Tag Archives: retirement
In our busy lives, it is not uncommon to put off for tomorrow the things we do not have time for today. This is especially true for things that make us uncomfortable or require significant time and effort to squeeze into our already hectic schedules. However, by sweeping these issues under the rug, you are […]
A Roth IRA is a unique retirement savings vehicle that allows eligible individuals to set aside money today for a potentially tax-free income stream in the future. Like a traditional IRA, a Roth arrangement allows individuals to make annual contributions of up to $7,000 in 2024, or $8,000 for savers age 50 and older. However, […]
Individuals looking to boost their retirement savings beyond the traditional limits of workplace 401(k) and 403(b) plans may be able to do so with a mega backdoor Roth. This strategy may provide a workaround to the income and contribution limits of Roth IRAs while allowing high-net-worth individuals to benefit from tax-free distributions in retirement. For […]
In 2023, the U.S. Department of Labor, Internal Revenue Service and Pension Benefit Guaranty Corporation issued final changes to how retirement plan sponsors must annually report critical information about their employee benefit plans under the Secure Act that was passed into law in 2021. These updates apply to employers’ annual reporting obligations for the 2023 […]
If you want to get in shape, you should establish healthy eating habits and a regular exercise schedule. Are you looking to play an instrument? Take lessons and start a routine of practicing regularly. The road to success is paved with positive behaviors and lifestyle choices. Retirement is no different. Following are six habits that […]
One of the primary objectives of financial planning is to ensure that individuals have more than ample spendable cash flow during their retirement years. Navigating the careful balance between spending too much and possibly running out of funds or spending too little and missing out on all the potential joys of retirement is no simple […]
Women spend a significant portion of their lives putting their families first, tending to the needs of husbands, children and aging parents often before themselves. The problem is that as they approach retirement age, many women find themselves without ample savings to carry them through their golden years. According to the U.S. Census Bureau, working […]
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Spouses saving for an eventual retirement during their working years often have different timelines for leaving the corporate world behind. While a difference in retirement dates can eliminate one income stream and help couples ease slowly into their golden years, careful planning can help ensure their financial goals stay on track. Following are three tips […]
Since Congress first passed the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) in 2019, it has been working on a secondary package of regulations to further expand taxpayers’ access to workplace retirement plans and improve their financial security during their golden years. The proposed regulations, commonly referred to as Secure Act 2.0, […]