Retirement

Do You Pay Inheritance Tax On a Trust in California? - Verified by FangWallet
3 min read

Do You Pay Inheritance Tax On a Trust in California?

3 min readDo You Pay Inheritance Tax On A Trust In California? California does not have a state inheritance tax on trust distributions. Understand the differences between inheritance tax, estate tax, and trust taxation. Trusts can help reduce taxes and simplify estate planning in California. Federal estate tax applies to large estates over $13.61 million (2024). Review […]Continue reading "Do You Pay Inheritance Tax On a Trust in California?" →
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Christine Benz<span class="bp-verified-badge"></span> Christine Benz
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Legal,Personal,Retirement
3 min read
Common Mistakes with Inherited 401(k) Withdrawals - Verified by FangWallet
5 min read

Common Mistakes with Inherited 401(k) Withdrawals

5 min readNavigating an inherited 401(k) can feel overwhelming, but it’s crucial for beneficiaries to understand their options. From deciding whether to withdraw funds or roll them into an IRA, being informed can ensure that you make the best financial choices.Continue reading "Common Mistakes with Inherited 401(k) Withdrawals" →
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Christine Benz<span class="bp-verified-badge"></span> Christine Benz
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Personal,Relationships,Retirement
5 min read
what is tax deferred
7 min read

What Is Tax Deferred? How It Helps You Save Money

7 min readTax deferral means putting your taxes on hold. This lets your investments grow faster. This method works well in retirement accounts, like Traditional IRAs and 401(k)s, where you pay taxes later. Consider how compounding plays a role: Your money grows faster without yearly tax bills. However, remember that Uncle Sam will want his […]Continue reading "What Is Tax Deferred? How It Helps You Save Money" →
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Kent Baker<span class="bp-verified-badge"></span> Kent Baker
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Investing,Personal,Retirement
7 min read
The Truth About Senior Citizen Status and What It Really Means - Verified by FangWallet
5 min read

The Truth About Senior Citizen Status and What It Really Means

5 min readIn the U.S., being a “senior citizen” is not linked to a certain age. It usually starts between 55 and 65. This status means you can get benefits like discounts, Social Security, and Medicare if you are 65 or older. Many older adults stay active and keep on working past normal retirement ages. […]Continue reading "The Truth About Senior Citizen Status and What It Really Means" →
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Ben Carlson<span class="bp-verified-badge"></span> Ben Carlson
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Guides,Personal,Retirement
5 min read
Concerns about getting older
8 min read

Real Concerns About Getting Older—And How to Handle Them

8 min readAs we age, it's natural to encounter a mix of excitement and anxiety. From health issues and mental sharpness to financial security and social connections, acknowledging these 14 real concerns can empower us to navigate the journey of aging with informed confidence.Continue reading "Real Concerns About Getting Older—And How to Handle Them" →
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FangWallet Editors<span class="bp-verified-badge"></span> FangWallet Editors
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Elderly,Health,Retirement
8 min read
How to Legally Have Both a 401(k) and Roth IRA Without Exceeding IRS Limits - Verified by FangWallet
5 min read

How to Legally Have Both a 401(k) and Roth IRA Without Exceeding IRS Limits

5 min readYes, you can put money into both a 401(k) and a Roth IRA legally without breaking IRS rules. There are set rules and limits for each retirement account. The tax benefits vary between a 401(k) and a Roth IRA. A money advisor can give you advice based on your situation. It’s important to […]Continue reading "How to Legally Have Both a 401(k) and Roth IRA Without Exceeding IRS Limits" →
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FangWallet Editors<span class="bp-verified-badge"></span> FangWallet Editors
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Guides,Retirement
5 min read
what is a living trust vs will
8 min read

What Is a Living Trust vs. Will? Avoid Costly Estate Mistakes

8 min readEstate planning is crucial for managing assets and ensuring your wishes are honored. A will outlines asset distribution and guardianship for minor children after death. A living trust allows asset management during life and can bypass probate. Understanding estate tax implications is essential for maximizing inheritances. Consulting an estate planning attorney ensures a […]Continue reading "What Is a Living Trust vs. Will? Avoid Costly Estate Mistakes" →
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FangWallet Editors<span class="bp-verified-badge"></span> FangWallet Editors
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Guides,Legal,Retirement
8 min read
how to write a will in texas
5 min read

How to Write a Will in Texas: Do You Need a Lawyer?

5 min readA valid Texas will requires the signatures of two disinterested witnesses and, although not mandatory, should ideally be notarized. Texas law recognizes holographic wills, which are handwritten entirely by the testator, negating the need for witness signatures. To create a will, one must be at least 18 years old and of sound mind […]Continue reading "How to Write a Will in Texas: Do You Need a Lawyer?" →
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FangWallet Editors<span class="bp-verified-badge"></span> FangWallet Editors
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Elderly,Legal,Retirement
5 min read
Walkable neighborhoods pros and cons
7 min read

Walkable Neighborhoods Pros and Cons: Is It Worth the Hype?

7 min readLiving close to everything sounds perfect, but it often comes with unexpected drawbacks. Busy streets, constant noise, and limited privacy can turn a bustling location into a daily stressor. Sometimes, a little distance offers peace and tranquility.Continue reading "Walkable Neighborhoods Pros and Cons: Is It Worth the Hype?" →
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FangWallet Editors<span class="bp-verified-badge"></span> FangWallet Editors
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Elderly,Frugal Living,Legal,Retirement
7 min read
When to revise your will
8 min read

When to Revise Your Will: Don’t Wait Until It’s Too Late

8 min readLife is full of changes, and your will should reflect that. Consider revising it after major events like marriage, divorce, or the birth of a child. Even substantial shifts in finances or moves to a new state can necessitate updates. Stay proactive!Continue reading "When to Revise Your Will: Don’t Wait Until It’s Too Late" →
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FangWallet Editors<span class="bp-verified-badge"></span> FangWallet Editors
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Elderly,Legal,Retirement
8 min read
How to Prepare for the 401(k) Inheritance Process - Verified by FangWallet
4 min read

How to Prepare for the 401(k) Inheritance Process

4 min readUnderstanding the 401(k) inheritance process is crucial for both account holders and beneficiaries. Keeping beneficiary information up to date simplifies the inheritance process and helps avoid probate. A surviving spouse has multiple options for an inherited 401(k.), including rolling it into their own account, transferring it to an Inherited IRA, or taking a […]Continue reading "How to Prepare for the 401(k) Inheritance Process" →
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FangWallet Editors<span class="bp-verified-badge"></span> FangWallet Editors
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Elderly,Guides,Retirement
4 min read
What Are OASDI Contributions and Why Do They Matter? - Verified by FangWallet
4 min read

What Are OASDI Contributions and Why Do They Matter?

4 min readOASDI contributions fund the Social Security program, which provides retirement, disability, and survivor benefits. Employees and employers pay into OASDI through payroll taxes, while self-employed individuals pay both portions. The amount paid is based on a percentage of earnings, with an annual wage base limit. Understanding OASDI is crucial for financial planning, ensuring […]Continue reading "What Are OASDI Contributions and Why Do They Matter?" →
FangWallet Editors<span class="bp-verified-badge"></span> FangWallet Editors
Posted on
Retirement,Guides,Insurance,Personal
4 min read

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