Retirement Watch Weekly
The Facts About the 28% Tax Rate on Gold and Collectibles
The tax code doesn’t treat all investments the same. Investment assets designated as collectibles, such as gold, are treated less favorably than many others. The following are listed as collectibles in the tax code: any work of art, any rug or antique, any metal or gem, any stamp or coin, and any alcoholic beverage. The […]
Don’t Let the IRS Decide Your IRA Strategies
Most people with significant assets in IRAs and 401(k)s let Congress and the IRS determine their spending and distribution strate- gies. That’s a big mistake that can cost them and their families quite a bit of money. Most people don’t begin taking money out of their qualified retirement accounts until the required minimum distribution (RMD) […]
Make Family Wealth, Businesses Endure Using the Vanderbilt Strategies
The Biltmore Estate in Asheville, North Carolina, a popular resort and tourist attraction, is a legacy of George W. Vanderbilt, the youngest son of the oldest son of Cornelius Vanderbilt, the builder of the Vanderbilt fortune. My wife, Elaine, and I enjoy visiting there. The Biltmore House, built primarily between 1895 and 1899, still is […]
Which is Best for You: A Will or Trust?
There are two tools available for passing the bulk of your legacy to others. The best choice for one person might not be optimum for another. Either a will or trust can be the foundation of your estate plan. If it’s a trust, it’s usually a revocable living trust. They’re not exclusive. Most estate plans […]
All the Ways You Can (Legally) Avoid Probate
Avoiding probate often is a major estate planning goal, but most people don’t learn all the strategies available. In probate, a deceased person’s estate is administered and distributed according to state and local law. The process ensures debts are paid and legal title to assets passes as the decedent wanted, or according to state law […]
Bob’s Journal for 3/24/23
Some Notable Events That Grabbed My Attention This Week Correction: In the April 2023 issue of Retirement Watch (which was published electronically last week and will be in the mail shortly), the ticker for iShares Global Metals & Mining Producers on page 11 was misidentified and should be PICK, which is stated correctly in the […]
The Four Ways You Can Make Tax-Free Gifts
Gift giving is an essential strategy in many estate plans. When done properly, gifts reduce lifetime income taxes and reduce or eliminate estate and gift taxes. Through gifts, you help loved ones today, and see the benefits of that help, instead of having them wait to inherit. To optimize gifts, know how to minimize gift […]
Bob’s Journal for 3/16/23
Silicon Valley Bank Probably Is Only the Beginning During the last week, both Silicon Valley Bank and Signature Bank were taken over by the Federal Deposit Insurance Corporation. Those failures are likely only the beginning. The Federal Reserve made two rapid changes in monetary policy in recent years. During the early years of the pandemic, […]
