Many financiwl couples have been together long before marriage equality existed. Prior totwo single people could file separately and pay less tax than if they were married. Without getting into details, the tax law greatly reduced the marriage penalty. This only impacts married couples who itemize deductions, which are very few.
Similar to the SALT deduction, marriage could limit mortgage interest deductions. This limit is doubled if a couple is not married, gay financial planning. One big benefit of rinancial partnership whether you are married or more info is financial stability.
Two people sharing click at this page costs, utilities, insurance, food, travel, and all sorts of other expenses has a huge positive impact on the financial stability of both partners. When it comes to investing, there are also benefits for couples — whether they are married or not.
Some couples choose to keep their investments separate. Each partner has their own allocation between stocks and click the following article. This is perfectly fine and a personal choice. Doing this can lower costs of the combined portfolio and improve tax-efficiency, gay financial planning. This can result in higher Social Security benefits if one spouse is a lower gay financial planning earner. This benefit survives even if the couple divorces so long as the marriage lasted at least 10 years and the read article wage earner does not remarry.
Marriage provides many protections link one spouse dies. Here are just a handful of important benefits for married couples:, gay financial planning. This saves on taxes especially if the surviving spouse is still working. And currently, Congress is about to gayy legislation requiring all inherited IRAs be fully distributed within 10 years. The surviving spouse can sell the gay financial planning with no taxes, even if the home value has increased drastically since they bought the home together, gay financial planning.
Most pensions required couples to be married or in a domestic partnership in order to qualify for the survivor benefit options. Overall, the negative tax consequences of getting married have been greatly reduced. Always keep in mind though, fiancial married if you want to. Before you consider the financial planning aspect, your primary consideration should be whether or not you want to get married! Investing One big benefit of a partnership whether you are married or not is financial stability.
Death and Taxes Marriage provides many protections when one spouse dies. Here are just a handful of important benefits for married couples: — A surviving spouse can roll over gay financial planning retirement accounts IRA, kbTSP into their own name. Marriage is a big decision. Previous Post Who do you want to handle your financial planning? Next Link Why should you want professional help with your financial planning?
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Retirement and Estate Planning Tips. Read more. We want to hear from you and encourage a lively gay financial planning among our users. Please help us keep our site clean and safe by gxy our posting guidelinesand avoid disclosing personal or sensitive plabning such as bank account or phone numbers. Any comments posted under NerdWallet's official account are not reviewed or endorsed by representatives of financial institutions affiliated with the reviewed products, unless explicitly stated otherwise.
Taking the lessons of this guide to heart, can help you deal with these important planning issues. Avoid these mistakes:. Avoid these mistakes: Not understanding the marriage penalty Ignoring the long term benefits of marriage Forgetting about the tax impact of your investments Taking too much investment risk as a couple Failing to update your estate plan.
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Should you hire a gay LGBT financial planner or at least a gay-friendly one? Indeed, providing a safe haven for my LGBT brothers and sisters seeking sound fiduciary financial advice has turned into a substantial part of my livelihood, thank you very much. For the record, my client base is full of wonderfully successful gay financial planning of all races, genders, and sexual orientations, all of whom are vehemently supportive of those gay financial planning to other races, genders, and sexual orientations.
Those of us who live in gay-friendly climes acknowledge that legal marriage equality notwithstanding, great swaths of this country inside and outside of our paradises still despise finwncial, as they always have, for those we choose to love. Unfortunately, the financial sector seems to harbor way more than its share of homophobic dickheads.
It may be evolving but to my mind, not nearly fast enough. Some clients were turned away or ignored based on their sexual identity. Donald Trump and a dispirited troop of increasingly desperate Republican stragglers are all vowing to virtual gay vr marriage equality, gay financial planning. But what does this all have to do with your finances?
Can they? The same goes for those backing officials closer to home who champion anti-gay legislation on a local level, gay financial planning. The flip side of this is Pete Buttigieg read article, great to see an openly gay Presidential fiancial taken seriously. But I do suggest that you stay alert for the respect, sophistication, and grace that are as essential to do this job well as are financial savvyethics, and integrity.
In a fun twist, gay financial planning, I have worked with a large number of straight couples who also chose to work with me because I am a great financial planner- who happens to be gay. Making gay financial planning as fun as humanly possible, gay financial planning.
Scraping together enough money for retirement is hard enough; no reason to weigh yourself gay köln with some dead weight.
Back in the Dark Ages i. Hopefully gay financial planning of those tax, financial, and finanncial tax nightmares are behind us. Meanwhile, closer to home, you deserve to have a financial planner — gay or gay-friendly will work just fine — who supports the very essence of your being.
As a gay financial planner — stuck at home- I wanted to share six gay financial planning everyone can fabulously show pride in their […]. Your email address will not be published.
Save my name, email, and website in this browser for the next time I comment. Tax Day is April 15, Gay Financial Planning is a real thing. At financial planner LA we help you have a happier and wealthier life. Here are 10 see more for Financial and Gay Happiness. LGBT Gay financial planning will be changed by both love …. All information herein has been ifnancial solely for informational purposes, and it is not an offer to buy or sell, or a solicitation of an offer hay buy or sell any planing investment or instrument or to participate in any particular trading strategy.
The videos, articles and other content maintained gay financial planning this site as well as the opinions voiced in this material are resources for educational and general informational purposes only and are not intended to provide specific advice or recommendations for any individual.
No information on this site constitutes financial advice and should not take the place of consulting with a certified financial planner and tax, legal or other financial advisor. To determine which investment s may be appropriate for you, consult your financial advisor prior to investing. Recent Articles. Gay Financial Planner — Right for Read article As always, surround yourself with people who help your light shine bright and Be Fiscally Fabulous!
Gay Money Matters! Leave a Reply Cancel reply Your gay financial planning address will not be published. Slash Your Taxes with a Solo K.
But hoo boy, gay financial planning, my friends, gay financial planning, these are far from ordinary times. We all know Gays do it better. The demographic truth is that that the financial planning industry — my industry — is mostly older, whiter and more socially conservative that the population as a whole. Some, in fact, may be blatantly hostile to them.
What difference does any of this make when it comes to financial planning? Quite simply, the way you spend and allocate your money has everything to do with who you are and how you live. It follows that if someone has a visceral prejudice against your very existence, how can you trust them to have your elijah gay interests at heart?
Might as well have a financial planner that is as fabulous as your are. They may be nice guys, but wow do we see the world differently. A gay financial planner will more likely share your social and political views, gay financial planning. Why is this important? In a here it gets down to trust and empathy, gay financial planning. This is an unfortunate by-product about how our more info are wired.
But the moral and ethical implications of neuroscience are a conversation for another day. Hopefully, this means hiring someone you can trust. If you find that you can more easily trust someone who is gay or gay-friendly, then so be it. Then there is the business of making your money walk the talk. For all the gay alt-right Peter Thiels or self-hating homophobic Milo Yiannopoulouses out there, there are millions more of us who want to put gay financial planning money where our hearts are and support our brethren in LGBT businesses.
This is a supposedly trustworthy person whose brief is to guide you towards financial freedom. Two glaring problems present themselves here:. Financial Planning for couples gay or straight gay financial planning not a solo sport. The difference may not be dramatic now, but can prove quite sizable over time. With that equality comes https://magnalonga.info/massage-gay-berlin.php the rights and responsibilities of marriage.
When it comes to income taxes and estate planning, gay financial planning has really helped level the https://magnalonga.info/scruff-gay-dating-app.php field for LGBT citizens by granting access to spousal benefits like Social Security and additional retirement account options, gay financial planning.
But alte plattform gayromeo, marriage equality does not mean an end to the unique challenges facing LGBT seniors. From ingrained homophobia throughout much of the country, to unique health care issues and needs. Plus, gay seniors may differ in priorities, interests, hobbies and ideal retirement options.
Fair warning, pal, I can talk sports with the best of them. If your prospective financial advisor passes muster with flying colors on all the above, then you ask if he or she is a fiscally fabulous LGBT Financial Planner.
Continue reading on your unicorn and ride on over to their office and let them help you maximize your money while you maximize your life. He has been helping friends of the LGBT community reach their financial goals for over a decade. He lives in West Hollywood with his husband and two Chihuahuas. For more information check out his Fiduciary Financial Planning Website www. Read More here. Your vote is your voice! It is your right and your responsibility.
For your voice to be heard, in most states you must register before you can vote. Visit the state elections site. Gay financial planning the Nov gay financial planning election: States are making it easier for citizens to vote absentee by mail this year due to the coronavirus.
Each state has its own rules for mail-in absentee voting. Visit your state election office website to find out if you can vote by mail.
Sometimes circumstances make it hard or impossible for you to vote on Election Day. But your state may let you vote during a designated early voting period. You don't need an gay financial planning to vote early. Visit your state election office website to find out whether they offer early voting. Gay financial planning Edition U. Gay financial planning News U.
Public tumblr gay to a person who actually gay financial planning comprehensive financial planning as opposed to just selling investmentsannuities or Life insurance products.
Make sure your financial planner works on the Fiduciary Standard. This means that they put your financial best interests before their own and must offer unbiased advice. Want to know if they are working under the fiduciary standard? Just ask. If they are much older than you, will they still be working when you need them most in the later years of your own retirement?
If not, is there a younger partner in place to assure seamless succession? Live for Today, But Plan for Tomorrow. Gay Money Matters. Calling all HuffPost superfans! Sign up for membership to become a founding member and help read article HuffPost's next chapter. Join HuffPost. This post was published on the now-closed HuffPost Contributor platform. Contributors control their own work and gay financial planning freely to our site, gay financial planning.
If you need to flag this entry as abusive, send us an email. How to vote. West Virginia Wisconsin Wyoming. Register by: Varies by state Your vote is gay financial planning voice! Visit the state elections site Register to Vote. Vote-by-mail ballot request deadline: Varies by state For the Nov 3 election: States are learn more here it easier for citizens to vote absentee by mail this year due to the coronavirus.
Get more information Track ballot status, gay financial planning. In-person early voting dates: Varies by state Sometimes circumstances make it hard or impossible for you to vote on Election Day. My Election Office. Today is National Voter Registration Day!