Social Security is a source of retirement income for many individuals, but according to Mass Mutual, most Americans fail to demonstrate basic knowledge Social Security benefits. MassMutual used a quiz to test peoples’ knowledge of Social Security retirement benefits and showed that approximately 35% of people age 55 to 65 failed and almost 20% earned […]
Can You Pass this Social Security Quiz? Read More »
If you have been procrastinating on one, some or all aspects of your personal finances. Why not apply the concept of spring cleaning to your money? The following are some ideas to get started or restarted: Get Organized The first thing to do when organizing your finances is to collect all your information in one
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The Markets Zoom, zoom, zoom. Big economies tend to recover from recessions about as quickly as semi-trucks accelerate from stop lights. In other words, recovery tends to be slow. That may not be the case this time. “Everything in this economic cycle is happening at great speed. That is in part a reflection of the
Market Commentary – April 5, 2021 Read More »
Some data suggests that divorce rates in the U.S. have been falling in recent decades. Whether this is accurate or not, many people face the difficult challenges that come when their marriage ends. Getting a divorce is a painful, emotional process. Don’t be in such a hurry to reach a settlement that you make poor
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Planning for retirement can be slightly different for women. Although things are changing, women are still more likely to serve as caretakers, and as a result, they earn less income and benefits due to their time away from work. A 2019 Pew Research study showed that 39% of women took a significant amount of time
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You should pay all taxes due – but not a penny more! You can then help others with the excess – how you decide. Many taxpayers regularly overpay because they fail to take tax deductions for which they are eligible. Here are some overlooked opportunities to mitigate your tax bill. Reinvested Dividends: When your mutual fund
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Many parents encourage their children to work so they can learn the values about work and managing money. But do they need to file a tax return for the money they earn? The IRS does not exempt anyone from the requirement to file a tax return based on age, even if your child is declared
Does Your Child Have to File a Tax Return? Read More »
March 1 2021 The Markets Students of financial markets may have noted a historically unusual event last week. On Thursday, the yield on 10-year U.S. Treasury notes briefly matched the dividend yield for the Standard & Poor’s (S&P) 500 Index. This type of convergence is uncommon. In normal times, the yield on 10-year Treasuries tends
The recent short selling activity in GameStop has motivated some to become new “investors” because of the idea of making fast money through such trading. However, many are unaware of the dangers of short selling, along with the tax implications that come along with any potential quick profits. One of the dangers in short selling
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