Category: Advisors

There’s a huge tax bill if you hit Powerball or Mega Millions jackpot

With no one hitting all the numbers in Saturday night’s Powerball drawing, the jackpot has surged again. Now at an estimated $381 million, the top prize has been...

Here’s your tax bill if you hit Mega Millions or Powerball jackpot

However, with the top federal tax rate of 37 percent applied to income above about $510,000 for single tax filers ($612,000 for married couples filing jointly) you could...

Here’s what to do if you can’t pay that surprise tax bill by April 15

Also, interest generally accrues on the amount owed, which is separate from the penalty. That interest rate, which can change quarterly, is currently 6 percent. Of...

Many people could claim a larger Social Security check by doing this

Many people who wind up with a smaller Social Security check because they claim their benefit early could have waited longer to file, thanks to funds in their IRA....

Many Americans dream of retirement but lack a game plan

That’s not the only discrepancy. When asked about finances, survey respondents reported, on average, $610,000 as the ideal amount to have saved by retirement age....

These two accounts will ramp up your tax-free income in retirement

In 2019, the IRS will permit savers to put away up to $6,000 in a Roth IRA, plus $1,000 if you’re 50 or older. The exact amount of money you can save in this...

Why retirement investors should fear the big yield curve inversion 

A normal curve with the two-year offering a lower yield than the 10-year is fundamental to how banks make money. Banks borrow short term at lower interest rates so that...

How to play rising bond rates without losing your shirt in principal 

If rates keep rising, that tension will only grow. The prevailing market wisdom — at least before the recent volatility in stocks and increasing concerns about a...

This falling market offers a way to cut your taxes in retirement

Recent market declines don’t have to be all bad news for investors: They may provide you an opportunity to cut your taxes in retirement. The Dow Jones Industrial...

These retirees cannot count on Social Security payments

Roughly 11 percent of those “never beneficiaries” are employees who worked in jobs that receive a public pension and don’t pay into Social Security....