Boost Your Retirement with IRAs and 401(k)s

Remember, early planning puts time on your side Whether retirement is around the corner or decades away, there are more options than ever to help you plan for it. Let’s look at Individual Retirement Accounts (IRAs) and 401(k) plans, which offer tax benefits that can help you save for your future. Traditional IRAs Traditional IRAs…

Read More

401(k) Savings Plans Get a Boost in Bipartisan Retirement Bill

Workers could save more and delay withdrawals under measure passed by House Americans could stash more in their 401(k)s and sit on their nest eggs longer under a House bill that aims to boost individual retirement savings. The bill, passed Tuesday by a vote of 414 to 5, raises contribution limits for older workers, and…

Read More

Four Financial Planning Essentials to Ease Your Retirement Fears

When it comes to planning for retirement, it’s easy to get overwhelmed. Putting together a financial strategy can be complicated at any time of life, what with changing regulations, ups and downs in the market, and disagreements – even among the better-known investment advisers – about the best ways to save and spend money. But…

Read More

Five Common Misconceptions About Retirement

Retirement is not what you retire from, but what you retire to When you plan for retirement, an exciting new phase of life, double-check your expectations. They may not match the reality. Baby boomers, currently in their 50s and 60s, view retirement differently than the previous generations. Many boomers consider retirement as an opportunity to…

Read More

What’s the Best Age to Receive Social Security?

Advice from the Social Security Administration can guide your decision One of the most vexing questions for anyone planning for retirement is: “What’s the best age to start receiving Social Security benefits?” You’ve probably heard that you can begin receiving Social Security benefits at age 62 and that is true. But the benefits are “reduced”…

Read More

IRS Makes Contribution Limit Changes for 2022

The Internal Revenue Service announced that the amount individuals can contribute to their 401(k) plans in 2022 has increased to $20,500, up from $19,500 for 2021 and 2020. From the IRS website: Highlights of Changes for 2022 “The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift…

Read More

Shielding Your Insurance from Estate Taxes

The rules are very stringent, but your financial advisor can help navigate Life insurance, which can help to provide for your heirs in the event of your death, can be an important estate planning tool. It can provide funds to loved ones when they need it most and help meet your family’s financial obligations. One…

Read More

Charitable Giving Yields Tax Benefits for Businesses

An economic downturn may not seem like the best time to increase charitable giving, but at the same time, the need for funding at many nonprofits is especially acute as a result of the current economy. In addition to supporting a worthy cause, you or your business can help lower your tax bill through cash…

Read More

5 Ways to Build A Better Tax Plan

It’s important that as you build your plan, you think about some strategies to reduce or defer your taxes now or in the future. Here are some strategies to consider helping your financial plan become more tax-efficient: 1. Tax harvesting Usually, this strategy is implemented near the end of the calendar year, but it can…

Read More