For some people, avoiding or minimizing probate is a key goal guiding their estate planning. Probate court is a proceeding to manage the distribution of a deceased person's assets when there is no will, or there is a will, but there is also a dispute or some lack of clarity regarding the disposition of assets. Probate can also handle conservatorships, guardianships, and involuntary commitments.
In November, Realized attended the InvestmentNews Retirement Income Summit in Naples, Florida. The event provides professionals within the retirement planning industry the opportunity to network and gain knowledge on trends in retirement income planning.
An aspect of successful investing can be using legal tax deductions to your advantage in order to maximize your annual returns. While many people think about the New York Stock Exchange, real estate, and other investment methods when they consider investing, it’s also important to understand how to utilize an IRA in an attempt to build your own net worth. IRAs can be useful tools for investors who are looking for a way to further diversify their portfolio. Not only should you understand how to use an IRA, but also, how to use the tax advantages associated with them.
Asset allocation in your 401(k) helps manage investment risk. You don’t need to be a seasoned investor to have a say in how your assets are going to be invested; however, you should be aware of some of the basics.
When it is time to retire, one of the major concerns is whether there will be enough money to live comfortably throughout retirement. It is stressful to not know if you will need 10, 20, or maybe even 30 to 40 years of retirement funds.
This can be a tricky question, and is one that anyone who plans to retire someday should ask, “what percentage of income should go to retirement?”