It is a longtime investor’s worst fear: retiring into a bear market. A downturn in stocks can be a blessing in disguise when you are still working and saving for retirement, because you are able to buy shares ‘on sale.’
If you need to withdraw funds from an individual retirement account or 401(k) account before age 59 1/2, there's usually a 10% early withdrawal penalty.
The important thing to acknowledge is that the emotions behind the reasons are not trivial, but are important and should not be dismissed or minimized.
The services provided by a skilled nursing facility are very important. They are also very expensive. The person who arrives at an elder law office with a bill from a nursing home for $19,400—$646.66 per day—is often the same person who signed an electronic version of an admissions form without knowing what would happen. This…
In many marriages, one spouse manages the finances and the other manages the day-to-day household decisions and maintenance. But what if your spouse tragically, suddenly, passes away?
It may sound like it makes sense, and it might be easier than picking a person (or two) to name, however there are some serious downsides to naming your estate as the beneficiary for your IRA.
