Tag: Roth IRA

Merging two families and finances inevitably brings challenges. A common concern among blended families is how to divide assets so that all children are included fairly after the death of one or both spouses. How do you maintain fairness, be impartial and get along with your spouse all at the same time?

One option is to set up a revocable living trust. A revocable living trust ensures that the trust becomes irrevocable at the death of the first spouse. Meaning, in the case of an unexpected death, whatever is written in the trust before death stays that way after death, protecting the heirs.

According to the Washington Post, economic growth was slow in the United States during the first quarter of 2017, moving along at only 0.7 percent.

The number is a big drop off from the 2.1 percent growth experienced by the nation in the final quarter of 2016 and a long way from President Donald Trump’s promise of 3 percent economic growth during his time in office.

Retirement can open up a whole new way of life for Americans ready to bring their working years to an end, but at least one thing doesn’t change. Uncle Sam continues to direct his gave toward you.

The IRS still keeps a watchful eye on your income, including whatever amount you’re pulling from the IRA or 401(k) that you spent decades building into a nice, hefty nest egg.

If your kids' college savings are not walled off in some kind of separate account, how do you keep yourself from raiding the kitty?

Stephanie Sadural Heincker is one mom who does not trust herself: she has an automatic deduction from each paycheck go into 529 college savings plans for her two- and four-year-old.

Heincker's own parents dipped into the money they had set aside in a savings account for her, so she ended up saddled with a lot of student debt.

Your years of encouragement and supervision have paid off, and your teenager will be heading off to college this fall. But if you’re like most parents, your pride and relief are mingled with new worries. You want your child to thrive (or at least survive) academically. You hope you’ve made a lasting impression when it comes to teaching time management skills and making "responsible life choices." But is it possible that you overlooked one of the most important lessons of all: how to manage money?