Advisors

High gas prices at stations in Garden Grove, California, on Monday, March 7, 2022. Jeff Gritchen | Medianews Group | Getty Images Inflation has continued to increase amid the Russia-Ukraine conflict and ongoing supply chain issues. But certain retirees may not feel the brunt of rising costs, financial experts say. Annual inflation rose by 7.9%

A “now hiring” sign is posted in the window of a restaurant in Los Angeles on Jan. 28, 2022. Frederic J. Brown | AFP | Getty Images The pandemic-era phenomenon known as the Great Resignation remained a hallmark of the labor market in early 2022, according to federal data issued Wednesday. Nearly 4.3 million people

Getty Images If you’re considering a Roth conversion, your timing and yearly planning can significantly reduce the tax bite, financial experts say.  The popular retirement savings strategy allows higher earners to skirt the income limits for Roth individual retirement account contributions. While the maneuver may kickstart tax-free growth, you’ll owe levies on pretax deposits. And

kali9 | E+ | Getty Images You may want to consider some financial issues before walking down the aisle again. When it comes to tackling those financial issues around remarriage, financial advisors recommend couples look at the past — for example, how each person handled finances, and their pre-marital liabilities and assets — the present

DusanManic | iStock | Getty Images When it comes to handling money, couples have a choice: combine all of their accounts, keep them entirely separate or strive for something in between. But what is normal? About 43% of couples who are married, in a civil partnership or living together have joint assets, according to a

Thomas M. Barwick | Getty Images Social Security benefits make up about 30% of elderly Americans’ incomes, according to the Social Security Administration. For some beneficiaries, it can be 90% or more. Yet many people do not think of those earned benefits, and the monthly checks that come with them, as a personal financial asset,

Pascal Broze | Getty Images One of the pain points of early retirement is limited access to your nest egg before age 59½ without incurring a 10% penalty. While a new IRS rule makes it easier to tap more penalty-free money, you still need to weigh your options, financial experts say. Generally, early pre-tax 401(k)

andresr | E+ | Getty Images A recently introduced bill in Congress has its sights set on preventing a cost that some new Medicare beneficiaries face: late-enrollment penalties. The bipartisan measure, introduced in the Senate, would require the federal government to provide individuals with information about Medicare enrollment rules before they reach the Medicare-eligible age

Getty Images If you’re one of the millions of Americans who gave to charity in 2021, you can still claim a write-off on this year’s tax return.  There’s a deduction for cash gifts up to $300 for single filers and couples filing jointly may score up to $600, according to the IRS. And it’s easier

Nosystem Images | E+ | Getty Images If the stock market’s volatility is worrying you because you’re edging closer to retirement, it may be time to re-evaluate your portfolio. One of the big risks you can face as a new retiree is a persisting market downturn just as you need to start tapping your savings.

Spanic | E+ | Getty Images There are some obvious triggers that might prompt you to update your will, such as changes in health or marital status. There are, however, also some not-so-obvious ones to be aware of, according to financial planners and attorneys. “Your will should be updated when your personal circumstances change, which

Tetra Images | Getty Images The IRS has already issued 22 million refunds, at an average $3,536 each.  That’s $700 more than last year, when the average refund was just over $2,800. For most people, a lump-sum payment of this size is rare. “The tax refund is often the biggest windfall households receive all year,” said