We have all heard of the 401(k) retirement account. Many others are familiar with the 529 college savings plan. But have you ever heard of the 770 account for creating tax-free income in retirement? Today, we discuss this little known provision in the IRS tax code with returning guest and long-time financial advisor, Mike Mitchell.
Learn the difference between these two types of life insurance policies and discover which one may be right for you.
Part Two is all about “protection.” Asset, income, and life protection. Before we construct our financial castle, we first need to build our ‘moat.’
Will vs living trust? It all depends on what you are trying to accomplish.
This is the one legal document everyone over 18 should have.
Many adults do not understand why setting up a will should be a priority for them. I will help clear up this confusion with 4 reasons to get a will now.
If you were to go to the Nursing Home, do you believe that Medicare will pay for your long term care needs?
Have you ever known any one that has become impoverished as a result of going to the Nursing Home?
What is your greatest asset? If asked, most people would say their home, their 401(k), or their IRA. But your greatest asset is your income producing ability.
Did you know that one of our U.S. Presidents did not have a will when he passed away?
With the recent passing of Apple’s Steve Jobs at the young age of 56, we are all reminded that life is fragile and can end much earlier than perhaps we planned. One of the most selfless things that we can do is to confront our mortality now, while we are healthy, and make the hard decisions about how you want our estate handled when we pass.
It’s Friday. And that means that its time for FTMDaily’s Reader Q&A. Each Friday, we reserve our daily column for our readers and their questions. Whether you have a question about your money, our Five Levels of Financial Freedom, the global economy, commodities, or retirement savings, we invite your questions.
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Jerry Robinson will be traveling to speak on the economic crisis until early next week. He will return to with daily column on Tuesday, May 3. In Jerry’s absence, FTMDaily.com friend, Marcus Curtis, will fill in with his personal financial insights. Marcus has been using our Five Levels of Financial Freedom for the last two years.
What exactly is cash value life insurance? What are the benefits of using cash value life insurance as a savings vehicle?