Latest articles by Mike Piershale, ChFC
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Inherited Retirement Plan? How to Easily Understand Payout Rules
Figuring out first which kind of beneficiary you are will make it easier to grasp the rules and timing on required distributions.
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Ways to Avoid the Penalty on Early Retirement Withdrawals
Sometimes you just can’t avoid dipping into a retirement fund, but you might be able to qualify for an exception to the 10% tax penalty.
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Social Security for Stay-at-Home Moms (and Dads): How to Qualify for Benefits
social security Just because you don't bring home a paycheck doesn't mean you're not working. A stay-at-home parent can get a Social Security check just like any other worker. Here's how.
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How to Protect Your 401(k) From a Market Crash or Recession
401(k)s You can’t control what happens in the stock market, but you can control what YOU do when there’s a downturn. To safeguard your savings, follow these investing golden rules.
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Safe Harbor 401(k)s Can Help Small-Business Owners Keep Happy Employees
Immediate vesting and contributions by the employer regardless of the employee’s participation pump up workers. Employers get lower costs and tax benefits.
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Recession or Not? We Could Be in the Eye of the Storm
investing Our economy is showing one major sign we’re in a recession, but there are at least seven other red flags currently waving. It’s tough to ignore a threat like that.
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The Best Way for Kids to Save Isn’t in a Boring Bank Account
Roth IRAs What’s better? A Roth IRA! Here’s why.
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If January Predicts the Rest of the Year, Investors Could Be Hurting
Markets It’s known as the January Barometer, but how accurate is it? Let’s dissect this interesting stock market statistical phenomenon by checking the numbers for the last 72 years.
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A Simple RMD Mistake That Can Cost Retirees Thousands
required minimum distributions (RMDs) Do you know exactly what your required minimum distribution should be? Did you take more than you had to last year? If you need extra cash, there could be a better place to get it.
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You Could Accidentally Disinherit Your Children Unless You Follow This Obscure Rule
estate planning True story: A father with three kids put them down as the beneficiaries of his nearly $250,000 401(k) account – but when he died, they got nothing. It’s all because of ERISA. Never heard of it? Neither had he.
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How You Might Save on Taxes Just by Shifting Your Investments Around
tax planning A quick look at your tax return can reveal some easy ways to reduce your taxes this year. One is to reallocate your investment income to make it more tax-efficient. And it’s not as complicated as it sounds.
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ETFs vs. Mutual Funds: Why Investors Who Hate Fees Should Love ETFs
ETFs Exchange-traded funds offer a huge cost savings to consumers over mutual funds. Here’s why, and a couple of quirks about ETFs to watch out for as well.
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How to Possibly Pay 0% in Taxes on Your Taxable Investment Gains
tax planning Don’t miss out: Certain people with low enough taxable income can sell stocks or mutual funds to convert their taxable gains into tax-free money. Here’s how.
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Joint Trusts or Separate Trusts: Advice for Married Couples
estate planning Unless you have a specific need for separate trusts, it’s usually best to avoid the headaches they cause and go with a joint trust instead. Here’s why.
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How To Buy a Roth IRA When You Make Too Much To Qualify For One
Roth IRAs With their tax-free growth and tax-free withdrawals, Roth IRAs are a great deal — if you qualify. If you don’t, well, there’s still a way to get into the game in a big way.
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Your 401(k)s and IRAs Have a Dark Side
401(k)s Yes, they are a tax-advantaged way to save for retirement, but they come with some disadvantages you should know about.
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Roth IRA Conversions are on Sale
retirement Many retirement savers can get an extra-good deal on Roth conversions right now. Here's why.
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Financially, Marriage Makes a Lot of Sense for Retirees
Making Your Money Last There are some major financial benefits to tying the knot. From IRAs to Social Security and tax exemptions, there are many reasons (besides the obvious one: love) for older couples to say I do.
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Want to Beat Boring CDs? Munis Can Be a Conservative Way to Increase Yield
retirement Municipal bonds come with some risks that bank CDs don't, but there are ways to minimize them while still getting a better return. Plus, the interest you earn is tax free, and who doesn't love that?
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New Pass-Through Tax Deduction Could Be a Bust for Business Owners
taxes When all is said and done, the QBI deduction could actually end up forcing people who save for retirement in a SIMPLE IRA, SEP IRA or 401(k) to pay more in taxes, not less.
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How to Recover from a Pre-Retirement Financial Crisis
Making Your Money Last If you're close to retirement, the pressure is on because you don't have much time to bounce back from something like a job loss or divorce.
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Beware of Kiddie Taxes When You Leave Heirs Your IRA
retirement Children and grandchildren inheriting traditional IRAs could quickly find themselves in the top 37% tax bracket thanks to changes ushered in by the Tax Cuts and Jobs Act.
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Tracking Down IRA Basis: A Gold Mine for Beneficiaries
IRAs No one likes to pay taxes unnecessarily, but that's what a lot of people who inherit IRAs end up doing. Failing to track down the IRA basis associated with an inheritance can be a costly mistake.
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What to Do with All Those Old 401(k)s and IRAs
retirement It's about as fun as herding cats, but rounding up all your IRAs and 401(k)s into just one or two accounts can really simplify your financial life.
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