Kiplinger

  • Funding ABLE accounts for special-needs children

    Funding ABLE accounts for special-needs children

    Q: I heard that the new tax law now allows money from a 529 plan to be rolled over into an ABLE account for children who have special needs. How would I do that, and are there any limitations or special issues to consider? A: Yes, the new tax law now allows families to roll over money from a 529...

  • Smart moves to get retirement saving on track

    Smart moves to get retirement saving on track

    Retirement challenges for today’s younger baby boomers, now in their mid-50s, are greater than those of the oldest boomers, who now are entering their 70s. Younger boomers are less likely to have traditional pensions, they’ve paid more for their children’s college education and they’ve benefited...

  • What records should I keep when claiming deductions?

    What records should I keep when claiming deductions?

    Q: What records do I need to keep or receive from a charity to deduct my contributions when I file my 2017 taxes? A: The records you need depend on the type and the size of the gift. It’s important to keep the right records in your files, so you don’t lose the deduction if you’re audited. “The...

  • Finding an encore career with meaning

    Finding an encore career with meaning

    Marci Alboher is the vice president of Encore.org, a nonprofit that encourages baby boomers to use their skills and experience to help their communities. She’s also the author of “The Encore Career Handbook: How to Make a Living and a Difference in the Second Half of Life.” Here’s what she has...

  • How the tax law changes charitable contributions

    How the tax law changes charitable contributions

    Q: I heard that the new tax law changed some of the rules pertaining to charitable giving. Can I still make a tax-free transfer from my IRA to charity and have it count as my required minimum distribution? I’m 75 and I’ve been doing that for the past few years. A: Yes. The new tax law doesn’t change...

  • Sitting on sidelines shortchanges your retirement

    Sitting on sidelines shortchanges your retirement

    A recent survey by Ally Bank found that 61 percent of Americans say that investing is scary, with millennials the most likely to report feeling intimidated. Millennials biggest fear: losing money on investments. Why so much angst? Millennials are the generation that came of age during the worst...

  • Charitable giving can be family affair

    Charitable giving can be family affair

    Q: My husband and I have a donor-advised fund. I’d like to get my children and grandchildren involved in giving to charity. Is there a way I can give them access to some of the money so they can help decide which charities to support? A: There are several ways you can give family members the ability...

  • Psychological traps that can trip up retirement savers

    Psychological traps that can trip up retirement savers

    Most of us are aware that a sneaky set of psychological biases can trip us up when it comes to investing and managing money. And some of these biases seem tailor-made to foil retirement savers. Prudential Retirement, an arm of the insurance giant that administers 401(k) plans, surveyed plan participants...

  • Is my baseball card collection worth anything?

    Is my baseball card collection worth anything?

    Q. I was going through my old baseball card collection and wanted to give some of the valuable cards to my nephew as a gift. What’s been happening to the value of baseball cards, and which types tend to be worth the most now? A. The value of many baseball cards, especially from the 1980s and 1990s,...

  • Paying for pricey continuing care

    Paying for pricey continuing care

    Before you move to a continuing care retirement community, expect the company to carefully vet your finances. CCRCs, which promise to provide housing and care throughout residents’ later years, want to make sure applicants can afford the hefty entrance fee — now averaging $320,000 — plus potentially...

  • What to do when there's not a workplace retirement plan

    What to do when there's not a workplace retirement plan

    Workers are far more likely to save for retirement if their employer provides a 401(k) or similar workplace retirement savings plan. The problem: Millions of employees don’t have access to a plan on the job. Most large companies offer 401(k)s, but only about half of small and midsize companies...

  • Make the most of your 401(k)

    Make the most of your 401(k)

    The amount of money in your 401(k) could mean the difference between taking an annual cruise in your retirement and having to move in with your kids. Here’s how to get the most from your plan. Start saving early, and save as much as possible “If you just increase your contributions by one percentage...

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