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Eric Reed

Retirement and Investing Expert

Eric Reed is a freelance journalist who specializes in economics, policy and global issues, with substantial coverage of finance and personal finance. He has contributed to outlets including The Street, CNBC, Glassdoor and Consumer Reports. Eric’s work focuses on the human impact of abstract issues, emphasizing analytical journalism that helps readers more fully understand their world and their money. He has reported from more than a dozen countries, with datelines that include Sao Paolo, Brazil; Phnom Penh, Cambodia; and Athens, Greece. A former attorney, before becoming a journalist Eric worked in securities litigation and white collar criminal defense with a pro bono specialty in human trafficking issues. He graduated from the University of Michigan Law School and can be found any given Saturday in the fall cheering on his Wolverines.

Posts by Eric Reed:

by Eric Reed Apr 06, 2022

After a certain age, you must begin to take minimum withdrawals from your tax-advantaged retirement accounts. The exact amount of this required minimum distribution or RMD is determined by a number of factors, including your age and the amount you have saved up. The IRS requires you to report this distribution on your annual taxes, so it has to happen by the end of each calendar year. Beyond that, though, you can structure this withdrawal based on your own financial interests. Most retirees collect their required minimum distributions either annually, quarterly or monthly. So long as you withdraw the minimum required amount by Dec. 31, the tax implications are unchanged. Let’s consider your options. A financial expert could help you create a financial plan for your retirement needs and goals. Read more

by Eric Reed Apr 06, 2022

Commodities trading means you’re buying and selling raw materials rather than finished products (like a house) or financial assets (like stocks and bonds). Commodities are assets like corn, coffee, lumber and ore. One common form of commodities trading is investing in precious metals, namely gold and silver. As an investment asset, gold and silver have very different properties and uses in your portfolio. For more help with investing in gold or silver, consider getting the help of a financial advisor. Read more

by Eric Reed Mar 31, 2022

One of the catches when you use a tax-advantaged retirement account like a 401(k) or an IRA is that once you hit a certain age, you have to start taking a minimum amount of money out each year — to stop people from protecting the money from taxes for too long. Some may wonder, though, if they can simply reinvest that money immediately. The answer is that yes, you can put the money you take out in required minimum distributions back in the market right away — so long as you don’t use another tax-advantaged account. For more help with retirement investments, consider working with a financial advisor. Read more

by Eric Reed Mar 31, 2022

Whether you’re planning aspirationally or have worked hard and saved well, it’s always worth making smart plans with your money. If you have $500,000 to invest, it’s worth putting that money to work… Read more

by Eric Reed Mar 30, 2022

Diversification is the key to any long-term investing strategy. Whether this means building some speculation into a conservative portfolio or vice versa, you want your money spread out over a variety… Read more

by Eric Reed Mar 25, 2022

Non-fungible tokens, or NFTs, have become the next big thing for many traders who operate in a blockchain environment. Built on the same coding format as cryptocurrency, this market has scaled almost… Read more

by Eric Reed Mar 24, 2022

If you invested in gold and sold it for a profit, you are probably looking for ways to minimize your taxes. Smart tax planning is crucial for the success of your investments. And there are definitely… Read more

by Eric Reed Mar 24, 2022

While 79% of Americans told Fidelity Investments in 2022 that they are confident about their retirement planning, 71% also said that they are concerned about the impact of inflation on reaching their… Read more

by Eric Reed Mar 24, 2022

Many investors believe that gold is a safe long-term investment that can be used to hedge against risk. But should you include this precious metal in your retirement portfolio? Gold can be a highly… Read more

by Eric Reed Mar 22, 2022

Divorce settlements can be extremely complicated. While it makes eminent sense to work with a financial advisor as you plan your finances for a divorce, there are several key areas that can hold… Read more

by Eric Reed Mar 22, 2022

A CPA, or certified public accountant, is someone who specializes in taxes and can manage the math involved with them. A tax attorney is a lawyer who knows how to review your tax decisions to see… Read more

by Eric Reed Mar 22, 2022

The short answer to this question is, “Yes, provided you are prepared to accept a modest standard of living.” To get an an idea of what a 60-year-old individual with a $300,000 nest egg faces, our… Read more

by Eric Reed Mar 21, 2022

Many homeowners buy their homes through mortgage brokers. These are retail-facing third parties who help pair potential borrowers with potential lenders in the mortgage market. Brokers don’t provide… Read more

by Eric Reed Mar 09, 2022

If you own a home, it’s often thought that you should pay off your mortgage as quickly as possible. This is often advisable. A mortgage is frequently the largest amount of debt most people will ever… Read more

by Eric Reed Mar 08, 2022

Most Americans have very simple tax needs. Their employer handles biweekly withholding, then every April they file for a refund or payment based on their appropriate standard deduction. However,… Read more

by Eric Reed Mar 08, 2022

Rivian is an American electric vehicle manufacturer. Founded in 2009, this firm isn’t one of the big car companies that have dominated the market for years. Nevertheless, it is considered one of the… Read more

by Eric Reed Mar 08, 2022

Lithium, the lightest metal on the periodic table of elements, has emerged as a metal of choice for many 21st century electronics and electrical devices. In particular, it is the basis of the lithium… Read more

by Eric Reed Mar 09, 2022

Money brings out the worst in people. One of the most remarkable things you learn when practicing estate law is how quickly families will fight over even a minor inheritance. While new lawyers expect… Read more

by Eric Reed Feb 28, 2022

Retiring at age 58 may seem like an impossible dream, but by following a specific process, which we outline below, you can determine the likelihood of such a move being within your grasp. The key is… Read more

by Eric Reed Feb 28, 2022

If you gain wealth of any kind, you must pay taxes on it. This includes physical property, money and debt forgiveness. Likewise, winning a bet counts as gaining wealth, which means you must report it… Read more

by Eric Reed Feb 28, 2022

Current tax law does not allow you to take a capital gains tax break based on age. Once, the IRS allowed people over the age of 55 a tax exemption for home sales. However, this exclusion was closed… Read more

by Eric Reed Feb 23, 2022

So you have $3 million to invest. Maybe you saved up meticulously and well. Maybe you sold your company or wrote a best-selling novel. Maybe you simply won the lottery (fun in theory, but not a… Read more

by Eric Reed Feb 23, 2022

The IRS established the 401(k) as a tax-advantaged plan for employees, rather than the self-employed. This works fine most of the time, but in an era when people change jobs far more often than they… Read more

by Eric Reed Feb 16, 2022

The IRS treats cryptocurrency as a standard type of property, the same as receiving comic books or a car. The government taxes this asset as either ordinary income or capital gains. This means that… Read more

by Eric Reed Feb 16, 2022

An inter vivos gift occurs when you give someone assets without receiving anything in return. To be considered an inter vivos gift, you must give them this property while alive. If you give them this… Read more