bob.williams

Since the beginning of 401(k) plans in 1978, people have considered it to be the quintessential retirement plan—you get to save money before taxes and in most cases, the company puts money into your account, too. What could be better than that? But now, 44 years later, it’s time to take a broader look at 401(k)s that considers taxes on [...]

If you have a Health Savings Account (HSA), there’s good news and there’s bad news for next year. The good news—in 2023 you’ll be able to contribute more than you have in the past. The bad news—the higher contribution limits are because of the highest inflation rate in more than 4 decades. In 2023, an individual will be able to [...]

How many times have you seen articles reminding you how important it is to have a power of attorney (POA) document in place, just in case something happens, like an accident of some kind, that leaves you unable to care for yourself or make your own decisions. This is another of those articles, but let’s go a little farther and [...]

Estate planning, like most other things, uses a vast array of tools to accomplish its goal. One of the tools is a trust. But there are more trusts, as the old farmer said, than you can shake a stick at—revocable, irrevocable, living, testamentary, charitable remainder, qualified domestic, special needs, spendthrift, asset protection, and the list goes on and on. One [...]

It seems like you just finished filing your tax return and now it’s almost time to step into the ring with the IRS again. But as you contemplate gathering receipts and tax records for 2021, the IRS is at work adjusting tax brackets for 2022. The U.S. tax system uses a graduated scale, meaning you pay different percentages on your [...]

The end of the year is a financial opportunity—an opportunity to take advantage of remaining tax breaks and keep Uncle Sam’s hand from going deeper into your pocket than it has to, and an opportunity to clean up your portfolio and make sure your financial house is in order. Here is a year-end financial checklist.   Tax Loss Harvesting What [...]

Healthcare during the senior years, especially the topic of long-term care, has been talked about and analyzed ad nauseam. And from all the research, one thing is clear. If you need long-term care, it will be expensive in both dollars and emotions.   Here are a few of the most recent statistics about long-term care in America: 70% of people [...]