As you may know the SECURE Act was signed into law on December 20, 2019. This landmark piece of retirement legislation could impact some decisions about retirement savings strategy.
What can football teach us about personal finance? As it turns out quite a bit. With the Patriots season over sooner than it has been in 10 years – and I know few outside New England are particularly bothered by that – I’ve had a little more time on my hands to muse over the deeper lessons of football. Maybe I just needed something to keep my mind occupied instead of wondering what Tom Brady’s future will be.
So what would you do with an extra $10,000 or $20,000? Ok, you'd pay off some debt, get rid of some college loans, or take an extra vacation. But, what if you suddenly had an extra million or $10 million or more? Coming into a windfall that large gives you some issues to deal with. Whether it is from inheritance, the sale of your business, life insurance or a big gain coming out of your downsizing, you'll need to re-evaluate your financial position and consider how your sudden increase in liquid wealth will affect your financial and, importantly, your life goals.