In the past, trusts were often used to avoid estate taxes, but that purpose has become less important for most people with current high exemption amounts. However, a properly constructed trust can serve many other purposes for families of more modest means.
High-income participants will not be allowed to make pre-tax catch-up contributions to a traditional 401(k) or similar plan starting in 2026, but they will be able to contribute to a workplace Roth.
Couples who have opposite philosophies regarding saving and spending often have trouble finding common ground. This article offers some tips to learn to work with financial differences.
How much will it cost to pay off a loan over its lifetime?
How much life insurance would you need to produce a sufficient income stream for your family?
How much can you afford to pay for a car?
Use this calculator to estimate the cost of your child’s education, based on the variables you input.