Picking the Right Payout Option for Your Annuity Picking the right payout option for your annuity is vital for the success of your retirement. You have 3 different options you can choose from. These include the annuitization method, systematic withdrawal schedule, and a lump sum payment. In this article, we will go over these [...]
Budgeting for Retirement Budgeting for retirement is an important topic those nearing retirement age need to consider. According to the Bureau of Labor and Statistics the average American age 65 or older will spend close to $60,087 a year. In this article, we will go over some basics regarding budgeting for retirement to help [...]
Domestic Asset Protection Trusts Domestic Asset Protection Trusts, or DAPTs, are a type of irrevocable trust. They can be helpful estate planning tools and potentially provide protection from creditors. In this article, we will go over the basics of DAPTs. Set Up Only 17 states currently allow Domestic Asset Protection Trusts. These include Alaska, [...]
Filing Taxes as an American Expat Filing taxes as an American expat can feel very confusing and overwhelming. If you are a United States citizen, you have a tax obligation to the United States. In this article, we will go over the basics of filing taxes as an American expat. Paying Taxes When You [...]
Misconceptions About Long Term Care Insurance Long term care insurance is a type of insurance that can cover home health care, assisted living, and nursing homes. But there are some misconceptions about long term care insurance. In this article, we will clear up some of these misconceptions. 1. I am Covered by Health Insurance [...]
Cryptocurrency Basics Cryptocurrency is a type of decentralized digital currency. Bitcoin was the first type of cryptocurrency. In this article, we will go over the basics of how cryptocurrency works. How It Works Each type of cryptocurrency has a blockchain. A blockchain is a constantly changing record of every transaction that was made with [...]
5 Common Mistakes When Forming an LLC An LLC is a limited liability company. This is an entity that can protect your personal assets from business liabilities. There are legal and tax implications when setting up an LLC. However, there are common mistakes when forming an LLC that people make. In this article, we [...]
Capital Gains on Home Sales A home is a capital asset, this means you can owe capital gains on home sales. In this article, we will go over what capital gains tax is, and how you can avoid it. How It Works If you sell a home for profit, you will owe capital gains [...]
Using Life Insurance as an Investment Life insurance is typically used as a tool to care for your loved ones after you pass. But you can also use life insurance as an investment during your lifetime. You can only utilize whole life and universal life insurance as an investment. This is because they have [...]
Types of Retirement Accounts To help you save for retirement there are several types of retirement accounts. These accounts include Traditional IRAs, Roth IRAs, SEP IRAs, SIMPLE IRAs, 401ks and 403b plans. In this article, we will go over the basics of these 6 types of retirement accounts. Traditional IRA IRA stands for Individual [...]
