Money Management Articles
Wills & Estate Planning
What goals can you accomplish with a trust?
Should a trust be part of your estate planning? Trusts are typically
associated with the very rich, but a surprising number of people use
them to solve a variety of problems or achieve a range of different
Protect your loved ones by learning life insurance basics
When you think about life insurance, you may dismiss it as something
only older people need. At its very basic, a life insurance policy is
taken out on someone's life that pays out when the insured dies, helping
to financially protect dependents and loved ones.
Annuities -- basics, pros and cons
Many things in life are uncertain and retirement is no exception. The
recent stock market plunge is proof enough. With longer life spans and
unpredictable economic factors, investors are looking for ways to
stretch their retirement dollars. Annuities are one way to help provide
you with a steady stream of income during your retirement years.
Three things to know about reverse mortgages
One of the retirement planning resources that has gained interest in
recent years is the reverse mortgage. A reverse mortgage allows you to
convert part of the equity in your home into cash without paying
additional monthly bills. If you're 62 or older -- and want money to pay
off your mortgage, or pay for other expenses -- you may consider a
Get out of debt (and stay out)
On average, American households have about $15,000 of credit card debt,
according to NerdWallet. If you're struggling to pay off your
outstanding balances, or if you're tired of high interest costs, the
Minnesota Society of CPAs (MNCPA) explains the best ways to get out from
under those bills.
Don't let unexpected costs ruin your retirement!
How much do you need to save for retirement? Determining how much you'll
spend on housing, food and other fixed expenses may seem relatively
easy, but how about the costs that come out of the blue?
Tips for couples on managing Social Security benefits
About 59 million people receive Social Security benefits, according to
the Social Security Administration. Were you aware that there are many
options for married couples on deciding how and when to take their
Resolving financial concerns for stepfamilies
Roughly 1,300 new stepfamilies are created every day, according to the
Stepfamily Foundation. And, 41 percent of all Americans have at least
one step relative, based on Pew Research Center findings.
Tax planning update for same-sex couples
Since 2013, federal tax laws for married couples have applied to
same-sex couples who are married in jurisdictions where same-sex
marriage is legal, like Minnesota, even if the couple lives in a
jurisdiction that doesn't recognize same-sex marriage. The Minnesota Society of CPAs (MNCPA) addresses some of the tax planning
issues facing the growing list of couples affected by these legal
changes and offers timely advice.
Year-end tax planning for 2014
Where has the time gone? We are approaching the final months of 2014,
but, before you start thinking about holiday shopping, consider year-end
tax planning and preparation. With proper tax planning, you can
maximize your potential tax savings and minimize your tax liability.
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