Breaking Down 401(k) Rollovers: Pre-Tax, Roth, and After-Tax Explained
Rolling over a 401(k) to an IRA at retirement is a common strategy that people will use to continue investing their retirement savings. An important piece to consider is how your contributions have been classified over the course of your time working. There are 4 ways contributions are typically made to a 401(k). The main […]
The Value of a Risk-Adjusted Portfolio in Today’s Market
Investing in recent years has seen a trend of a small number of highly outperforming stocks carrying the larger portion of growth in the market. This has led retail investors to be more interested in chasing these gains in the hope of capturing this growth in lieu of what might be a more appropriate portfolio […]
Are Retirement Benefits Taxable?
If there is one thing everyone can agree on, it is that we want to pay the least amount of taxes as possible. There are many facets of taxes to consider, but the one I am going to discuss today is retirement benefits. There are numerous types of benefits, too many to even discuss in […]
7 Things to Consider About Joint Bank Accounts
A joint bank account is an account that two or more people share. The key feature of joint accounts is that each person named on the account has the ability to access and manage the funds independently. There are several types of joint accounts, including: Things to Check with Your Bank When Someone Dies Losing […]
How to Use Your IRA for Real Estate Investments
Let’s imagine you want to invest in real estate. Maybe you want to purchase a new rental property to start earning additional income, but you don’t have cash on hand and you don’t want to take out a loan from the bank. What other options are there? One option is to use funds in your […]
Mortgage Rates Then and Now: The Reality of Today’s Housing Market
Bill and Penny are recently married and looking to start a family. Their largest goal in mind, buying their first home. They go to their local bank and to their dismay, find that the 30-year rate is 6.625% (actual rate will vary by bank and location). Just three years ago, the same rate was 2.65%. […]
What is a Roth Conversion?
The traditional Roth IRA comes with income limits that may prevent high earners from contributing directly. For instance, in 2024, single filers with adjusted gross incomes above $161,000 ($240,000 for married couples filing jointly) are ineligible for direct Roth IRA contributions. However, there exists a legal pathway, to make Roth contributions for high earners. Here’s […]
Tax Planning Beyond April 15th: Strategies for Year-Round Tax Efficiency
Tax season might only come around once a year, but saving on taxes is a year-round endeavor. By considering tax saving strategies throughout the year, you can minimize your tax burden and keep more of your hard-earned money in your pocket. Stay Organized: Good recordkeeping is the foundation of effective tax planning. Keep track of […]
Making a Meaningful Impact: Seven Creative Ways to Utilize Surplus RMD Funds
There comes a time when everyone who has a tax advantaged account such as an IRA or 401(k), will have to begin Required Minimum Distributions (RMD’s). In 2023, if you are 73, you will be required to withdraw a certain amount of money from your IRA each year. The idea behind this, is that IRA’s […]
Travel Insurance Unveiled: Safeguarding Your Adventures & Peace of Mind
Travel insurance is a type of coverage that helps protect you against financial risks and unexpected situations that can occur before or during your trip, and can be especially important for overseas travel. It typically offers a range of benefits, including trip cancellation/interruption coverage, medical expense coverage, baggage loss/delay coverage, emergency assistance services, and more. […]
