A will is a device that lets you tell the world whom you want to get your assets. Die without one, and the state decides who gets what, without regard to your wishes or your heirs' needs. So-called intestacy laws vary considerably from state to state. In general, though, if you die and leave a spouse and kids, your assets will be split between your surviving mate and children. If you're single with no children, then the state is likely to decide who among your blood relatives
As older Americans move into retirement, they face many decisions. Retirement income planning — making a plan to coordinate these decisions to ensure enough income to pay the bills and prepare for uncertainty — is critically important. But Americans may not be as knowledgeable as they should be to face these decisions. Only 20% passed The American College’s recent Retirement Income Literacy Quiz. To improve your knowledge, here are five surprises about retirement income plann
Team Clark is adamant that we will never write content influenced by or paid for by an advertiser. To support our work, we do make money from some links to companies and deals on our site. Learn more about our guarantee here. It’s the great debate that just about everyone has an opinion on…when should you claim Social Security? If you claim your benefit too early, you risk short-changing yourself out of money you paid in to the system. If you claim too late, you’re likely to
It has been one of the more remarkable career arcs in business. Tony Robbins came to fame in '90s infomercials, pitching 30-day programs with slogans like "personal power." Over the next two decades, through entrepreneurship and a message of self-transformation delivered with zeal, he won the ears of some of the most influential people in the world. He advised Bill Clinton during the impeachment scandal, has counseled hedge fund billionaire Paul Tudor Jones for years, and was
“Making friends.” “Being busy.” “Spending more.” “Missing work.” Ask retirees what has surprised them about retirement and you can expect responses such as those. What goes unmentioned, though, may be a surprise that comes at tax time. It is the discovery that, for the majority of recipients, taxes are owed on Social Security benefits. Originally, Social Security payments were tax-free to all retirees. Over time, however, “means” testing was introduced. It now renders those p
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