Lonnie Hubbard, sitting in prison and stripped of his assets from an illegal drug operation, was stunned to receive a letter from the IRS. It claimed he owed $275,000 in taxes and penalties—on money he no longer had. Hubbard v. Commissioner Even though the government had seized his IRA as part of his criminal sentence, […]
The U.S. stock market has been extremely volatile since the announcement of new tariffs. On April 7, it briefly dropped over 20% from its February peak. The CBOE Volatility Index (VIX), often called the “fear index”, surged past 60—the highest since August last year. This sharp drop has caused understandable concern, especially those nearing or
The Market is in Turmoil – What does it mean for your retirement? Read More »
As retirement approaches, many focus on saving enough, but they often overlook the impact of taxes on their retirement funds. To make the most of your savings, it’s crucial to plan for taxes and minimize their impact. Here’s what you need to know about taxes after retirement and strategies to reduce your tax burden. When
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Do I really need $2 million? You’ve probably heard the claim that $2 million is the magic number for a comfortable retirement in the U.S. But is that true? The reality is, there’s no one-size-fits-all figure. Your ideal retirement savings depend on your income, lifestyle, and personal goals. Retirement Benchmarks: What the Experts Say A 2024 study
How much do I need to retire? Read More »