When open enrollment rolls around again at your company, it’s the ideal time to review your benefits and make any necessary changes. Health insurance is a major focus of open enrollment season, but don’t forget that you can check up on other benefits, too – including retirement accounts. At some companies, employees can opt into […]
What are Qualified Charitable Distributions?
For many people, their 72nd birthday is also when the required minimum distributions (RMDs) kick in for their individual retirement account (IRA.) If your RMDs are high, that means you run the risk of being taxed at a higher bracket, because those RMDs are counted as income. There are a variety of options to bring […]
How to Plan Strategic Retirement Withdrawals
If you’re preparing for retirement, there are potential savings you should consider with your withdrawals. With just a few key moves, you could maximize your money and gain significant savings when it comes time to withdraw money in retirement. Here are a couple of the moves that pay off the most for retirees: Diversify for […]
2020 Roth and Backdoor Roth Conversions
COVID-19 left many people short on cash in 2020. Layoffs, furloughs and cut hours meant less income. As challenging and stressful as it is taking a pay cut, even a temporary one, there are some ways to use it to your advantage. If you experienced an income loss steep enough to knock you down a […]
How to use a Deferred Compensation Plan for Retirement
If you dream of retiring early, it’s definitely possible – though not without plenty of advance planning and saving. One roadblock you’ll have to plan for is that you won’t have access to Medicare until you hit full retirement age, which is 65 for most people. So, what should you do until then? When I […]
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