One day a forward-thinking couple arrived in my office with a plan. They wanted to bequeath the bulk of the money in an IRA to their two children, and they also wanted the children to receive that money tax free. Nice idea, so together we set about c

A third stimulus check of $1,400 – that's what President-elect Joe Biden is calling for in his $1.9 economic stimulus plan. This, when combined with the $600 second-round payments authorized last month, would bring the total post-CARES Act stimulus

Hopes among investors for yet another round of federal stimulus were at least momentarily offset by a significant employment setback Thursday. But, while the major blue-chip indices yielded ground, small-cap stocks continued their red-hot 2021. Initi

Market strategists increasingly see 2021 as being the year of small-cap stocks. That's because stocks with smaller market values tend to shine in the early part of the economic cycle, when sentiment is rising and investors are willing to accept more

Our income tax system operates on a "pay-as-you-go" basis, which means the IRS wants its cut of your income when you earn it. For employees, the government gets paid through tax withholding each time you get a paycheck. Retirees can have taxes withhe

“Mr. Beaver, suffering from bad arthritis in my hands and nighttime leg cramps — charley horses — led me to inventing a battery-operated lime squeezer that I would like to market. “I was turned on to drinking tonic water, which contains quinine that

The happiness we feel about our money, work, relationships and life in general isn’t derived by only what happens, but also how we perceive what happens. A famous saying often attributed (rightly or wrongly) to Roman emperor and Stoic philosopher Mar

Stock prices were generally unchanged in light trading Wednesday as a major rally in Intel (INTC, +7%) and tame inflation data offset the spectacle of the U.S. House of Representatives' impeachment debate. Intel, which features prominently in all thr

It’s safe to say that most of us are ready for 2020 to finally be over. While this year may have dashed many of our financial goals, a new year brings the promise of new beginnings and opportunities. So often, our New Year’s resolutions fall apart by

You know what they say about timing: It’s everything. That’s especially true about retirement.  COVID-19 has thrown many well-laid retirement plans into disarray. Maybe you planned to work a few more years, but now your industry is in upheaval, and y

What do you think of when you hear the word “family”? In the past, many would think of the historical “traditional” family, with opposite-sex parents who have only been married to each other and have one or more healthy and thriving children who are

We have ended up in a world where employees have to find ways to manage their own funds for retirement, at their own risk. Fortunately, many plans have begun to offer an option called a self-directed brokerage account (SDBA). Some plans even allow yo

David Muhlbaum: While Social Security won’t ever go broke – and we’ll explain why that is – it faces real funding problems, and the pandemic hasn’t helped things. Catherine Siskos, the editor of Kiplinger’s Retirement Report, joins us to talk about p

We've had two rounds of stimulus checks so far – and another round is likely. It's nice getting unexpected money, and for some people it's a life saver. Whatever your situation, we hope you're able to put the money to good use. But many seniors are w

The market finished an up-and-down session with modest gains Tuesday as Wall Street weighed two good news/bad news situations. In Washington, the incoming Biden administration is signaling a third stimulus check, but tensions are high as at least 10,

Although there's no guarantee, a third stimulus check certainly appears to be on the horizon. Many people thought the second-round $600 checks were too little, too late. As a result, the push for a third round of payments began before the law authori

Thankfully, the odds that your tax return will be singled out for an audit are pretty low. The IRS audited only 0.4% of all individual tax returns in 2019. The vast majority of  exams were conducted by mail, which means that most taxpayers never met

If artificial intelligence (AI) is eating the world, it was only a matter of time before stock-picking showed up on its menu. Traditionally, powerful artificial intelligence systems – and the high-octane brainpower needed to develop them – that t

Stocks dipped from record heights Monday amid fresh fallout over last week's assault on the U.S. Capitol. Democrats have quickly stepped up pressure to remove President Donald Trump from office, seeking first to call upon Vice President Mike Pence an

If you're looking for stable, high-yield income, business development company (BDC) stocks should be on your short list. BDCs are generally some of the highest-yielding equities available, and today is no exception. BDCs are similar to their cousins,

When first cousins Peter Guidi, 60, and JJ Mokarzel, 62, decided to launch a bourbon company, Joe Louis Spirits, in Old Orchard Beach, Maine, they each drew from experiences with prior partnerships to structure their business. Both men knew they need

Second-round stimulus payments are still being distributed, but that's not stopping people from wondering when they'll get a third stimulus check. (Notice that I said "when" – not "if" – because a third round of stimulus checks almost seems like a do

It’s a new year, and now is the time to compile and look at all your year-end investment statements. You’re likely pretty happy to see some double-digit gains thanks to the stock market (especially tech stocks) hitting record highs. The statements th

U.S. stock markets finished the first week of 2021 with yet more gains as investors, still high on hopes of even more federal stimulus and a less tumultuous political landscape, managed to slog through several disquieting developments. Daily COVID de

Proponents of digital currencies are exuberant about the potential for 2021 after a monster year that saw highflying Bitcoin prices grab control of the spotlight. That's nothing new – but the much wider feeling across Wall Street that "this time it's

Planning is everything. financial strategies can take years to put in motion and even longer to bear fruit. The last thing you want is to sabotage yourself by missing an important financial deadline, like any one of these dates in 2021. Use this guid

You might be one of the approximately 8 million Americans who finds a debit card in their mailbox soon. If so, don't automatically think it's some sort of scam or junk mail. It might be the second stimulus check payment you've been waiting for – just

Anyone who graduates with a massive pile of student debt has some tough choices to make. Refinance to a seemingly cheaper private loan? Keep your federal student loan and pay it off in the standard way? Take advantage of forbearance to put payments o

A day after being shaken by an attack on the U.S. Capitol, American stock markets found their composure, and fresh highs, amid a little normalcy in Washington and some encouraging economic data. Very early Thursday, Congress confirmed Democrat Joe Bi

David Muhlbaum: What's better than talking about investing in 2021? Which stocks to invest in for 2021. Kiplinger columnist James K. Glassman joins us to discuss his annual stock picks, how last year's fared, what he's recommending now and what he's