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This is the single best way divorced women can secure a successful retirement

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This is the single best way divorced women can secure a successful retirement
A study by Boston College Center for Retirement Research has found that divorced women are more financially prepared for retirement than their single, never-married counterparts because they are more likely to secure their marital home after the separation, according to this article from Money. However, fighting for the house may not be a wise move for all divorced women, as they may not have the resources to cover mortgage payments, property taxes and other housing costs. “I’m a bit concerned that it will encourage more of them to fight for the house when they shouldn’t, when it’s the wrong financial move,” says a financial advisor.

The IRS is cracking down on this small business tax break. What it means for you
The proposed rule from the IRS for the implementation of the qualified business income deduction under the new tax law would scrap many strategies that companies could use to make the most of the tax break, according to this article on CNBC. One of these tactics is the "crack and pack" strategy. For many business owners, an alternative way to save on taxes is to rely on strategies that will reduce their taxable income, such as contributing to their retirement plan and making charitable contributions through a donor-advised fund.

Older Americans: The new face of student loan debt
Data from the Consumer Financial Protection Bureau shows a steep increase in the number of seniors facing student loan debt over the past 10 years, with their average loan amount increasing considerably, according to this article on Fox Business. “Seniors don’t account for having to pay off the debt when they cosign loans,” says an analyst. “They are not prepared for when they get older. We don’t want to say, no you shouldn’t do this, but the main thing is to understand the risks you are taking and how prevalent student loan default is.”

Want to cut the taxes in your retirement money?
Clients are advised to account for the impact of taxes when saving and investing for retirement, writes a Forbes contributor. For example, putting all their savings in tax-deferred retirement accounts could mean income tax liability by the time they start drawing the funds, explains the expert, adding that they may also face a 10% penalty for early withdrawals. Clients should consider other accounts with different tax treatments such as taxable and Roth accounts.

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