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Retiring Early As a Couple: A Financial Love Story
February 11, 2024
Retiring early as a couple is a goal shared by many, and if planned comprehensively, it may provide opportunities for travel, passion projects, and more quality time together. Retiring simultaneously can bring many benefits, such as shared experiences and time together, which may result in a stronger bond. However, it is essential to note that simultaneously retiring means that the couple may stop earning money around the same time, which can impact their income and savings. For this reason, couples must have a plan outlining a systematic approach to saving, spending, and investing. It’s also critical to include factors such ...
Read More → Tips to Planning Your Purposeful Retirement
February 4, 2024
Three science-backed avenues to retirement enrichment and fulfillment Retirement is often idealized as a serene period of well-deserved rest and leisure. Yet, while the respite from a career’s demands is welcome, retirees soon find that the keys to living well in this new phase are engagement and purpose. Research consistently shows that having a sense of purpose is linked to better health, lower stress, and a longer life. Here are three science-backed ways for retirees to find and nurture a sense of purpose in their lives. Volunteer & Build Community Connections Volunteering is a powerful way to inject meaning into ...
Read More → IRS Announces New 2024 Income Tax Brackets
January 21, 2024
Your financial professional can help leverage these changes to impact your tax liabilities It is crucial for individuals to engage in strategic tax planning with their financial professionals, particularly considering the changes to the standard deduction and tax brackets for the year 2024. These modifications, affecting filers who do not itemize their deductions, will only be reflected in the tax returns filed in early 2025. The Internal Revenue Service has elevated the thresholds for its seven tax brackets by 5.4% in 2024. This adjustment implies that a single person can now earn up to $609,350 before facing taxation at ...
Read More → Protecting Your Tax Identity Doesn’t Have to Be Taxing
January 18, 2024
When you think of identity theft, you may think of unauthorized credit card payments or new lines of credit. However, tax identity theft is one of the most common types of identity theft — and it’s also the most common fraud attempt during tax filing season.1 If your identity is stolen for tax purposes, you can find yourself waging battle on two fronts: against the identity thief and the IRS. Fortunately, protecting your tax identity doesn’t have to be difficult. Below, we explain a couple of ways you can theft-proof your ID. Identity Protection PIN The IRS can issue an ...
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