A 40-year-old Reddit user who regularly accepts money from his rich father is interested in finding a way to arrange his financial situation so he can get more money from his dad without having…
Many savers are drawn to traditional IRAs and 401(k)s because they offer a tax break on contributions. But in return, people who use these plans face taxes on withdrawals during retirement, not to…
As parents, we tend to be inclined to sacrifice everything for the sake of our kids. But sometimes, we have to put our own best interests first. Such is the case…
Some people have very high hopes. People like the writer in today’s letter drawn from the Reddit mailbag, for example. Our special guest today (let’s call her “Samantha”) describes herself as a 49-year-old, single…
Receiving a small inheritance can be a blessing, even when it is not a windfall. Every little bit helps towards growing your retirement nest egg. So long as you nurture it and help it…
Mark Zuckerberg has emerged as one of the most successful entrepreneurs. He saw an opportunity in social media by launching Facebook and proceeded to acquire Instagram for a steal at just $1 billion. The businessman…
For better or worse, most people never consider a scenario where their tax returns could go missing without their knowledge, leaving them open to potential liability from the IRS. The disappointing part is that…
One of the most important social programs in the United States, Social Security, is used by more than 71 million Americans annually. Whether for retirement, disability, survivor or spouse’s benefits, or some other aspect of the…
It’s not all too uncommon for retirees, especially younger early retirees embracing the FIRE (an acronym for financial independence, retire early), to start catastrophizing before or shortly after making the transition to retirement. Undoubtedly,…
The Department of Government Efficiency (DOGE), headed up by Elon Musk, has gone to work on Social Security, and Democrats are not happy. As DOGE has started the process of finding “waste, fraud, and…
Surprisingly, one of the most challenging aspects of dealing with a death in the family isn’t the death itself, it’s whatever the deceased left to the family. Battles over inheritances are the stuff of…
If you spend any time reading articles on sites like CNBC, you’ll quickly learn that there are a surprising number of individuals who are living a life of luxury outside the US while making…
Despite rumors that Social Security is at risk of disappearing, it’s not in lawmakers’ best interest to let the program go away or even cut benefits. So there’s a good chance Social Security…
When I was in my early 30s, I started having kids. But a good number of my friends weren’t yet parents at the time, and they were definitely focused on going out and…
A 55-year-old Reddit user with an $8 million net worth is ready to pull the trigger and retire. His kids will be leaving home soon, and he anticipates spending $250K a year in retirement,…
