Articles
Your estate plan may be your last words to those you leave behind. If you're a parent, you should think carefully about the message you'll be sending.
Parents who leave their children unequal inheritances risk fueling family feuds. But strictly equal bequests also can cause resentment if the heirs don't see the distribution as fair.
Volatile markets make most investors nervous, and a big downturn can be especially disturbing to those who are approaching retirement or newly retired. Watching the value of your portfolio decline when you may need your assets in the near term is unsettling. But it's important to stay calm and maintain perspective.
New Hampshire Union Leader
31 May 2020
Copyright, 2020, Union Leader Corp. Distributed by NewsBank, Inc.
HEALTH CARE costs in retirement are a major expense. The Employee Benefit Research Institute estimated that in 2019 a 65-year-old couple would need about $300,000 in savings to pay medical costs throughout their retirement.
The Setting Every Community Up for Retirement Enhancement (SECURE) Act, which was passed in December 2019 as part of a larger federal spending package, included changes that warrant special attention from owners of high-value IRAs. Specifically, many nonspouse beneficiaries who inherit IRA assets can no longer "stretch" distributions over their lifetimes.
As a result, IRA owners may want to revisit their estate planning strategies to help prevent their heirs from getting hit with higher-than-expected tax bills.
In a downturn, your employer may look to tighten the purse strings. But that doesn’t necessarily mean you have to.
By Megan Ryan
Companies hit especially hard by the COVID-19 pandemic are taking drastic measures to stay afloat, including cost savings that can have a direct impact on employees.
One such measure: suspending the employer match on employee 401(k) retirement accounts.