Retirement

What should I do with the $300,000 I am about to inherit?

<b>Dear Moneyist,</b><p>I will be inheriting $300,000 soon. I am debating how to invest it.<p>I am currently working part-time, so though I would love to buy a …

Business

Your guide to tax brackets in 2018

The IRS recently announced the federal tax brackets for 2018, and while the seven marginal tax rates are the same, the income thresholds have increased slightly to keep up with inflation. While there's a chance that these tax brackets may change if the GOP tax reform efforts are successful, here's …

Money

What to do with your stocks now if the tax plan includes first-in, first-out (FIFO)

Say you’ve used a taxable brokerage account to buy shares in a particular stock in installments at various prices. The Senate GOP tax reform bill has …

Business

Why Do So Many People Claim Social Security at 62?

One reason may surprise you.<p>The most popular age in America to claim Social Security benefits is age 62, according to the Center for Retirement …

Social Security

Five things to know about even more changes to the Canada Pension Plan

Print<p>OTTAWA — Canada's finance ministers agreed to a suite of changes to the Canada Pension Plan during their meeting this week. Here are five things …

Quebec

Everything you want to know about Medicare's rules on health savings accounts

<b>Editor’s Note:</b> Journalist Philip Moeller is here to provide the answers you need on aging and retirement. His weekly column, “Ask Phil,” aims to help …

Medicare

New Tax Bill Calculator: Find Out If You’ll Get A Bigger Paycheck With Trump’s New Tax Plan

President Trump delivered remarks about the tax reform package on Wednesday, promising taxpayers they will see bigger paychecks starting in February …

U.S. House of Representatives

Bad news for nonprofits: Will people still give or as much if they can’t get a tax deduction for their charitable giving?

There’s a lot of worry in the nonprofit world.<p>Republicans are hashing out their differences in an overhaul of the tax system and if things go as planned, a boost in the standard deduction may result in fewer people itemizing. And, without itemizing, not as many taxpayers will be able to deduct …

Nonprofits

Does Medicare Cover Nursing Homes?

It's estimated that 70% of seniors 65 and over will need some type of long-term care in their lifetime, and that includes nursing home stays. Now if you're eligible for Medicare, you might assume that if you wind up in a nursing home, your costs will mostly be covered. But actually, that's not …

Medicare

Millions suffer 'mid-life savings crisis' in run-up to retirement

Nearly a fifth of workers in their 50s and 60s are going through a 'mid-life savings crisis' in the run-up to their retirement.<p>Millions of workers in …

Personal Finance (UK)

Column: New U.S. state retirement plans are welcome, but why so expensive?

CHICAGO (Reuters) - Next month, Oregon will become the first U.S. state to start automatically signing up workers to save for retirement if they do …

World Economy

7 little-known financial benefits of divorce

From the cost of the lawyer to the loss of a spouse’s income, divorce often comes at a high price. What’s more, spouses may walk away from the …

Divorce

Amendment to withdraw cash from IRAs needs restrictions

Yes, Senator Inhofe, allowing Americans to dip into their retirement accounts at a reduced tax rate would help the economy and give the Treasury a …

Business

Why debt can be so dangerous in retirement

For retirees, at least, debt may be the new scourge.<p>That’s because those who are on the verge of retirement today have more debt, on average, than at …

Business

Fire forces evacuation of Salaberry-de-Valleyfield retirement home

Close to 100 residents of the Centre Victor-Léger in Salaberry-de-Valleyfield were forced out into the cold Wednesday night, after a fire broke out …

The 1 Stock I'd Never Put in an IRA

<b>Berkshire Hathaway</b> (NYSE: BRK-A) (NYSE: BRK-B) under the leadership of world-class investor Warren Buffett has been one of the greatest American success stories. Over the past 50-plus years, Buffett has radically transformed the former textile company into an insurance and investment holding …

Stocks

4 reasons why your 401k may be a giant rip-off

Your retirement plan is making someone rich — and it may not be you.<p>Quotes in the article<p>America's Car-Mart IncCRMT▼44.35-0.10-0.23%<p>Those were the …

Roth IRA

Sweden to raise minimum pension age as retirees live longer

STOCKHOLM (Reuters) - Sweden will raise the minimum age at which workers can take their state pension over the coming years, a move designed to match …

World Economy

What Sweden's new retirement age means for you

Sweden said it would raise the earliest retirement age from 61 to 64 in order to secure future pensions.<p>"We are reforming the Swedish pension system …

Sweden

The Pitfalls of Not Coordinating a Financial Plan | Investopedia

From taxes to investment to insurance, managing all aspects of your financial plan can be overwhelming. After all, it’s ultimately up to you to make …

Finance

8 Ways the GOP Tax Bill Will Help (or Hurt) Your Bottom Line

From homeowners in Manhattan to renters in Milwaukee<p>While Congress irons out the differences between the tax bills proposed by the House and Senate, …

Personal Finance

Liberal Lawmakers Trying to Bail Out Private Pensions With Taxpayer Money

Last year, liberal lawmakers wanted to bail out the United Mine Workers of America’s pension plan to the tune of roughly $6 billion.<p>This year, …

Conservative View

For Brokers, GOP Tax Bill Could Bring Upheaval and Job Switching

Some brokerage firms are concerned that the tax overhaul could lead to upheaval, pushing their employees to set up their own shops or switch firms to …

Finance

The Best Way to Use TFSAs

Tax-free savings accounts (TFSAs) can be used for saving for retirement, but they also can be used for so much more. For example, you can use TFSAs …

Stocks

Department of Labor Extends Transition Period for Prohibited Transaction Exemptions Related to Its ERISA Fiduciary Rule

On November 29, 2017, the Department of Labor (the "DOL") extended the Transition Period for certain prohibited transaction exemptions related to its …

Law

What you need to know as Bill Morneau announces changes to tax proposals

Finance Minister Bill Morneau has unveiled the finalized version of one of the controversial changes he first proposed last summer to the Income Tax …

Bill Morneau

Readers react to property tax initiative: ‘I don’t want to die in an old folks’ home’

We published a story this week about a ballot initiative to allow homeowners over 55 to move anywhere in the state, as many times as they want, …

San Francisco Bay Area

Sage advice from Suku Radia

Get the news<p>Subscribe Today<p>Log In<p>Subscribed, but don't have a login?<p>Activate your digital access.<p>CLOSE<p>Bankers Trust CEO Suku Radia give some business …

Des Moines

Do not expect postcard-sized tax return from Republican plan: experts

WASHINGTON (Reuters) - Since mid-2016, U.S. House Speaker Paul Ryan has carried around a "postcard" that he has said shows how easy it will be for …

World Economy

Morneau to outline income sprinkling guidelines today

Business groups and Conservatives have been calling on finance minister to release details before Jan. 1<p>Finance Minister Bill Morneau will finally …

Bill Morneau