Best of 2023: Start With Three Ps for Happy Retirement, Why Are You Still Working?, IRS Changed the Rules on Your Kids’ Inheritance

Ways Parents Can Transfer Wealth to Help Their Kids | Being Rich vs. Being Wealthy: What's the Difference? | To Create a Happy Retirement, Start With the Three Ps Created for {EMAIL} | [Web Version]( December 27, 2023 CONNECT WITH KIPLINGER  [LinkedIn]( [Facebook]( [X]( [Building Wealth]( [Youtube]( [Building Wealth]( [SIGN UP]( ⋅ [WEBSITE]( [] Estate Planning [] [Ways Parents Can Transfer Wealth to Help Their Kids]( [Ways Parents Can Transfer Wealth to Help Their Kids]( (Getty Images) As we wrap up 2023, we take a look back at the hottest Building Wealth articles of the year. First up: Wealth strategist Alvina Lo explains how Baby Boomers can take part in the great wealth transfer in [ways that won't burden their kids]( with extra taxes, from custodial accounts to trusts. [] Personal Finance [] [Being Rich vs. Being Wealthy: What's the Difference?]( [Being Rich vs. Being Wealthy: What's the Difference?]( (Getty Images) CFP Andrew Rosen says it's all about where you put the zeros -- having a large bank account isn't the same as having zero regrets and focusing on [what brings you joy](. [Monitor Your Retirement Investments in Real-Time]( Compare scenarios to see what impact today's changes could have on your retirement tomorrow. [READ MORE]( ADVERTISEMENT [] Saving for Retirement [] [To Create a Happy Retirement, Start With the Three Ps]( [To Create a Happy Retirement, Start With the Three Ps]( (Getty Images) What's your financial "philosophy" for your golden years? Is your retirement "planning" specific to you? What's your "process" to design [your dream retirement](? CFP Nicholas J. Toman addresses these three Ps. Featured Content Sponsored Content from Kiplinger Advisor Collective [Join the Kiplinger Advisor Collective Today]( Are you a seasoned financial professional with a wealth of experience waiting to be shared? Do you dream of expanding your influence within the industry and connecting with like-minded peers? The Kiplinger Advisor Collective is the ultimate platform for personal financial experts like yourself. [Find out more](. [] Taxes [] [IRS Changed the Rules on Your Children's Inheritance]( Property, such as your home, held in an irrevocable trust "that is not included in the taxable estate at death" will no longer receive a step-up in basis. Here's why the wording of that is key, according to attorney Lindsay N. Graves. (P.S. For more on taxes, check out our weekly [Tax Tips]( newsletter.) [Read More]( [Optimize Your Retirement Income With This Advisor]( Our advisors use several strategies, including active funds exclusive to Personal Advisor clients. Low-cost funds, automated tax-loss harvesting, and minimal fees also help you keep more of your savings. [Take the first step with Vanguard today.]( Paid non-client promotion [LEARN MORE]( ADVERTISEMENT [] Retirement Planning [] [Why Are You Still Working?]( Some people have to, but there are plenty of folks who might want to do some soul searching to determine how work fits into their ideal day. (Hint from CFP Andrew Rosen: It likely doesn't.) [Read More]( [Share Your Life Story]( There is no greater gift you can give to your loved ones than the story of your life. We will create your private memoirs in a beautifully handcrafted book. A richly rewarding experience for you and a priceless gift for your family. Call today on (844) 399-0426 to find out more. [LEARN MORE]( ADVERTISEMENT [] Also on Kiplinger [] - Over 50? 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