It’s important for heirs to consider how a windfall might be used to strengthen their finances now and over the long term.
Here are some ideas to help pursue a life of financial freedom.
The One Big Beautiful Bill Act (OBBBA) provides an annual deduction of up to $10,000 for interest paid on qualifying new auto loans, effective for tax years 2025 through 2028.
Unlike retirement accounts, there are no federal contribution limits for variable annuities, and the investment gains won’t be taxed until they are withdrawn.