Selling a home can be a significant financial event, especially for those approaching retirement. Understanding capital gains tax and its implications is crucial for homeowners who stand to profit substantially from their property sales. There are significant challenges and multiple options for homeowners that stand to benefit from downsizing. Understanding Capital Gains Tax Capital gains […]
Retirement
Challenges and Opportunities 2024: New IRS Tax Changes
The IRS has rolled out a series of tax code changes for 2024, reflecting adjustments in response to inflation and other economic factors. These updates are crucial for everyone, from the individual taxpayer to families and retirees. The changes affect various aspects of taxation, such as income tax brackets, standard deductions, and retirement contributions, shaping […]
25 Side Gigs That Can Help You Catch Up On Your Retirement Savings
As you approach retirement, you might find your savings aren’t quite where you’d like them to be. Fortunately, it’s never too late to boost your retirement fund. With the gig economy thriving, there are plenty of side gigs that can supplement your income. Take a look at my top picks. 1. Freelance Writing If you […]
24 Money Mistakes That Can Ruin Your Retirement Plans
As retirement comes closer and closer, you might start to let loose because you feel like you paid your corporate fees, and it’s almost time to sit back and enjoy the fruit of your labor. However, it is essential to err on the side of caution because you can make some grave mistakes that will […]
24 Reasons West Virginia Is the Best Place To Retire
Discover why West Virginia (WV) is the optimal retirement destination. With stunning landscapes, affordable living, and a rich cultural heritage, it provides a unique blend of tranquility and community. Explore the practical reasons that make the Mountain State an ideal place for retirees to call home. 1. Music Heritage West Virginia has an awesome music […]
15 Hidden Financial Traps in Your 40s and How to Avoid Them
Investing in your future is more important than ever, especially in the age of zero-hours contracts, gig economies, and digital nomadism. However, some of us may still be late to the game, waiting until our forties to start our financial action plan. What tips can a middle-aged investor take into their methodology? 1. Lifestyle Creep […]
The Dark Side of FIRE: 15 Reasons It’s Not for Everyone
FIRE (Financial Independence, Retire Early) is a popular movement among those looking to escape the traditional 9-to-5 grind. The appeal of gaining financial independence and the freedom to retire at a younger age is undeniable. However, the path to FIRE is not a one-size-fits-all solution, and it’s not without its challenges and potential drawbacks. 1. […]
15 Credit Card Traps That Could Ruin Your Retirement Plans
Credit cards are convenient financial tools, but they come with pitfalls that can jeopardize your long-term money health, especially as you approach retirement. Mismanaging credit cards or falling into certain traps can lead to a cycle of debt and financial stress, significantly impacting your retirement plans. 1. Carrying a Balance Carrying a balance on your […]
15 Money Scams Targeting Seniors and How to Stay Safe
Seniors are often the target of financial scams due to perceived vulnerabilities, such as being less familiar with digital technology or having retirement savings. Scammers exploit these factors, leading to significant financial and emotional distress for the victim. Look at these 15 common money scams targeting seniors and practical advice on staying safe. Awareness and […]
15 Bad Financial Habits You Need to Break Before Retiring
The word retirement can excite pure bliss or financial dread. Are you ready to enjoy a peaceful life, basking in all you have accomplished, or are you worried about the money you have saved? A lot of retirees are not ready financially for the change, but luckily, there are some resources for those in need. […]