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A Roth account is one way to save money for retirement. Depending on your personal financial picture, Roth savings may also help you reduce your tax bill. In this Lessons in Financial Experiences (LIFE) video, learn about Roth accounts and how they differ from other retirement savings vehicles, like employer-sponsored plans or individual retirement accounts (IRAs).
Question: My retirement savings and investments are spread between multiple financial institutions. Should I combine them, or are there benefits to keeping things separate?
Question: I run a family business that my children will inherit. How can I make sure they are financially prepared for this transition?
Mitzi and Steve Deal of Charlotte, North Carolina, like to think of their mountain house as a gift to their family—one that will keep giving for generations.
We all know people who have made less-than-rational investment decisions, like pulling out of the stock market during a downturn or continuing to fund expensive repairs for a battered but beloved car.
No matter how sophisticated their investment knowledge, investors of all kinds are prone to make suboptimal choices, second-guess long-term decisions based on short-term occurrences, and lose sleep over investment portfolios. These are natural and understandable behaviors, but they’re rooted in a faulty assumption: that all dollars have equal value.
No matter how sophisticated their investment knowledge, investors of all kinds are prone to make suboptimal choices, second-guess long-term decisions based on short-term occurrences, and lose sleep over investment portfolios. These are natural and understandable behaviors, but they’re rooted in a faulty assumption: that all dollars have equal value.
For many people, creating a financially secure retirement means years of disciplined saving and meticulous financial planning. Amid visions of leisurely days and newfound freedom, however, it’s easy to underestimate the looming reality of taxes in retirement. To make the most of your accumulated wealth, tax planning should continue long after you stop working.
In 2023, consensus expectations proved wildly incorrect. Most market watchers predicted a recession, but the economy showed resilience instead. Today, a soft landing has become the expected scenario for 2024. But last year’s lessons are still true, and a soft landing is no sure thing.
Insurance is one way to manage financial risk. Most people understand the basics of insurance through their experiences with auto, health, or home insurance. But there are other types of insurance that may help you protect your financial health, including disability, life, and long-term care. This video explains major types of insurance that you may want to consider as part of your financial plan.
