A type of education savings account called a 529 plan is just one of several tools families can use to prepare for the growing costs of higher education. While these plans can be beneficial for almost anyone since they let funds saved for education compound on a tax-free basis provided they're used for eligible education expenses, individuals who live in states with special tax breaks for contributions tend to fare the best.
The first SECURE Act extended the beginning date for taking required minimum distributions from the year after the account owner reaches age 70½ until they reach age 72. Just three years later, ‘SECURE Act 2.0’ has extended this age to 73, and offers a further provision for extending it again, to age 75, beginning in 2033.
Estate planning involves organizing and managing the distribution of a person’s assets and property after death. Planning ahead of time can help ensure the distribution of your assets and property according to your wishes.
Millions of Americans use both traditional and Roth IRAs to save for retirement. However, that doesn't mean they all have a full understanding of how IRAs work.
