The best accounts to leave to charity are pre-tax accounts like a Traditional IRA or 401(k). This is because your heirs would pay income tax on withdrawals, but the charity doesn’t. Heirs/Charities vs. Uncle Sam Your money...
Read MoreThe best accounts to leave to heirs are tax-free accounts (like a Roth IRA) and taxable accounts (non-retirement accounts). This is because your heirs pay no income tax on withdrawals. Heirs/Charities vs. Uncle Sam Your money...
Read MoreOpen a Roth IRA for your child as soon as she has her first job. Give her decades of tax-free growth, and teach her about money in the process. Why You Should Open A Roth IRA For Your Child Tax-Free Growth A Roth IRA is not...
Read MoreThis post explains how to fund a Roth IRA for your child with cash income that is not reported to the IRS. Background Your child must have earned income that the IRS knows about to contribute to a Roth IRA. It’s easiest to...
Read MoreHere are three ways to prevent identity theft without much work. Use a password manager Many people use a few fairly weak passwords across all websites. If a hacker gets into your Netflix account, he tries the same password at...
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