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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 Nov 16, 2021

A qualified income trust (or QIT) is a special form of trust designed to help people receive long-term care benefits under Medicaid. It is intended for people who make too much money to receive long-term or residential-care benefits under the program, yet too little money to pay for this kind of care on their own. Through a QIT patients can carve out a portion of their income each month into a dedicated account. They lose direct access to this money, but it also does not count toward their income for the purposes of Medicaid eligibility. In doing so the trust allows them to become eligible for benefits they otherwise could not receive. Here’s how it works. Read more

by Eric Reed Nov 11, 2021

A financial needs analysis (FNA) is an overview of your current and future financial situation. It takes into account assets, such as wealth and income, set off against liabilities, such as debt and dependents. By creating a financial needs analysis you can get a full overview of your financial situation and how it relates to both your long- and short-term goals. Once you have an FNA, let a financial advisor help you make the wisest use of it. Read more

by Eric Reed Nov 12, 2021

Two of the most widely used employer-sponsored retirement plans are 401(k)s and profit-sharing plans. Both of these are tax-advantaged retirement plans, meaning that the IRS taxes contributions to these plans differently, if at all. Here’s how each of these plans work. Consider working with a financial advisor as you consider how to take advantage of these kinds of plans and boost your retirement prospects. Read more

by Eric Reed Nov 10, 2021

A declaration of trust is the document that establishes a legal trust. It also defines the major elements of the entity, such as the beneficiaries and trustees. Once a trust has been established, a… Read more

by Eric Reed Nov 10, 2021

Inflation is at once one of the most simple and complicated topics in economics. Analysts and others can write multi-volume studies on the subject. Indeed, many economists dedicate entire careers to… Read more

by Eric Reed Nov 10, 2021

When someone dies, everything that he owns becomes known as his “estate.” This estate is the sum total of assets, debts and property owned and owed by the decedent (a legal term for the person who… Read more

by Eric Reed Oct 29, 2021

Stocks and cryptocurrencies are dramatically different investment assets. While both are generally liquid assets that belong in the speculative side of your portfolio, the similarities end there.… Read more

by Eric Reed Mar 18, 2022

An inheritance is a windfall that can absolutely help someone’s financial situation — but it can make your taxes tricky. If you inherit property or assets, as opposed to cash, you generally don’t owe… Read more

by Eric Reed Oct 22, 2021

There’s currently one way to buy cryptocurrency exchange-traded funds in the U.S. — through the Bitcoin Strategy ETF that deals in Bitcoin futures traded on the Chicago Mercantile Exchange. More such… Read more

by Eric Reed Oct 08, 2021

Diamond hands is a term that has been popularized by the cryptocurrency community. In a nutshell, it means holding on to an investment asset despite volatility and risks. Rather than running for a… Read more

by Eric Reed Sep 22, 2021

When you die, a section of law known as estate and probate law governs how your assets are distributed. Someone who dies (known as the “decedent”) with a legitimate will has set up what is known as a… Read more

by Eric Reed Sep 22, 2021

Power of attorney is an important legal planning tool. It is commonly used for estate planning, medical management, financial management and much more. It’s also a flexible tool. You have the right… Read more

by Eric Reed Sep 21, 2021

For many families with elderly people or engaged in estate planning, power of attorney is essential, especially if the elderly person’s mental abilities are compromised. Having someone who can take… Read more

by Eric Reed Sep 17, 2021

Power of attorney is one of the most important legal forms for estate and elder care planning. Along with wills and trust documents, it is a critical document for arranging one’s affairs. A power of… Read more

by Eric Reed Sep 17, 2021

Coinbase and Binance are two of the largest cryptocurrency markets online today. Coinbase is one of the oldest and most well-established markets. It was founded in 2012 and currently trades publicly… Read more

by Eric Reed Aug 31, 2021

Under certain circumstances individuals need to have decisions made for them. Sometimes that’s because the person is unavailable or incapacitated. Other times, the person is no longer competent to… Read more

by Eric Reed Sep 02, 2021

In some circumstances you can get a deduction or credit on your federal income taxes for taxes that you’ve paid to other non-U.S. governments. The foreign tax credit is one of these cases. If you… Read more

by Eric Reed Jan 18, 2022

Expat taxes aren’t easy. They depend on what you do for a living. They depend on where you do it, what taxes the local government charges, where you hold investments, which passports you hold and… Read more

by Eric Reed Aug 27, 2021

Many people have a vested interest in the success of a company. If you own a portion of it, you want it to succeed because then you get a cut of the profits. Folk like that are called “shareholders.”… Read more

by Eric Reed Aug 24, 2021

Pay yourself first, sometimes referred to as “reverse budgeting,” is a form of budgeting that is built around your individual financial goals. Your budgeted expenses are then structured around what’s… Read more

by Eric Reed Aug 23, 2021

Microsoft is one of the highest profile stocks on the market. Although not necessarily the highest performing tech stock out there,  as it has fallen behind the FAANGs in that contest, there are few… Read more

by Eric Reed Aug 23, 2021

Mint by Intuit is one of the most popular free personal finance apps among a wide array of such apps on the market. It lets you link all your accounts and can perform such tasks as reminding you when… Read more

by Eric Reed Aug 23, 2021

Short interest measures how many shares of a specific stock are the object of investors’ negative outlook. These “short shares” have been borrowed by investors to sell and have not yet been… Read more

by Eric Reed Aug 19, 2021

Activist investors have steadily carved out a niche for themselves, establishing investment portfolios built around social and political goals. For example, activist investors made the news recently… Read more

by Eric Reed Aug 19, 2021

When you set up an investment portfolio, it’s essential to have a strategy. That doesn’t have to mean complexity. You can make plans as simple as “minimize risk” or “save for retirement.” In fact,… Read more