IRS Changes Your Kids' Inheritance Rules, Snowbirds Flock to Florida Tax Rates, The High Cost of Lonely Retirement

The High Cost of Loneliness in Retirement | How Snowbirds Can Establish Residency in Florida for Tax Purposes | 3 Social Security Changes to Know in 2024 Created for {EMAIL} | [Web Version]( February 29, 2024 CONNECT WITH KIPLINGER  [LinkedIn]( [Facebook]( [X]( [Youtube]( [Instagram]( [Retirement Tips]( [SIGN UP]( ⋅ [WEBSITE]( [] Retirement Mindset [] [The High Cost of Loneliness in Retirement]( [The High Cost of Loneliness in Retirement]( (Getty Images) While we often worry about saving enough for [retirement](, the cost of loneliness is rising as an equal threat to a happy, healthy retirement. But there are steps you can take now to [build your social capital in your golden years](. [] Snowbird Life [] [How Snowbirds Can Establish Residency in Florida for Tax Purposes]( [How Snowbirds Can Establish Residency in Florida for Tax Purposes]( (Getty Images) You can't just say "[I'm a Florida resident](" and have the income tax bill from your summer state magically disappear. You need to [show that Florida is your primary and permanent home](, and it's your actions, not your words, that count the most. [3 Potentially Discounted Private Market Investments]( Invest smarter. Explore private market discounts, provide capital solutions to distressed firms, and secure real estate opportunities. Maximize returns with strategic liquidity moves. [READ MORE]( ADVERTISEMENT [] Social Security [] [3 Social Security Changes to Know in 2024]( [3 Social Security Changes to Know in 2024]( (Getty Images) On January 1, several 2024 [Social Security]( changes went into effect, which impact what beneficiaries receive and how they qualify. Some of these could be [happy surprises, like bigger checks](, but others could be concerning if they're surprises, like full retirement age stipulations. [] Estate Planning [] [IRS Quietly Changed the Rules on Your Children's Inheritance]( [IRS Quietly Changed the Rules on Your Children's Inheritance]( (Getty Images) The new IRS rules hold that property in an [irrevocable trust]( 'that is not included in the taxable estate at death' will no longer receive a step-up in basis. Lindsay Graves, Esq., explains [what this means for your heirs]( - and why the wording of this rule is so important. [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 Featured Content Sponsored Content from Decanter [Exclusive European Wine Tours - Selling Fast]( Explore Europe's iconic wineries with Decanter's experts this June. Perfect for solo travelers and couples, our intimate trips offer exclusive access, exceptional wine, food and sightseeing. Check out our brochures and secure your spot now! Spaces are limited. [Learn More]( [] Retirement Accounts [] [Is a Roth Conversion for You? Seven Factors to Consider]( [Is a Roth Conversion for You? Seven Factors to Consider]( (Getty Images) So you're retiring and possibly facing a mountain of [taxes on your nest egg](. A [Roth conversion]( can be like switching to a tax-free tunnel, but it's not for everyone. Financial adviser Joshua Taffer outlines who should take the tunnel and not the mountain route. [What Should I Do With My 401(k) When I 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 [] Healthcare Issues [] [Pharmacy Disruptions Are Ongoing In Aftermath of UnitedHealth's Cyberattack]( [Pharmacy Disruptions Are Ongoing In Aftermath of UnitedHealth's Cyberattack]( (Getty Images) [Pharmacies]( nationwide, including some at CVS stores, are facing ongoing delays following a February 21 cyberattack at healthcare software provider Change Healthcare. Here's [how disruptions could affect prescription filling](. 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. 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