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Posts by Eric Reed:
If you have money in a checking, saving or other depository account, it is protected from financial downturns by the FDIC. Beyond that, investment products are more exposed to risk, but you can still take some steps to protect yourself. Here’s what you need to know. A financial advisor can help you create a financial plan for your needs and goals during an economic depression. Read more
The gift tax is a tax levied on any unilateral transfer (a gift) from one person to another. The federal tax is aimed partially at making sure wealthy families don’t use gifts to bypass the estate tax. The federal gift tax applies to any kind of taxable assets, including cash, securities and real estate. When the gift tax applies, it is the donor who pays, meaning that if you give a taxable gift you owe any applicable taxes. If you receive a gift, it is rare, if ever, that you owe taxes. It is exceedingly rare for someone to owe money due to the gift tax. This tends to apply only to the wealthiest of households due to the tax’s high exclusions. This is because the purpose of the gift tax is to prevent wealthy families from avoiding the estate tax by simply gifting all their money to each new set of heirs. Here’s what you need to know. Read more
Revocable living trusts have become an increasingly popular tool in estate planning. They’re often used by households to avoid the probate process, which in some estates can save heirs both time and money. However, while trusts are a popular option, often a will is the better one. That’s particularly true for simple or relatively small estates. Here’s how they compare. Use the SmartAsset matching tool to find a financial advisor to help you with estate planning. Read more
At the time of writing the cryptocurrency market was worth about $934 billion. This is down from a market cap of more than $3 trillion in late 2021. Despite the losses, that still makes… Read more
Accountants can pursue several different certificates and credentials to enhance their standing and display their knowledge. These programs may establish that you specialize in certain fields, such… Read more
A flexible spending account (FSA) allows you to save up money for medical expenses. You can use this tax-advantaged fund to pay for costs like copays, deductibles and pharmaceuticals. For the most… Read more
Americans are notoriously unprepared for a financial emergency, with fewer than half – according to some studies – able to afford an unexpected $1,000 expense. That’s an improvement from previous… Read more
When you purchase a home, you need to understand what makes a property valuable so you can get a sense of what you should pay. One of the biggest factors in assessing a property’s value is real… Read more
Inflation measures how prices change for goods and services. When inflation is positive, or greater than 0.0, it means that prices have gone up for the same products or services. Cost of living… Read more
Once you have $1 million in assets, you can look seriously at living entirely off the returns of a portfolio. After all, the S&P 500 alone averages 10% returns per year. Setting aside taxes and down… Read more
Exempt-interest dividends are a class of mutual fund distribution not subject to federal income taxes. They are uncommon, if not relatively rare, and only apply to specific funds that invest in asset… Read more
The value of individual cryptocurrencies can swing widely in the span of days or even hours. That volatility makes it difficult for investors to manage such assets and difficult for them to conduct… Read more
When you buy a house, the mortgage for that property is based on the combined value of the land and the building on that land. But not all buildings can be valued with the underlying land. Mobile and… Read more
Investing involves a series of constant tradeoffs and careful planning, and there is no one-size-fits-all solution. Different investments will provide different potential payouts over time. So when… Read more
The amount you collect from an annuity depends on when you invest, the return your specific annuity offers and the details of your particular contract. As a result, it’s difficult to provide a… Read more
If you’re an individual investor you cannot buy shares of private stock, but you can sell them. In most cases, the easiest option is to sell your shares of stock back to the company that issued them.… Read more
An individual investor you can invest in private companies, but only through side options like an ETF or a mutual fund. An individual investor cannot invest in private companies directly because… Read more
Though similar in many respects, private and public companies differ in significant ways. Private companies only have to follow laws and statutes that apply to everyone else. Publicly traded… Read more
The largest classes of investment for most Americans are retirement funds and real estate. Most Americans have some form of retirement savings, typically held in tax-advantaged retirement account… Read more
In recent months, the news has been full of speculation about Elon Musk potentially purchasing Twitter and making it a private company, leading some people to wonder exactly how that works. Firstly –… Read more
Dividends are the bread and butter of income investors. You don’t need to sell your assets or spend hours every day managing your accounts. Instead, dividend stocks simply generate income on their… Read more
When it comes to investing, you can go it alone or with a partner. That’s true no matter what form your assets take, including brokerage accounts. With an individual brokerage account, you’re the… Read more
For many people, hedge funds and investment banks are both terms that are synonymous with rich people, but the differences between the two are significant. A hedge fund manages a highly diverse… Read more
If you are an ordinary investor, an ETF is often a good investment. In part this is because an ETF has a more stable risk profile than a hedge fund, but mostly it’s because an ETF is your only legal… Read more
Legally, divorce is divorce no matter how much money is involved. In practice, though, high-net-worth divorces tend to be much more complicated than ordinary breakups. Rules surrounding divorce are… Read more
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