What to Do Financially After a Spouse Dies: A Guide for Families
Quick Answer: After a spouse dies, only a small number of financial tasks need attention right away, such as notifying Social Security, checking on pension elections, and reaching out to an attorney and financial advisor. Most other decisions, including anything involving your home or long-term investments, can wait until you’ve had time to grieve and think clearly. Some account transfers and tax matters should be handled before the end of the year, but they don’t need to happen in the first days or weeks.
4 Roth Conversion Traps and How to Avoid Them
Quick Answer: A Roth conversion moves money from a traditional (pre-tax) retirement account into a Roth account, and you pay income tax on the amount converted in the year you convert it.
How Couples Can Get on the Same Page About Money
In this episode of Making Money Manageable, we tackle a question that comes up with nearly every couple they meet: should you combine your finances, keep them separate, or land somewhere in between? There is no single right answer, but we share the questions every couple should work through together.
Can Technology Improve Your Financial Life?
Yes—technology can save you money and time through higher-interest online banks, automatic bill pay and investing, paperless statements, and stronger security like two-factor authentication. The trick is to start small, keep some local banking for cash, and protect your passwords and account access.
Where Do I Put My First Dollars When I Start Saving for Retirement?
Graduating and entering the workforce brings a lot of new responsibilities, especially when it comes to managing personal finances. A common challenge young professionals face is deciding exactly where to allocate their initial paychecks. With numerous account types and conflicting advice online, making the right choice can feel overwhelming.
Addressing the Effects of Inflation on Daily Prices and Retirement Planning
Interest rates have always been a hot topic, but as we move into 2024, understanding their impact has never been more crucial. How will changes in interest rates affect your mortgage payments, retirement plans, and the overall inflation landscape? This blog post aims to provide homeowners, retirees, and financial planners with insights, practical advice, and strategies to stay ahead in these uncertain times.
Financially Fit Retirement Series
Allen Dembski and Taunya Abaya continue their series on retirement. In the latest episode they discuss retirement and the cost of healthcare during retirement. We have a great deal of financial information online on our YouTube Channel. Please browse the various videos for a wide range of topics.
The Joys and Financial Challenges of Parenthood
Parenthood can be both wonderfully rewarding and frighteningly challenging. Children give gifts only a parent can understand — from sticky-finger hugs to heartfelt pleas to tag along on Saturday morning errands. You raise them with a clear goal that you secretly dread will actually take place — that someday they will be grown, independent, and […]