Have you witnessed your mom, dad or grandparents having trouble managing money on a day-to-day basis? Are you worried that they may become vulnerable to scams or identity theft? What would happen if you had to suddenly take over management of your parent's finances—paying bills and managing their money? There's not only the day-to-day management but the annual tax returns as well.
Long-debated rules were supposed to go into effect to require your financial advisor to act in your best interests when advising you on your 401(k) and individual retirement account. However, the current administration has delayed the rules' implementation, and their future is uncertain. Meanwhile, however, every investor should know what certain changes could mean.
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