An important age to remember is 59 1/2 years in regard to your IRA.
Why? Because, if you haven't yet reached that magic age and you withdraw IRA monies, the IRS will charge you a 10% penalty on the amount you withdraw in addition to income taxes on the withdrawn amount. However, in certain circumstances, you can withdraw IRA funds early without a penalty.
Exceptions to the Withdrawal Penalty Rule
Co-parenting children with your “ex” can be a difficult process. Your relationship has ended, but you still have a responsibility to take care of your kids. This is why it’s crucial that you learn to do whatever is best for the children. You can be successful in this endeavor by taking action to move forward.
Why Co-Parenting Is Better For Kids
Children love both of their parents, so they benefit from a united front:
Try these strategies for successful co-parenting:
Running your own home-based business is not for everyone, but most people at some point in their life have given the idea some consideration. It provides many things that a regular job cannot, and if you run the business alongside your regular job, you can have the best of both worlds.
The biggest challenge in running your own business is not in the actual running of it. Where most people struggle is in choosing what kind of business to run!
With that being said, there are still important aspects of any business that need to be dealt with effectively in order for your business to become successful.
1. Enjoy what you do. If you find yourself NOT enjoying what you do, find out what it is you don’t enjoy and either fix it, forget it, change it, or get someone else to do it.
“A woman with a voice is by definition a strong woman
But the search to find that voice can be remarkably difficult.”
- Melinda Gates
Starting a business can be an exciting, yet challenging, journey. People start businesses for different reasons - to solve challenges, to challenge themselves, or to build financial freedom.
The number of new women-owned businesses is growing twice as fast as their male counterparts, according to Kauffman Foundation. But what challenges do women face when starting a business?
In short: a big part of the challenges that women face is themselves.
Studies by the US Small Business Administration show that 21% of women are less optimistic when it comes to sales growth and business performance. Similar studies have found that women in business doubt their decisions more often and are more likely to criticize themselves.
Women are also less likely to ask for financing over the lifespan of their business. And...
Most of us are not financially fit. We are not completely aware of how our money is being spent. We have too much debt and spend money on the wrong things. While it can be challenging to turn things around, it’s well within your reach.
There is no single, correct path to financial prosperity. Different solutions work for different people.
While there are multiple paths, there are some steps that are critical, regardless of the path followed:
Whether you are saving for a house deposit, or perhaps something a little smaller, there are things that you can do at home to save money.
1. Make a shopping list. How many times have you gone to the grocery store and ended up buying things you think you wanted rather than the things you actually needed?
2. Eat more fresh produce. You may think that buying fresh food is expensive, but this is not the case.
3. Stick to drinking water. Rather than opting for a soda, tea, or other beverage, choose...
Perhaps you, like many others, believe that once your will has been drawn up, that is the end of the process. While wills have never been anyone's idea of fun, it’s important to review your will on a regular basis. There are many reasons to pull out your will and give it a thorough review.
Let's examine the most common reasons:
Adopting a step-child is an extremely special decision a step-parent can make. This decision shouldn't be made lightly, though. The financial responsibilities that come with adopting a child should be taken into consideration and planned out before jumping in.
Keep these points in mind about your financial responsibilities if you decide to adopt:
Debt collectors are like mosquitos. They can be annoying and they’re hard to dissuade. Fortunately, there isn’t a whole lot a debt collector can do besides call you and send you mail. The Fair Debt Collection Practices Act (FDCPA) spells out the actions that a debt collector may and may not undertake in the process of collecting a debt.
Your state has additional laws that may limit debt collectors even further. It’s worth investigating these laws, so you understand the rules and can play the game accordingly.
What Debt Collectors can do:
Odds are that you’re not pleased with your ex. The last thing you want to do is leave your ex-spouse your money if you die. But it happens all the time. And it’s not just your most recent ex, you could end up leaving money to your first wife or your second husband. It’s enough to make any adult shudder.
It’s quite easy to assure that this doesn’t happen: