The COVID-19 pandemic has put a spotlight on legacy planning by highlighting the need to get estate plans in order — a task most of us have admittedly neglected. Factor in the prospect of a lower estate tax exemption in the near future and an aging, affluent baby boomer population and it seems that 2021…
It seems like you can’t get people to file their 2020 tax returns fast enough. People are filing their taxes at a blistering pace so far this year, underscoring how serious Americans are about getting any tax refund due or any stimulus-check money they missed last year. The IRS began accepting and processing 2020 tax…
Here’s a common complaint I hear from seniors all the time: Interest rates are so low that it’s impossible to earn enough cash to supplement Social Security. “Certificates of deposit don’t earn anything,” writes MarketWatch reader Camille: “Until the mid-2000s, you could easily earn 4% on a certificate of deposit (CD). Today, your money does…
Dear Quentin, When my husband and his only (younger) brother were growing up, a childless neighbor was very kind to them and treated them as if they were her “nephews”, they even called her “Aunt Hilda.” They also treated her like family; my husband has visited her regularly over the years. But greed is rearing…
Don’t miss these top stories:Personal Finance ‘I was just panicking’: Many Texans face sky-high electricity bills after winter storms — what can they do? Frisco resident Liz Guess’s utility provider, Griddy, charged her credit card 15 times due to an automated debit.IRS has already received 55 million tax returns ahead of April 15 deadline, a…
Dear Quentin, I have presented this question to several people among different walks of life and received very different answers, but nothing is ever settling enough for me, so I would like your input. At the beginning of the last school year I created a school/classroom pod with another family, who we did not know…
Happy Tuesday MarketWatchers. Don’t miss these top stories:Reassess your life and career every 7 years by asking these 3 questions Here's a response to feeling burned out at work or depleted by relationships.Nearly half the states are taxing companies over PPP loans that have been forgiven How is your state treating COVID loans made to…
My husband and I retired early. We were very frugal. Friends called us cheap. We prefer thrifty or frugal. We had no children, they had three kids; we rarely took vacations, they vacationed every year. Who deserves an annual vacation? There’s a reason why we retired early. We always paid cash for our modest cars,…
The rumor has been that 401(k) participants took little action when the stock market declined by more than 30% in February and March 2020. A Morningstar study provides some numbers to back up the lore. The data come from a major record-keeper for defined-contribution plans. The starting point was snapshots for two dates: Dec. 31,…
Dear Quentin, I’ve been flip-flopping back and forth between buying a new car or putting a down payment on my first home. With my parents being very money-minded and keeping a careful eye on my finances (still), I’m caught in a predicament. The original plan was to save up 20% to 30% for a down…