College Savings Loophole, 11 Nontaxable Incomes, Cash Cows You Don’t Want to Ignore

Habits of My Most Successful Wealth Management Clients | Should Retirees Continue to Invest? | 11 Nontaxable Incomes Created for {EMAIL} | [Web Version]( March 30, 2024 CONNECT WITH KIPLINGER  [LinkedIn]( [Facebook]( [X]( [Youtube]( [Instagram]( [SIGN UP]( ⋅ [WEBSITE]( [] Top Story [] [Habits of My Most Successful Wealth Management Clients]( [Habits of My Most Successful Wealth Management Clients]( (Getty Images) Financial adviser Adam Lampe shares the common habits of his most successful clients. These practices focus not only on effective money management but also on [cultivating a growth mindset for long-term success](. [] Successful Retirement Planning [] [Should Retirees Continue to Invest?]( [Should Retirees Continue to Invest?]( (Getty Images) You might have switched to the spending phase of your retirement plan, but financial adviser JB Beckett notes that [that doesn't mean you shouldn't invest any longer, or plan for market volatility](. [Don't Bet Your Retirement on the Stock Market. Follow these 4 Tips]( If your retirement savings are in the stock market, you need to manage your risks. Here are four tips to consider in a plan for income: 1. Lifetime annuities 2. High dividend portfolio 3. Balanced portfolio for IRA withdrawals 4. Conservative estimate of market performance Go2Income plans average a starting income of 5.5% – following this advice. Get your number with a complimentary Go2Income plan today. [Order Your Plan]( ADVERTISEMENT [] In Case You Missed It [] [11 Nontaxable Incomes]( [11 Nontaxable Incomes]( (Getty Images) Knowing the IRS will tax a portion of your earnings can be frustrating. Federal taxable income generally includes wages, tips, royalties, commissions, and for some, up to 85% of Social Security benefits. And that's not an exhaustive list. However, several categories of income are not considered taxable in the eyes of the IRS. Whether income is taxable depends on various rules, requirements and regulations or whether you're talking about federal or state taxes. To help sort through it, [here is a list of some common types of nontaxable income](. [] Social Security [] [Don't Give Your Social Security Number to These Places]( [Don't Give Your Social Security Number to These Places]( (Getty Images) Safeguarding your Social Security number is one of the best ways to prevent identity theft. [Lower the chances of your Social Security number falling into the wrong hands — and what to do if it does](. [4 Options to Consider With Your 401(k) When You Switch Jobs]( You've worked hard to save money in your 401(k) or 403(b) and if you're like most Americans, you're likely to change jobs (and employers) multiple times during your career. There are a few different options you can take with your 401(k) when you switch jobs. [READ MORE]( ADVERTISEMENT Featured Content Sponsored Content from Kiplinger Personal Finance Magazine [Build wealth. Cut taxes. Retire rich.]( Get a [FREE ISSUE]( of Kiplinger Personal Finance magazine, and save up to 74% to subscribe. Includes special issues such as Investing Outlook, Retirement Planning, Mutual Fund Roundup, and Guide to ETFs. Count on Kiplinger for trustworthy help to make more money, keep more of the money you make, and live a financially secure life. [CLICK HERE]( [] Hot Stocks [] [Six Best Cash Cows to Buy]( Cash cows bring in loads of free cash flow that help them sustain dividends and buybacks – and generate long-term value for investors. [Read More]( [] Paying for College [] [Use This Loophole to Maximize College Savings]( Use a 529 plan to fund a grandchild’s education without impacting their financial aid eligibility. [Read More]( [Is your money working hard enough?]( It should be! 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