Put Your Eggs in These Three Retirement Baskets, All About Probate, How to Get Fraudsters to Scram

Fear an IRS Audit? You Shouldn't if You Do Your Homework | In Retirement, Put Your Eggs in These Three Baskets | Scams in Retirement: How to Get Fraudsters to Scram Created for {EMAIL} | [Web Version]( June 12, 2024 CONNECT WITH KIPLINGER  [LinkedIn]( [Facebook]( [X]( [Building Wealth]( [Youtube]( [Building Wealth]( [SIGN UP]( ⋅ [WEBSITE]( [] Taxes [] [Fear an IRS Audit? You Shouldn't if You Do Your Homework]( [Fear an IRS Audit? You Shouldn't if You Do Your Homework]( (Getty Images) If you document everything, there's [no reason to freak out]( if the IRS audits you. According to financial planner Matthew Chancey, audits are mostly about seeking documentation, not making accusations. [] In Case You Missed It [] [In Retirement, Put Your Eggs in These Three Baskets]( [In Retirement, Put Your Eggs in These Three Baskets]( (Getty Images) Financial planner Pete Belcastro notes that dividing your money this way can help [ensure you don't run out]( during the many years you spend happily retired. [Prepare For Retirement Using a Dividend Growth Investment Strategy]( If you invested in an S&P 500 index fund starting in January 2000 until September 2020 your average annualized return would have been 4.2%, a cumulative return of 136%. But if you reinvested all dividend payments your annualized return would have been 6.2%, a cumulative return of 247%. Just reinvesting dividends would have nearly doubled your gains. [READ MORE]( ADVERTISEMENT [] Personal Finance [] [Scams in Retirement: How to Get Fraudsters to Scram]( [Scams in Retirement: How to Get Fraudsters to Scram]( (Getty Images) If a caller asks you for money or personal info like account numbers and passwords, you should hang up. Financial planner Tony Drake details [how to spot scammers and protect yourself](. 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]( [] Estate Planning [] [What Is Probate, and Who Has to Deal With It?]( The probate process can be a long and expensive journey for heirs. Estate planning attorney Patrick M. Simasko points out that real estate, cars and even art often trigger probate, but other assets get a free pass. [Read More]( [What's the Best Way to Lower RMD Taxes?]( If you have tax-deferred retirement accounts, you'll need to take required minimum distributions (RMDs) eventually. If not properly planned for, these distributions could take a tax toll on your retirement nest egg. Check out these 6 strategies to help potentially lower your tax bill. [Learn more]( ADVERTISEMENT [] Saving for Retirement [] [When Investing for Retirement, Be Like Rip Van Winkle]( Financial planner Andrew Rosen recommends spending 20 years in a stupor, rather than getting anxious about daily stock market fluctuations, and then reap the rewards of retirement investment returns adding up. [Read More]( [Want To Earn over 5% in a HYS Account?]( You can open a free high-yield savings account in just a few minutes. Simply select one of the high-yield savings products offered by Raisin to begin your savings journey. [Learn More]( ADVERTISEMENT [] RELATED KIPLINGER ARTICLES WE THINK YOU'LL ENJOY [] [Are you a money dummy? 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