One Way Some Wealthy Investors Can Avoid Big Capital Gains Taxes
If you are a considerably successful business owner, corporate executive, or another type of wealthy individual then you might find yourself in a dilemma when it comes to your stocks. A large part of your wealth may be tied to a particular stock and although you may want to sell/reduce your holdings, the thought of large capital gains taxes convinces you not to do so.
Global Financial Literacy: The Haves and Have-Nots
A new survey by the S&P organization—the S&P Global FinLit Survey—measured financial literacy across a wide spectrum of countries around the world. More than 150,000 randomly selected individuals in 140 countries were asked to answer five multiple-choice questions regarding investment diversification, the ability of income to stay on par with spending (or vice versa), interest payments and compounding investment returns. If individuals could correctly answer three out of the five questions, they were deemed to be financially literate.
Where the Jobs Are
Your daughter or grandson wants to get hired right out of college, without a lot of job hunting. So what degree should you recommend that they pursue?
The Future is Coming Faster Than You Think
You’ve probably seen at least a few episodes of Star Trek, the science fiction TV show that went through several iterations that included Mr. Spock and Mr. Data—and, more importantly, starships that travel around the galaxy in comfortable style. The show was set 300 years in the future, and included magical technology like the transporter that caused people to vanish from the ship and reappear on the planet’s surface, and a replicator, which synthesized food and drink items without the need for a kitchen (or bartender).
Should I delay taking my first RMD?
Your first RMD from a traditional IRA and an employer retirement plan must be taken for the calendar year in which you turn 70-1/2. However, if you’re still working, you can delay RMDs from your current employer’s plan until the year you retire (but only if allowed by the plan and you are not a 5% owner).
What are required minimum distributions (RMDs)?
Traditional IRAs and employer retirement plans such as 401(k)s and 403(b)s offer several tax advantages, including the ability to defer income taxes on both contributions and earnings until they’re distributed from the plan.
Quiz: Which Birthdays Are Financial Milestones?
When it comes to your finances, some birthdays are more important than others. Take this quiz to see if you can identify the ages that might trigger financial changes
Are There Gaps in Your Insurance Coverage?
Buying insurance is about sharing or shifting risk. For example, health insurance will cover some of the cost of medical care. Homeowners insurance will assume some of the risk of loss in the event your home is damaged or destroyed. But oftentimes we think we’re covered for specific losses when, in fact, we’re not. Here are some common coverage gaps to consider when reviewing your own insurance coverage.
Changes to Social Security Claiming Strategies
The Bipartisan Budget Act of 2015 included a section titled “Closure of Unintended Loopholes” that ends two Social Security claiming strategies that have become increasingly popular over the last several years. These two strategies, known as “file and suspend” and “restricted application” for a spousal benefit, have often been used to optimize Social Security income for married couples.
