This Trust Strategy Can Reduce Your Taxes Big-Time | Four Social Security Myths Debunked | Do You Know How Much Is in Your 401(k)?

Money Lessons From a Dad and Financial Adviser | Do You Know How Much You Have in Your 401(k)? | This Trust Strategy Can Cut Your Taxes Big-Time Created for {EMAIL} | [Web Version]( October 6, 2024 FOLLOW US:  [LinkedIn]( [Facebook]( [Building Wealth]( [Building Wealth]( [SIGN UP](format=multipart) ⋅ [WEBSITE]( [] Family Matters [] [Money Lessons From a Dad and Financial Adviser]( [Money Lessons From a Dad and Financial Adviser]( (Getty Images) Hey, parents: Do you have a clear plan for [teaching your kids about money](? Get started now, with a little help from financial adviser, and father, Frank J. Legan. [] Saving for Retirement [] [Do You Know How Much You Have in Your 401(k)?]( [Do You Know How Much You Have in Your 401(k)?]( (Getty Images) A surprising number of workers don't know where they stand with their company's retirement plan. Investment adviser Cynthia Pruemm writes that the end of the year is [a great time to check in]( and make some tweaks if necessary. [Estate Planning 101: Key Actions to Take]( Create an estate planning strategy that is aligned to your financial goals and creates a legacy that reflects your values. Use this checklist to start today. [READ MORE]( ADVERTISEMENT [] Estate Planning [] [This Trust Strategy Can Cut Your Taxes Big-Time]( [This Trust Strategy Can Cut Your Taxes Big-Time]( (Getty Images) Estate planning attorney Rustin Diehl explains how upstream basis planning can help younger wealthy people [pay less taxes on highly appreciated assets]( by appointing an aging relative as a trust beneficiary. [] Insurance [] [Your Insurance Rates Keep Rising: What to Do]( Prices only seem to go up, up, up, and property insurance claims are bigger and more frequent, impacting everyone. What's a policyholder to do? Insurance pro Karl Susman has answers. [Read More]( [Best Compounding Interest Investments in Preparing for Retirement]( If you invested in an S&P 500 index fund starting in January 2000 until September 2020 your average annualized return would have been 4.2%, a cumulative return of 136%. But if you reinvested all dividend payments your annualized return would have been 6.2%, a cumulative return of 247%. Just reinvesting dividends would have nearly doubled your gains. [READ MORE]( ADVERTISEMENT [] Retirement Planning [] [Four Social Security Myths Debunked]( With so many headlines surrounding Social Security these days, what is fact and what is fiction? For instance, will the program really run out of money? Financial planner Tony Drake sets the record straight. [Read More]( [Top 5 Wealth Management Firms in the US]( If you're looking for help with wealth management, retirement, or tax planning, finding the top financial advisor in the United States means choosing between thousands of options. Check out the list of top 5 firms in the US for individual investors. [See the list]( ADVERTISEMENT [] RELATED KIPLINGER ARTICLES WE THINK YOU'LL ENJOY [] [The average IRA balance by age]( Knowing how the average IRA balance of peers compares to your own could be the nudge you need to save more for retirement. [Coverdell education savings accounts: A deep dive]( While there are some limitations on income and contributions, as well as other restrictions, a Coverdell can be a bit more flexible than a 529 plan. [The best temperatures to set your thermostat]( These are the best temperatures to set your thermostat in the summer and winter to save the most on energy bills. From building wealth for a secure retirement or investing wisely in any market to money-saving tax planning and much more – [sign up to explore more free e-newsletters here](. ABOUT KIPLINGER When we write about money, we get it right. So the decisions you make with your dollars are also right. 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