Riley Adams

1 week ago | wealthup.com | Riley Adams

Empty nest, full of questions? Your adult child is ready to fly back home, and you’re navigating this new chapter. Whether it’s a financial reset, career transition, or just a need for a change of scenery, it’s a big decision for both of you. But you’ll need to weigh a number of considerations before committing either way. Let’s go over some of the common pros and cons of letting your child move back into your home after they graduate.

1 week ago | wealthup.com | Riley Adams

Millennials have faced so many financial and economic hurdles in saving for retirement that it’s surprising they still have the stamina to keep sprinting toward their goals. This generation has the highest percentage of consumers with student loan debt. Many entered the workforce during or in the aftermath of the Great Recession. They’re past the golden era of pensions. They suffered through the COVID-19 pandemic.

1 week ago | wealthup.com | Riley Adams

As parents, you want to do the best you can for your kids by teaching them good habits from an early age. While wanting to do everything for them, sometimes all you can do is show them the best way to do something, provide encouragement and pointers and then leave the rest in their hands. This matches the experience many parents face when worrying about how to help their teenagers start building credit. Credit-building is a journey that takes time, dedication and perseverance.

1 week ago | wealthup.com | Riley Adams

You worked hard to have a comfortable life and pass on some wealth to your heirs. Unfortunately, if not done strategically, the transition of your wealth could result in a substantial tax burden for whoever inherits it. Don’t let your final gift to your heirs be a tax bomb. Sure, people typically prefer receiving money with a high tax burden than not receiving the money at all.

1 week ago | wealthup.com | Riley Adams

Sometimes, life goes one way when you planned on it to go another. In the case of retirement planning, let’s say you’ve been saving money in a tax-deferred retirement account (like a traditional individual retirement account (IRA) or employer-sponsored 401(k) plan) that lets you skip taxes when you contribute and only pay the piper once it’s time to make withdrawals in retirement. But midway through your career, your goals or circumstances change.