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Retirement Planning

Home Equity

As a knowledgeable professor in the field of finance, it is important to understand the concept of home equity. This refers to the value of your home after subtracting all debts, such as your mortgage, home equity loan, and home equity line of credit. As you near retirement, your home equity can become a significant financial asset, especially if you are open to selling your home and downsizing to a more affordable property.

Target Date Fund

A target date fund is a type of mutual fund that adjusts its risk level based on the investor's target date, usually their estimated retirement date. This is achieved by gra...

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Qualified Retirement Plan

It is designed to provide retirement benefits to employees. A retirement plan, whether Defined Benefit or Defined Contribution, is a crucial component of financial plannin...

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Required Minimum Distribution (RMD)

The Internal Revenue Service (IRS) requires individuals with an Individual Retirement Account (IRA) to withdraw a minimum amount each year once they reach the age of 70½. Th...

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Excess Contribution

An IRA contribution that surpasses the maximum legal limit is considered an excess contribution and is subject to penalty taxes. These taxes are imposed for each year that t...

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