A Prime Example of Why You Need an Estate Plan, Baby Boomer With Too Much Cash?, Key to a Happy Retirement: Finding Yourself

Why the Attack on 1031 Exchanges Is Likely to Fail (Again) | Irrevocable Trusts: Less Control Equals More Protection | Are You a Baby Boomer With Too Much Cash? What to Do Created for {EMAIL} | [Web Version]( June 5, 2024 CONNECT WITH KIPLINGER  [LinkedIn]( [Facebook]( [X]( [Building Wealth]( [Youtube]( [Building Wealth]( [SIGN UP]( ⋅ [WEBSITE]( [] Taxes [] [Why the Attack on 1031 Exchanges Is Likely to Fail (Again)]( [Why the Attack on 1031 Exchanges Is Likely to Fail (Again)]( (Getty Images) President Biden proposed the same cap on capital gains taxes last year, and it went nowhere. This year will probably be the same, but [just in case, here's what you can do](, courtesy of real estate investing expert Daniel Goodwin. [] Estate Planning [] [Irrevocable Trusts: Less Control Equals More Protection]( [Irrevocable Trusts: Less Control Equals More Protection]( (Getty Images) Balancing the costs and benefits of surrendering control is key when [ensuring a trust maker's assets are properly managed]( and distributed the way they want. Estate planning attorney Rustin Diehl goes into the details and shares examples. [7 Mistakes People Make When Hiring a Financial Advisor]( Working with a financial advisor can be a crucial part of any healthy retirement plan. But choosing the wrong one could wreak havoc. Avoid these 7 mistakes when hiring an advisor, so you can work to potentially save years of stress. [See the list]( ADVERTISEMENT [] Personal Finance [] [Are You a Baby Boomer With Too Much Cash? What to Do]( [Are You a Baby Boomer With Too Much Cash? What to Do]( (Getty Images) Investing in the market while the market is high might not seem like a good idea right now, so financial planner Evan T. Beach outlines three scenarios to help you decide [what to do with your cash](. Featured Content Sponsored Content from Kiplinger Advisor Collective [Expand Your Influence in the Financial Industry]( Join the Kiplinger Advisor Collective: the ultimate platform for financial experts. Network, build your brand, and share your expertise with readers. [Inquire Now]( [] Retirement Planning [] [Key to a Happy Retirement: Finding Yourself]( Embracing your identity and purpose in retirement can help you avoid negative behaviors that thwart your happiness, joy and well-being, according to Dr. Richard Himmer, a psychologist. [Read More]( [Advice to Help you Keep More of Your Returns]( Our advisors can help you focus on withdrawing your retirement money in a way that helps keep your taxes low. The less you pay in taxes, the longer your money can last. You've worked hard to build up a nest egg and Vanguard advisors are here to help. [LEARN MORE]( ADVERTISEMENT [] Family Matters [] [I Didn't Think I Needed an Estate Plan Until This Happened]( Investor advocate and financial professional Pam Krueger was motivated to get her estate plan in order after the untimely death of a loved one. She shares six simple steps to do that for yourself. [Read More]( [Is your money working hard enough?]( It should be! Learn how Betterment's automated investing and savings technology can make your money hustle, while you don't. [LEARN MORE]( ADVERTISEMENT [] RELATED KIPLINGER ARTICLES WE THINK YOU'LL ENJOY [] [Apple TV+'s 'Loot' offers five lessons for inheriting wealth]( Season two just ended, and main character Molly (played by Maya Rudolph) has shown us multiple ways that new heirs should and should not be like her. [Heat pump vs air conditioner: Which is cheaper to keep your home cool?]( As electricity costs surge amid what is expected to be one of the hottest summers on record, what can you do to cool off? [Roth 401(k) changes: What you should know for 2024]( Key changes to Roth 401(k) account rules may affect your tax planning and retirement savings. For the latest ways to earn 5% to 7% cash yield safely and reliably, plus 4 Model Portfolios to show you exactly where to put your money, bank on [Kiplinger Investing for Income]( ABOUT KIPLINGER When we write about money, we get it right. So the decisions you make with your dollars are also right. Kiplinger is a trusted provider of unbiased financial advice, objective business and economic forecasts, and practical help to millions of business professionals, investors, and individuals seeking to make more profitable decisions with their money. Our [flagship publications]( include [Kiplinger Personal Finance]( magazine, [The Kiplinger Letter]( [The Kiplinger Tax Letter]( [Kiplinger Retirement Report]( and [Kiplinger Investing for Income.]( All are regarded as the leading publications in their respective fields. 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