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‘Are you crazy?’: Suze Orman explains why this $1.6 million retirement plan would backfire, and how to avoid the trap
Yahoo Finance· 2026-01-10 11:33
How it works is simple: Just input your ZIP code and answer just a few questions about yourself, then Advisor.com will match you with the best options from their curated list of financial professionals. From here, you can book a free, no-obligation consultation to make sure they’re the right fit for your financial goals.Services like Advisor.com can provide reliable and trustworthy retirement planning guidance. Trained financial professionals can help you carve out a retirement plan that best aligns with yo ...
Elon Musk gave nearly $100 million worth of Tesla shares to charity for 'tax planning'
Business Insider· 2026-01-01 12:18
Core Insights - Elon Musk donated approximately 210,000 Tesla shares valued at nearly $100 million to undisclosed charities as part of year-end tax planning [1] - Musk's wealth is estimated at $619 billion, making the donation a small fraction of his overall net worth [2] - The donation comes as Musk seeks to strengthen his control over Tesla, where he has been CEO since 2008 [2] Company Control and Strategy - Musk has expressed concerns about not owning enough voting shares in Tesla, stating he would not feel comfortable expanding AI and robotics initiatives without controlling at least 25% of the company [3] - A new pay package approved by Tesla shareholders could potentially increase Musk's stake from 13% to nearly 29% if the company meets ambitious milestones [3][4] Financial Performance and Market Outlook - Tesla is expected to report annual sales figures soon, with an unusual pessimistic analyst consensus predicting a second consecutive year of sales decline [4] - The company has faced challenges with sales falling in China and Europe, despite a record high stock price driven by investor optimism regarding its robotaxi initiatives [5]
X @Elon Musk
Elon Musk· 2025-11-25 13:16
RT X Freeze (@XFreeze)Ask Grok for tax planningMany people end up paying more in taxes, not because they want to, but because tax codes are a maze...Navigating them feels nearly impossibleEven your tax accountant can miss things or make mistakes, putting you at riskWith Grok, tax planning is simple. Grok digs deep to find every savings opportunity, maximizes your deductions, and gives personalized strategies so you keep more of what you earn....all 100% legalYou can ask and cross-verify anything as many tim ...
We're 62 With $950k in IRAs. Can We Still Convert to a Roth?
Yahoo Finance· 2025-11-19 13:00
Core Insights - There is no age limit or income/asset level for executing a Roth conversion, allowing individuals to convert funds from a traditional IRA to a Roth IRA at any time [4][5] - The only age-related restriction pertains to required minimum distributions (RMDs), which apply to individuals aged 73 and older [5] - A Roth conversion can provide tax planning flexibility by potentially reducing or avoiding RMDs in the future [8] Financial Implications - Converting a traditional IRA to a Roth IRA incurs income taxes on the converted amount, which can significantly impact the tax bracket of the individual [8] - For example, converting $950,000 from an IRA to a Roth IRA would result in approximately $267,000 in income taxes, leaving around $683,000 in the Roth IRA after taxes [9] Retirement Planning Considerations - Individuals aged 62 can begin taking Social Security benefits, which do not affect eligibility for a Roth conversion [6] - A financial advisor can assist in evaluating the benefits and implications of a Roth conversion, particularly in the context of retirement savings and income planning [4][6]