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Retirement planning
The deadline for required minimum distributions for the first year is April 1
Ronnie Kaufman | Digital Vision | Getty Images If you turn 72 in 2022, the last chance to withdraw your first mandatory retirement plan is April 1—or you could face a heavy tax penalty. Generally, these annual withdrawals, known as required minimum distributions, or RMDs, must begin by a certain age. Prior to 2020, RMD […]
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The deadline for required minimum distributions for the first year is April 1
If you turn 72 in 2022, the last chance to withdraw your first mandatory retirement plan is April 1 or you could face a 25% tax penalty. While the annual deadline for required minimum distributions is December 31, there is a special exception for the first year, which pushes the due date to April 1. […]
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Medicare enrollees could see lower costs on 27 Part B drugs in April
The 27 drugs that may cost the least to recipients are those whose prices have exceeded inflation rates. The cost savings are due to provisions in the Inflation Reduction Act, which Congress approved last August and also made other changes to prescription drug coverage under Part B and Part D. All of the drugs on […]
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“I wasn’t born into money”
1. “The Millionaire Next Door: The Surprising Secrets of America’s Wealth” by Dr. Thomas Stanley The late Thomas Stanley collected years of data on millionaire lifestyles. It was found that not all of them inherited their wealth or owned mansions. Instead, they live a modest life while accumulating their fortunes. This book was originally published […]
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“I wasn’t born into money”
Steve Adcock retired at the age of 35 in 2016. Photo: Steve Adcock by Dr. Thomas Stanley The late Thomas Stanley collected years of data on millionaire lifestyles. It was found that not all of them inherited their wealth or owned mansions. Instead, they live a modest life while accumulating their fortunes. This book was […]
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Here’s how your health should factor into your financial planning
Certified Financial Planner Caroline McClanahan says that there are different parts of financial planning that should be affected by a person’s health. She says that someone who is in poor health or has medical problems should have a very different plan than someone who is otherwise healthy. For example, your life expectancy — and therefore […]
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Why you should buy everything with credit cards
Having multiple credit cards and playing the bonus game can save you hundreds of dollars every year – if you’re smart about how you use the cards. “The big bump in the road is whether or not you have credit,” said Ted Rossman, chief analyst at Bankrate.com and Creditcards.com. “I think you should use your […]
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Why you should buy everything with credit cards
Having multiple credit cards and playing the bonus game can save you hundreds of dollars every year – if you’re smart about how you use the cards. “The big bump in the road is whether or not you have credit,” said Ted Rossman, chief analyst at Bankrate.com and Creditcards.com. “I think you should use your […]
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Investing in 2023 will be hard to come by. Keep the track, says the counselor
The failure of Silicon Valley Bank and Signature Bank are the latest examples of a sudden event that could spook the markets. One advisor says that while investing in 2023 will be “difficult,” those who stay the course will be rewarded. More Ask an advisor Here are more FA Council views on how to navigate […]
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Study: These foods increase the risk of dementia — by a lot
ghee. hamburger. sausage. Store-bought pastries, cakes, and cookies. Oh, and soda — sugar or diet. They’re all bad and they all increase your risk of dementia — a lot. So reports to one of the largest and scariest studies ever conducted, involving nearly 60,000 people in their 40s, 50s and 60s. The study, which included […]
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