- Request a lump sum distribution of the funds from your ex-employer’s plan,
- Take no action and leave the funds in your ex-employer’s plan (if allowed),
- Transfer the funds to a new employer’s plan if your new employer offers a plan,
When it comes to saving money and planning for financial future, there is one certain question on anyone’s mind: How can I save money on Income taxes? What strategies help me reduce my tax bite? There is no better time of the year than now to plan for this. Presented below is one technique that could help you give some relief come tax time.
If you are charitably inclined, donate to charity often, and take a tax deduction for the amount you donated, the good news is that you have an opportunity to increase your savings! Instead of donating cash …Read More
In the recent past, I met several young families with children who are concerned about what happens to their hard-earned assets when they die. As we talked through, I realized they all have two simple goals: 1) to ensure their immediate family members receive the assets upon their death, and 2) where possible, the distribution should be seamless. Accordingly, this blog post…
Very simply stated, there are three ways your assets can be distributed upon your death:
- Per your wishes in “Last Will and Testament.”
- By using techniques that avoid probate
- State deciding the distribution rules
So, let’s discuss:
You found your “dream home” and you fell in love with the home. What now? Should you jump in and sign the contract? I say, “hold on!” Given the natural emotion attached to buying one’s dream home, it is not uncommon to make a hasty decision without considering all the financial consequences. Accordingly, the motivation of this blog is to encourage you to step back, analyze carefully, and make your decision wisely. So, read on! What stands between you and your dream home?
Can I really afford it?
You must have definitely thought about this before starting to look for …Read More