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Last Chance to Save — Important Year-End Tax Moves Posted on Dec. 1, 2016 With year-end just around the corner, there are numerous steps you can take to improve your tax situation for 2016 for both individuals and businesses. From maximizing Education Tax Credits to Roth IRA Conversions and maximizing your Health Savings Account contributions,…
New Trends in Socially Responsible Investing By Surya Kolluri, Managing Director & Head of Channel Programs and Delivery Merrill Lynch Wealth Management Posted on November 10, 2016 In past years, socially responsible investing focused mainly on negative screening. Negative screening involves using investors’ environmental, religious and personal values to determine which securities to keep out…
An Encore Education for Your Encore Career By Richard J. Polimeni, Director of Education Savings Programs for Bank of America Merrill Lynch Posted on October 10, 2016 A second career may require re-educating yourself. College campuses are getting more age diverse. According to the U.S. Census Bureau, over 1.3 million Americans aged 45 and older…
Be Aware of Rule Changes When Claiming Social Security Posted on September 10, 2016 On November 2, 2015, the Bipartisan Budget Act was signed into law. Included in the fine print were provisions that put an end to two Social Security claiming strategies that many married couples had used to maximize their retirement income. Those…
Remarriage in Retirement They say love is sweeter the second time around. It can also be a lot more complicated financially, especially for people who find one another later in life. Older couples typically come together with two sets of assets, separate homes, family commitments and, often, very different financial priorities. Melding all these together…
Planning a Retirement Drawdown Strategy? Nowadays, with people living longer, health-care costs rising, pensions disappearing and people increasingly embracing more active post-career lives, retirees need to be deliberate about making their money last. Here are some things to consider when creating a customized “drawdown” strategy. Most experts suggest finding guaranteed monthly income sources to cover…
Planning for Health Care Costs Discussing worst-case healthcare scenarios with your family is never easy. But is it fair to not have the discussion with the kids about your future healthcare needs and how you and the family are going to deal with them before the problems arise? As important as these conversations are, the…
The Latest Tricks From IRS Tax Scammers The IRS has issued several alerts recently regarding tax scams, which seem to bloom like flowers every year at this time. Typically ranging from Internet phishing scams and malware schemes to IRS impersonations, these groups have increased their sophistication as the consumer gains knowledge of their traditional scams.…
What Does Being a Stay-at-Home Parent Cost You? Most working parents can relate to the desire to be with their children at every milestone by being a stay at home parent. But the choice to stay at home can be difficult. On the one hand careers often provide satisfaction and a dual income that is…
3 Ways to Leave Your Vacation Home to Your Family Thinking about how you will pass your beach house or mountain cabin along to future generations? “You will want to consider several factors, such as how many family members might end up with shares in it, their financial situations as well as your own, how…
On The Contrary Most investors talk about getting the inside scoop, and getting in on the action early, but there’s an opposing mindset that often gets forgotten yet has proven lucrative throughout the history of the stock market. Contrarian Investing, as it’s known, is when gutsy investors bet against the climbing trends. In other words,…
Could You Retire Now? A comfortable and secure retirement is every worker’s dream, yet for many people, thinking about it can be overwhelming. Retirement is a goal to be relished, and the key is to be prepared. Answering these questions can help you figure that out. 1. How do you want to spend your retirement?…
Hiding Money Overseas Makes IRS “Dirty Dozen” Tax Scam List Annually, the IRS lists a variety of tax scams known as the “Dirty Dozen” that taxpayers may encounter. Avoiding taxes by hiding money in offshore accounts made the list again for the 2016 filing season. Over the years, tax avoidance tactics have included hiding income…