning your service pension. Whether it’s due to your own service or a spouse’s service, you’ve earned it. On one hand, military pensions don’t meet the “earned income” requirement necessary to qualify for a Roth contribution, meaning a pension alone… read more…
- IRS Doubles the Number of States Eligible to Use Free ‘Direct Filing’ in 2025
Direct File has been one of the IRS’s most popular and successful programs in recent years. In 2025, it will expand significantly and become available to twice as many states. In the coming tax year, residents of 24 states will be able to use Direct File for their taxes. While some financial advisors only manage investments, others… read more…
- 7 Popular Financial Gurus
There are several popular financial gurus today that offer valuable wealth-building, investing and money management insights. When you want to grow your financial knowledge, each provides a unique perspective on how you can build strong financial practices for yourself. Whether you want to learn how to invest in the stock market or build for your… read more…
- Pros and Cons of a Home Equity Line of Credit (HELOC)
A home equity line of credit, or HELOC, is a popular financing option for homeowners looking to leverage the equity they have in their homes. Unlike a traditional loan, a HELOC provides a revolving line of credit that allows you to borrow against your home’s value as needed, offering flexibility for various expenses such as… read more…
- Step-by-Step Overview of How to Choose a Health Insurance Plan
With so many options available, choosing the right health insurance plan can feel overwhelming. To make the best choice, it is critical you understand your options, compare different plan types and evaluate out-of-pocket costs. Whether exploring employer-sponsored plans, purchasing through the Health Insurance Marketplace or considering private options, a methodical approach can help you find… read more…
- How a Solo 401(k) Plan Works for a Controlled Group
A solo 401(k) plan is a retirement savings option for self-employed individuals or small business owners with no employees, aside from a spouse. When an individual owns multiple businesses or has a controlling interest in more than one company, these businesses may be considered a controlled group under IRS rules. That can affect eligibility for… read more…
- Facultative vs. Treaty Reinsurance: What’s the Difference?
Facultative reinsurance and treaty reinsurance represent two distinct approaches within the reinsurance framework. Facultative reinsurance is a more tailored solution, where individual risks are assessed and negotiated on a case-by-case basis. This allows for flexibility and specificity, making it ideal for unique or high-value risks. On the other hand, treaty reinsurance involves a broader agreement… read more…
- What Is Treaty Reinsurance?
Reinsurance is one of the key strategies employed by insurers to manage risk. It serves as an agreement between an insurer and a reinsurer, where the reinsurer agrees to cover a specified portion of the insurer’s risk portfolio. This arrangement is typically comprehensive, covering a wide range of policies rather than individual risks. Doing so… read more…
- Ask an Advisor: I Withdrew $60k from My Retirement Plan This Year Which Increased My Medicare Premiums. Is It Permanent?
I’m 71 years old and my current Thrift Savings Plan (TSP) balance is $315,000 after withdrawing $60,000 this year. This is putting me in a higher tax bracket and I must pay a large amount of federal/state taxes. In addition, my monthly Medicare premium will increase. Will the Medicare premium increase permanently or only the… read more…
- 7 Tips for Finding a Financial Advisor
Finding a financial advisor involves more than just looking for someone with the right credentials. It requires identifying a professional who aligns with your financial goals, communication style and long-term needs. Key tips for finding a financial advisor include reviewing their qualifications, understanding fee structures and assessing how well the advisor’s approach matches your needs… read more…
- What Is Disinvestment and How Can It Impact Your Portfolio?
Disinvestment refers to the process of reducing or eliminating investments in a company, asset or industry, often for financial, ethical or environmental reasons. It can occur when businesses sell off assets, withdraw capital or cease further investments in specific areas. For investors, disinvestment might impact a portfolio by shifting the focus away from certain sectors or… read more…
- Negative Gearing: What Is It and How Does It Work?
Negative gearing is a financial strategy commonly used by rental property investors. It occurs when the rental income generated from an investment property is less than the costs associated with owning and maintaining it, including mortgage interest and maintenance expenses. In this scenario, the investor incurs a loss, which can potentially be offset against other… read more…
- How Tenancy-at-Will Works in Georgia
In Georgia, a tenancy-at-will arrangement allows tenants to occupy a property without a formal lease agreement. This type of agreement, which can be verbal or written, provides flexibility, but it comes with certain risks. For example, either party can end the arrangement with proper notice. Tenancy-at-will is commonly used for month-to-month rental agreements, which can… read more…
- How Tenancy at Will Works in California
Tenancy at will is a rental arrangement that can be particularly appealing in California’s dynamic housing market, where circumstances can change rapidly. Unlike traditional leases, a tenancy-at-will agreement allows either party to terminate the rental relationship at any time, provided they give proper notice. Tenancy at will can enable tenants to move readily for jobs… read more…
- Ask an Advisor: Does the 5-Year Apply to My Beneficiary If I Do a Series of Roth Conversions Before I Turn 73?
I want to do three Roth conversions in the next three years before I turn 73 in 2027 so that my beneficiary doesn’t have to deal with taxes. If I should die soon after the last conversion, will my beneficiary be subject to the five-year rules? – Tom This is a good question. The five-year… read more…
- Should You Invest Your Emergency Fund in I Bonds?
Most people keep their emergency funds in traditional savings accounts because of the safety and easy access they offer. However, some turn to I Bonds, which provide inflation protection and a guaranteed return, unlike regular savings accounts. While I Bonds are safe, they offer less access to your money when compared with a bank account,… read more…
- What Are Outstanding Shares?
Outstanding shares refer to the total number of a company’s shares that are currently owned by shareholders, including those held by institutional investors and company insiders. These shares are a key factor in determining a company’s market capitalization, as they represent the shares available for public trading. Unlike authorized shares, which represent the maximum number… read more…
- Ask an Advisor: When My Spouse Dies, Do I Get a Full Step-Up in Basis on My Home or Only the $250k Capital Gains Exemption?
What if a husband and wife own a home together that increases in value by $500,000. When one spouse dies and the other owns the property themselves, do they receive a step-up in basis? Or do they only receive a $250,000 capital gains exemption when they sell the property? – Samuel Your question deals with… read more…
- 6 Emergency Fund Investment Strategies to Consider
An emergency fund serves as a financial safety net, providing liquidity when unexpected expenses arise, such as medical emergencies, car repairs or job loss. While most people keep their emergency funds in a traditional savings account, you may also consider investing your emergency funds. Done well, this can boost returns while maintaining access to your… read more…
- Investing in an IRA CD vs. Money Market Account
Picking between an IRA CD and a money market account depends on your financial goals, your need for liquidity and risk tolerance. Both options can provide market interest earnings and offer advantages over traditional savings accounts. IRA CDs are suited for long-term growth with tax benefits, while money market accounts offer more flexibility, liquidity and… read more…
- How Liquid Are Money Market Accounts?
Money market accounts (MMAs) have long been a popular choice for those seeking a balance between earning interest and maintaining easy access to their funds. But are money market accounts liquid? These accounts are designed to offer a higher yield than traditional savings accounts while still providing the flexibility to access your money when needed.… read more…
- How to Qualify to Open a Health Savings Account (HSA)
In today’s fast-paced world, managing healthcare expenses efficiently is more important than ever. One effective way to do this is by opening a Health Savings Account (HSA), a tax-advantaged account designed to help individuals save for medical expenses. However, before you can take advantage of the benefits an HSA offers, it is crucial to understand… read more…
- How Much Does Probate Cost in North Carolina?
When a loved one dies, probate may be required. This is the legal process that distributes a person’s assets after they die, according to their will or state law. It begs the question: how much does probate cost in North Carolina? Probate fees can vary based on the complexity of the estate and the assets… read more…
- 7 Landlord Requirements When Renting Out a Property
Renting out a property can be a smart way to diversify your income, but there’s a lot to consider before doing so. Being a landlord comes with several legal and ethical obligations you have to meet to make sure you’re complying with local, state and federal laws. Being aware of and adhering to these requirements… read more…
- Pros and Cons of Requiring Renters Insurance as a Landlord
As a landlord, requiring tenants to have renters insurance can provide additional protection and peace of mind, but it may also introduce potential challenges. Renters insurance covers tenants’ personal belongings and liability, which could prevent disputes between landlords and tenants if accidents or damage occur. However, some landlords may worry about the added burden on… read more…