Change Counts

Do you know who is your beneficiary on your Roth IRA?  I hope so, and I hope you understand who it should be.  Some of the most important benefits of a Roth IRA over a standard IRA are the tax benefits to your heirs. If you have not named a beneficiary for your Roth IRA, then the proceeds will likely go into your estate.  This will then be paid out of your estate in accordance with the will and the laws in your state.  It will likely be settled and paid to the heirs quickly.  So that will be the end of the tax free earnings for your heirs.

Tags: retirement by Mack
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I usually write about taxes and retirement and such, but the joy of paying taxes only comes if you have a good income.  I see so many young people today who are "uncertain" why they are going to college.  Here is a list of just a few good reasons to go to college.  Some people may also just need some reassurance that college is the right thing to do.

1.  All extra education you get after high school, improves the chances that you’ll earn good pay in your life.  As it happens, most college graduates earn a significantly higher amount of money than those who don’t go to college.  If you are not certain what career to pursue, just jump in to one and keep reading and thinking about what you want to do.

Tags: Uncategorized by Mack
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There are many things to think about when planning to retire. You need money to retire, not age.  That is one thing, but there are a few that aren’t totally concerned with money.  Here is a list of 5 things you need to consider before you decide to retire, and if you should retire early.

1.  Health Status

Being diagnosed with a chronic health problem or a debilitating illness should greatly influence your decision as to when to retire. If you are in excellent health, you may decide to retire in order to travel or pursue other interests before any health problems occur.  On the other hand, if you have a chronic disease you may want to retire just to "enjoy" some of your remaining time.  It can go both ways, a very individual decision.

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