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From Gold to Fiat Currency to Your Retirement
For centuries, the concept of money was inextricably linked to something tangible. Whether it was silver coins in ancient Rome or the British pound sterling, the value of currency was anchored to the physical world. Perhaps the most famous of these anchors was the “gold standard,” which defined the world’s economy for generations. But today we live in an era [...]
Trump Accounts: Building Wealth for the Next Generation
As a parent, you might be looking for ways to provide for your children’s long-term financial goals. You may have heard of 529 accounts to help save for higher education or brokerage accounts (including UTMA & UGMA custodial accounts), but there’s a new option available starting this year: Section 530A accounts, also known as Trump Accounts. Established under the [...]
How Home Sales Are Taxed: What Every Homeowner Should Know
Selling a home is a significant financial event, and understanding the tax implications can help homeowners protect their profit and avoid unexpected liabilities. When you sell your residence, the gain you realize may be subject to capital gains tax, but in many cases, favorable tax rules can help reduce that tax burden. Let’s take a look at how the tax [...]
Income Tax vs. Capital Gains Tax: What’s the Difference?
Understanding the difference between income tax and capital gains tax is a key part of smart financial planning. While both are ways the government collects revenue, they apply to very different types of money you receive. Here are the questions you most likely have, and the answers that can help you understand the basics of these two tax categories. Q: [...]
How Do I Know If I Need an Estate Plan?
If you’ve ever thought that estate planning is only for the ultra-rich or that you can wait until later in life, you’re not alone. But estate planning is important to consider at any age and is a fundamental part of a comprehensive financial plan. And it’s not just about what happens to your stuff when you’re gone! How can estate [...]
How Can I Recession-Proof My Retirement?
When people think about retirement, they often imagine years of relaxation and freedom. But for many retirees and pre-retirees, that vision comes with an underlying concern: what happens if the market takes a downturn? Recessions are an unavoidable part of the economic cycle, and while you can’t control when or how severe they are, you can take steps to prepare. [...]
What Is a Required Minimum Distribution (RMD)?
If you’ve spent decades building up your retirement savings in tax-deferred accounts, you may have heard the term Required Minimum Distribution (RMD). But what exactly does it mean for you, and why is it so important to plan for it? Let’s break it down. What is an RMD? An RMD is the minimum amount you must withdraw each year from [...]
Why the Federal Reserve Works, And What It Means for Your Retirement
The Federal Reserve may seem distant or complicated, but its decisions ripple through everything from interest rates to inflation, and that may affect your retirement directly. Let’s explore why the Fed works, why its independence matters, and what that means for your financial stability in retirement. What exactly is the Federal Reserve supposed to do? The Federal Reserve has two [...]
