If you want to help your heirs bypass probate when you die, here are 5 assets to avoid putting in a living trust
If you will, allow us to present the hypothetical case of Pete Moneywise, a married 78-year-old father of three who wants to get his financial affairs in order before he dies. Though he exists only in the confines of this article, his situation reflects what countless retirement-age people face as they draw up their wills […]
Beware this new ‘high-pressure’ Social Security scam targeting US seniors — here’s what you need to know to protect yourself
We’re always warned to keep our Social Security number secret, but what if you were told it wasn’t? The Office of the Inspector General (OIG) for the Social Security Administration is warning seniors about a new scam that uses fake U.S. Supreme Court letterhead and forged signatures from Chief Justice John Roberts and Justice Sonia […]
President Trump signs order to allow private equity in your 401(k) — and 1 firm’s already looking to score big. What that could mean for your nest egg
President Donald Trump has signed an executive order that could remake the investment options for your 401(k). The directive instructs the Secretary of Labor to make it easier for plans to include alternative investments like private equity, real estate and commodities. Brookfield Asset Management is a global leader in alternative assets — including private equity. […]
I have $10K saved for emergencies but $9K in credit card debt — should I raid my savings to clear my debt or keep chipping away monthly?
According to 2024 data from the Federal Reserve, 46% of American credit card holders carried a balance at least once during the previous 12 months. In addition, LendingTree reports the average interest rate on current credit card accounts is 21.16%. (1) With so much high-interest debt hanging over their heads, it makes sense for consumers […]
Most Canadians lack a financial safety net if illness strikes: RBC
Rising costs and household debt aren’t the only financial risks Canadians face — many remain unprepared for the sudden shocks that could derail their income or health. A new survey from RBC Insurance finds most Canadians would struggle to cope with the financial impact of a major illness — and few have a plan in […]
I was the beneficiary of my late wife’s IRA and 401(k) — but I want our kids to get the cash. Do I still have to take minimum distributions one day?
Losing a spouse is an incredibly difficult experience as it is. Untangling their finances after they die only adds to the strain — particularly when it comes to retirement accounts. Imagine Stan, a 70-year-old widower who inherited his 71-year-old wife’s Roth IRA and her 401(k) when she passed. Must Read Thanks to Jeff Bezos, you […]
My husband and I earn $200K a year and ideally we’d like to go on vacation every 2 months — but is 6 vacations a year financially irresponsible?
At the end of pandemic-era restrictions, many Americans prioritized traveling and visiting new places. Though that urge is still strong, recent economic uncertainty has likely made some recalibrate what maintaining that lifestyle is worth. Let’s say, for example, that you and your spouse live in New York and have gotten used to traveling every couple […]
I moved cross-country for work 8 months ago but my Nashville home still hasn’t sold. Do I take it off the market and rent it out — or sell at a loss?
Some people are hesitant to commit to homeownership for fear of being tethered to one place. If you’re offered a great job in a new city, taking it becomes harder if you own a home you then need to figure out what to do with. If you’re a Nashville homeowner who’s moved to Phoenix for […]
Dave Ramsey gives blunt advice to Wisconsin woman who made $1.1M trading stocks — why he tells her to change her strategy or risk losing everything
On a recent episode of The Ramsey Show, Michelle from Wisconsin told co-hosts Dave Ramsey and George Kamel about her interesting and enviable dilemma. In 2022, Michelle made a bold move by investing a large sum — $270,000, much of which she received as a life insurance payment for the death of her husband — […]
Georgia widow’s family says she’s being evicted by company that didn’t pay for her home — now she’s hospitalized over the stress. How’d this happen?
When Kimberly Gravitt — a widow from Gwinnett County — fell behind on her mortgage, she reached out to a company she believed would serve as a lifeline: Homesaver 911. However, signing up for this company’s services wound up setting off a chain of events that has left her with nothing. Gravitt is now facing […]