What Happens to Your Annuity When You Die? Annuities make payments to you while you are alive, but what happens to your annuity when you die? It will depend on what type of payout and beneficiary options you purchase. In this article, we will go over the beneficiary options and taxation of your funds [...]
401k Plans vs 403b Plans 401k and 403b plans are both types of retirement accounts. They are offered by different types of employers. 401k plans are an offering from for-profit companies whereas 403b plans are an offering from nonprofits or public schools. In this article, we will go over 401k plans vs 403b plans. [...]
Qualified Terminable Interest Property (QTIP) Trust A Qualified Terminable Interest Property Trust, or QTIP Trust, is a type of irrevocable trust. It allows you to provide for your surviving spouse while still providing for secondary beneficiaries, such as children from a previous relationship. In this article, we will go over the basics of how [...]
What to do if You Get a Letter From the IRS Everyone’s worst fear is getting correspondence from the IRS. It sends most people into emergency mode, but it does not have to. In this article, we will go over what to do if you get a letter from the IRS. 1. Do Not [...]
Long Term Care Insurance Myths Long term care insurance is not widely used and commonly misunderstood. In this article, we will debunk some long term care insurance myths that can help you understand it better. 1. It is Only Good for Nursing Home Care Using long term care insurance for nursing home care is [...]
5 Pillars of Retirement Planning Retirement planning is made up of several components; these are the 5 pillars of retirement planning. It is important to be familiar with these pillars so you can be prepared for every avenue. In this article, we will go over the 5 pillars of retirement planning. Income Planning It [...]
Transferring Accounts at Death Transferring accounts at death can be accomplished a few different ways. The first is to name a living trust as the owner of the account. The second is to use a POD or TOD designation. POD stands for payable on death, this is typically used to transfer bank accounts to [...]
10 Ways to Identify IRS Scams There are many IRS scams that are out there. Learning red flags can help you spot scams and avoid them. In this article, we will go over 10 ways to identify IRS scams. 1. They’re Calling You First First contact from the IRS will always be through the [...]
Disability Insurance Myths Disability insurance is a type of insurance that will replace income if you can no longer work due to disability. However, there are some common myths surrounding disability insurance. In this article, we will bust seven disability insurance myths. 1. It is Only for People with Dangerous Jobs While it is [...]
Investing in Dividend Stocks Dividend stocks are a type of stock that pays out a set sum of money without having to sell the stock. Many people enjoy this type of stock as another way to provide themselves with income. In this article, we will go over the basics of investing in dividend stocks. [...]
