Year: 2023

When it comes to substantial gifts and wealth transfer within the family, there are strategies that can be used to minimize taxes, and maximize the financial security those gifts create for family members and loved ones. Utilize the annual gift exclusion by giving stock On the federal level, before taxes are imposed on gifts there…

Chuck Feeney died last month. He was perhaps the most prolific philanthropist that no one ever heard of. That’s the way he wanted it. Chuck Feeney wasn’t born into wealth, or into the best of times for the country’s economy. He was born in one of the greatest places in the country, Elizabeth, New Jersey,…

Is a lump sum distribution right for me? Most people think of lottery payments when speaking of the choice of a lump sum vs. an annuity. For some people with pension plans, that decision isn’t just in dreamland though. Both personal and financial factors should be considered when facing that decision. Which will provide more…

Interest on student loans has started accruing again, with the first repayment due next month in most cases.  Given the long hiatus, it’s possible that the service providers handling many of these loans have changed. By some estimates, over 17 million of the student loans—about 1/3 of the loans—are now being handled by someone else.…

Save. Save more. Save even more. Eventually, those words will change. It’s time to retire, and start spending instead of saving, but some retirees still feel uncomfortable with the transition from accumulation to distribution of financial resources. Some are not confident that they’ve saved enough. In fact, in some studies failing to save enough is…

Children love dogs, going so far as bringing home a stray and asking to keep it. There are the pros and cons to consider.  For example, can the child take responsibility for the pet, and can the household afford another mouth to feed? A perhaps less familiar scene is pet adoption by adults for themselves,…

Would it surprise you to learn that a majority of American households own mutual funds? It’s true, according to the Investment Company Institute’s 2023 Fact Book. An estimated 68.6 million U.S. households, 52% of all households, were mutual fund investors in 2022. If we add exchange-traded funds, closed-end funds, and unit investment trusts to the…