In 2020, changes to the rules surrounding individual retirement accounts were implemented, affecting the timeline for withdrawing money from inherited IRAs and potentially triggering tax consequences. The Secure Act of 2019 introduced a new 10-year window for so-called “non-eligible designated beneficiaries” to deplete an inherited IRA. Non-eligible designated beneficiaries include heirs who are not a
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In a bid to promote home energy efficiency, the federal government has introduced a new wave of rebates under the Inflation Reduction Act. A whopping $8.8 billion has been earmarked for Home Energy Rebates programs, with states, territories, and tribes needing to apply for the funding. The Department of Energy has already given the green
Teenagers today are showing a growing interest in their long-term financial health, with 83% of 13 to 18-year-olds having already considered their retirement options. However, there is a significant gap in their understanding when it comes to basic retirement planning. Many teens mistakenly believe that saving money in a bank account is the best strategy
The uber wealthy, specifically centimillionaires with a net worth of over $100 million, operate in a world apart from the average investor. According to Kevin Teng, CEO of WRISE Wealth Management Singapore, this exclusive group of individuals epitomizes extreme wealth and is highly selective when it comes to investments. Unlike the average investor looking for
Looking to generate income in real estate without owning a property? This article explores various avenues for making money in the industry without property ownership. Discover lucrative opportunities!
President Joe Biden recently unveiled his Plan B for student loan forgiveness, emphasizing his commitment to making some college education free for students. The debate between student loan forgiveness and free college has been ongoing, with experts weighing in on the most effective way to combat the college affordability crisis. The Argument for Free College
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The number of centenarians in the United States is expected to increase significantly in the upcoming decades, presenting a substantial financial challenge for households. According to a Pew Research Center analysis of U.S. Census Bureau data, it is projected that by 2054, there will be approximately 422,000 Americans aged 100 and older, which is more