The Latest Breaking News from The Free Financial Advisor

Your 401(k) Has $500,000 — How Much of That Money Is Really Yours After Taxes?

A $500,000 401(k) balance can look like a giant neon sign announcing, “Retirement is going to be fine!” Then taxes walk into the room and quietly pull up a chair. If that $500,000 sits in a traditional 401(k), the account balance does not represent $500,000 of spendable money because most…

The Free Financial Advisor · Aug 20

IRS Proposes New Restrictions on Refundable Tax Credits for Some Immigrants

The Department of the Treasury and the Internal Revenue Service have issued proposed regulations that would clarify eligibility requirements for the refunded portions of certain individual income tax credits, according to an official IRS announcement designated IR-2026-93.

The Free Financial Advisor · Aug 20

Chinese National Gets 15 Years in $92 Million Drug Money Laundering Scheme

A Chinese national has been sentenced to 15 years in federal prison and ordered to forfeit $25 million for his role in a Chinese money laundering organization (CMLO) that processed more than $92 million in illicit funds, including proceeds from illegal drug importation and distribution in the United States, according…

The Free Financial Advisor · Aug 19

Home Equity Investments Promise Cash Without a Monthly Payment: What’s the Catch?

Home equity investments sound almost suspiciously convenient: Get cash from the value sitting inside the house, make no monthly payment, and worry about settling the bill later. Instead of taking out a traditional home equity loan or HELOC, a homeowner receives a lump sum from an investor and agrees to…

The Free Financial Advisor · Aug 18

7 Questions to Ask Before Moving Money From a 401(k) Into an IRA

Moving money from a 401(k) into an IRA can look like a simple retirement housekeeping chore: transfer the money, pick some investments, and move on with life. But that little rollover button can affect investment choices, fees, taxes, withdrawal rules, and even how much control comes with the account.

The Free Financial Advisor · Aug 18

FTC Says Doxo Used Misleading Bill-Payment Ads and Hidden Fees — Company to Pay $2.1 Million

Online bill payment company Doxo will pay $2.1 million to settle Federal Trade Commission allegations that the firm and two of its co-founders deceived consumers through misleading search advertisements and undisclosed fees, according to an official FTC announcement.

The Free Financial Advisor · Aug 18

The 4% Rule Isn’t a Retirement Law: 6 Reasons Your Withdrawal Rate May Need to Be Different

The 4% rule sounds wonderfully simple: withdraw 4% of a retirement portfolio in the first year, then increase that dollar amount with inflation each year. But simplicity can become dangerous when a rule of thumb starts sounding like a commandment carved into a retirement-planning stone tablet. William Bengen’s original research…

The Free Financial Advisor · Aug 18

What Happens to Your 401(k) Loan When You Leave Your Job?

Changing jobs can feel like a fresh start, but an outstanding 401(k) loan can follow you right out the door. Depending on the rules of the plan, leaving your employer may trigger a demand for repayment, turn the unpaid balance into a distribution, or create a surprisingly important tax deadline.

The Free Financial Advisor · Aug 17

The 10-Year Retirement Countdown: What to Check When Retirement Stops Feeling Far Away

Retirement can feel wonderfully vague when it sits 20 years away, but the mood changes when the calendar puts a decade between today and the last day at work. Ten years gives plenty of time to make meaningful improvements, but it also puts enough pressure on the plan to reveal…

The Free Financial Advisor · Aug 17

CMS Final Rule Ends Federal Medicaid and CHIP Funding for Certain Gender-Transition Care for Minors

The Centers for Medicare & Medicaid Services (CMS) has issued a final rule prohibiting the use of federal Medicaid and Children’s Health Insurance Program (CHIP) funds to pay for what the rule terms “sex-rejecting procedures” for minors, according to an official announcement published in the Federal Register on August 13,…

The Free Financial Advisor · Aug 17