Riley Adams

San Francisco Bay

Founder and CEO at WealthUp

NOLA ➡️ Bay. #CPA & Ex-Finance @google. Founder and CEO of Young and the Invested (@youngandtheinv). @kiplinger, @marketwatch and @apnews contributor.

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Articles

Life Insurance Proceeds + Taxes: What You Should Know

1 day ago | wealthup.com | Riley Adams

If you have the great fortune of holding down a job with fringe benefits like paid sick time and vacation, and health coverage through dental, vision and health insurance, you might also carry another benefit: group-term life insurance. Most employers who offer fringe benefits with this option usually provide discounted coverage through a partnering insurer as a baseline and then the add-on possibility of carrying more to suit your needs.
Social Security + Employment: Can You Have Both?

1 day ago | wealthup.com | Riley Adams

Social Security retirement benefits are designed to replace part of your income during retirement. But what happens if you aren’t fully retired? Maybe you’ve decided to ease into retirement by cutting down substantially on your hours, but you’re still working. Or maybe you did fully retire, but now you want to start a side hustle to earn a little extra cash. However it happens, can you still receive Social Security benefits if you’re working?
Retirees, Don't Make These 7 Withdrawal Mistakes

1 day ago | wealthup.com | Riley Adams

During your working years, the size and your frequency of your paychecks is largely determined by your employer. But once you hit retirement, the responsibility of paying you falls to … well, you. Some people might rejoice at the freedom of paying themselves from their retirement accounts as they see fit. Others might find yet another post-work financial decision daunting.
Should You Finance or Buy Your Car Outright? Arguments for Both Sides

1 day ago | wealthup.com | Riley Adams

A car is one of the largest purchases you’ll ever make. It’s easily a five- (and sometimes a six-digit) purchase that could take you days, weeks, even months to properly research to ensure you get the vehicle you need. However, you should also spend some time considering how you should buy your car—that is, should you buy your new mode of transportation outright, or finance it? Because the correct answer might not be as straightforward as it originally seems.
Don't Derail Your Early Retirement With These 10 Mistakes

1 day ago | wealthup.com | Riley Adams

Want to catch “FIRE”? Of course you would! The Financial Independence, Retire Early (FIRE) movement—which involves retiring substantially early, such as in one’s 40s or even 30s—is a dream scenario for just about any American.
10 Tax Deductions You Don't Want to Miss

2 days ago | wealthup.com | Riley Adams

Tax reform in 2018 changed the nature of filing your tax return by increasing the standard deduction and making most taxpayers ineligible for itemizing their tax deductions. As a result, a lot fewer people qualify for taking the most common tax deductions. Therefore, most simply use the standard deduction instead of itemizing their tax deductions. Regardless, there are still a number of ways to save money come tax time.
Term Life Insurance: Pros + Cons You Should Know

2 days ago | wealthup.com | Riley Adams

For those inclined to plan ahead in anticipation of life’s twists and turns, establishing an understanding of the predictability of certain life events becomes paramount. Part of this planning calls for measuring risk, assessing uncertainty and studying financial products like life insurance to manage your financial needs. Insurance acts as a means to mitigate risk or transfer it from one party to another.
Financial Support for Adult Children: How Much Should You Help?

2 days ago | wealthup.com | Riley Adams

Parenthood is a highwire act, requiring a balance between strictness and leniency. Your children need enough structure to prepare for the future and become responsible adults, but enough free time to still act like kids. It’s tricky to toe this line between nurturing and tough love. The balancing act doesn’t go away when your children grow up, but it does shift in nature.
6 Retirement Savings Alternatives

2 days ago | wealthup.com | Riley Adams

There’s little doubt in the minds of millions of Americans that the 401(k) plan stands out as a widely embraced retirement savings option. Despite that broad-based recognition, the quintessential workplace retirement account is far from the only path to financial security in retirement. Plenty of individuals successfully save for their golden years without ever contributing to a workplace retirement plan such as a 401(k). But they need the right account.
12 Expenses 'Original Medicare' Won't Help You Pay

2 days ago | wealthup.com | Riley Adams

Medicare provides roughly 67 million Americans with health care coverage for a wide range of medical services and items … but there are still a number of costs the program doesn’t cover. Roughly half of Medicare users get their coverage through “Original Medicare,” which simply refers to the two primary, government-run parts of Medicare: Parts A and B.