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If you qualify to participate in a non-qualified deferred compensation (NQDC) plan, you may want to pay attention closely. These accounts can offer high-earners who have maxed out their traditional retirement savings options an appealing opportunity to set aside a substantial portion of their income and invest it on a tax-deferred basis. In a new […] The post This Little-Known Account Can Help High Earners Accumulate Wealth appeared first on SmartReads by SmartAsset.

5 Estate Planning Tips For Beginners

Fact-Checked by: Arturo Conde | Edited by: Mike Obel General financial advice can apply to many people. But as an individual, there are unique financial challenges that will be specific to you. According to a 2021 Fidelity study about women and investing, almost seven in 10 women feel confident about managing their household budget, but […] The post Retirement Planning Strategies for Single Women appeared first on SmartReads by SmartAsset.

American wealth is becoming increasingly concentrated at the very top of the economic ladder. The top 1% of families hold over a third of the total wealth in the U.S. – up from 27% in 1989 – according to a Congressional Budget Office report from 2022. The bottom half of all households, meanwhile, control just […] The post America’s Top 1% Is Different in Each State: From a $370k to $950K Income appeared first on SmartReads CMS - SmartAsset.

You cannot name a legal minor as a beneficiary. This applies to almost all legal documents, most notably wills and life insurance policies. The significant exception to this rule is trusts. You can name a legal minor as the beneficiary … Continue reading → The post Can a Minor Be a Beneficiary? appeared first on SmartAsset Blog.