Tag Retirement Planning
8 reasons to open a solo 401k plan
Updated for 2024 What is a solo 401k plan? The solo 401k plan is a powerful tool for entrepreneurs to save money for retirement and reduce their current tax bill. These plans are often ignored and overshadowed by the more…
Redefining Retirement Goals: From Rocking Chairs to Road Adventures
Redefining Retirement: The traditional notion of retirement, marked by leisurely days spent in quiet relaxation, is undergoing a profound transformation. The vision of retirement is changing dramatically. For decades, retirement conjured images of rocking chairs and golf courses. But the…
10 Essential Money Saving Tips for 2024
10 Essential Money Saving Tips for 2024. It’s 2024. You turned a new chapter of your life. Here is an opportunity to make smart financial decisions and change your future. I have my list of ideas to help you care…
401k contribution limits 2024
401k contribution limits for 2024 are $23,000 per person, up from 22,500 in 2023. All 401k participants over the age of 50 can make a catch-up contribution of $7,500, for a total of $30,500 What is 401k? 401k is a…
Roth IRA Contribution Limits 2024
The Roth IRA contribution limits for 2024 are $7,000 per person, with an additional $1,000 catch-up contribution for people who are 50 or older. There is a $500 increase from 2023. Roth IRA income limits for 2024 Roth IRA contribution…
Smart Strategies for Reducing Taxes on Required Minimum Distributions
What is RMD? Required Minimum Distributions (RMDs) are mandatory withdrawals that individuals with tax-advantaged retirement accounts like Traditional IRAs, SEP IRAs, and 401k must take after reaching a certain age. These accounts come with certain tax advantages. Typical contributions are…
Last minute 401k moves to make in 2023
Last minute 401k moves to make in 2023 to boost your retirement savings. Do you have a 401k? These six 401k moves will help you grow your retirement savings and ensure that you take full advantage of your 401k benefits.…
401k contribution limits 2023
401k contribution limits for 2023 are $22,500 per person, up from 20,500 in 2022. All 401k participants over the age of 50 can make a catch-up contribution of $7,500, for a total of $30,000 What is 401k? 401k is a…
10 Essential Money Saving Tips for 2023
10 Essential Money Saving Tips for 2023. It’s 2023. You turned a new chapter of your life. After experiencing once-in-a-lifetime events in 2022, here is an opportunity to make smart financial decisions and change your future. I have my list…
Roth IRA and why you probably need one – Updated for 2022
Roth IRA is a tax-exempt investment account that allows you to make after-tax contributions to save for retirement. The Roth IRA has a tax-free status. It is a great way to save for retirement and meet your financial goals without…
Charitable donations: 6 Tax Strategies – Updated for 2022
Charitable donations are an excellent way to help your favorite cause, church, foundation, school, or other registered charitable institution of your choice. Americans made $484.85 billion in charitable donations in 2021, which was 4% higher than 2020. The average annual…
Wise 401k moves to make in 2022
Six wise 401k moves to make in 2022 to boost your retirement saving. Do you have a 401k? These five 401k moves will help you grow your retirement savings and ensure that you take full advantage of your 401k benefits.…
Maximizing Roth savings for high-income earners
Maximizing your Roth savings is a terrific way to save for retirement for both high-income earners and professionals at all levels. Roth IRA is a tax-free retirement savings account that allows you to make after-tax contributions to save towards retirement.…
401k contribution limits 2022
401k contribution limits for 2022 are $20,500 per person. All 401k participants over the age of 50 can add a catch-up contribution of $6,500. What is 401k? 401k plan is a workplace retirement plan where both employees and employers can…
Roth IRA Contribution Limits 2023
The Roth IRA contribution limits for 2023 are $6,500 per person with an additional $1,000 catch-up contribution for people who are 50 or older. There is $500 increase from 2022. Roth IRA income limits for 2023 Roth IRA contribution limits…
Roth IRA Contribution Limits 2022
The Roth IRA contribution limits for 2022 are $6,000 per person with an additional $1,000 catch-up contribution for people who are 50 or older. There is no change from 2021. Roth IRA income limits for 2022 Roth IRA contribution limits…
5 reasons to leave your robo-advisor and work with a real person
Robo-advisors have grown in popularity in the last 10 years, offering easy and inexpensive access to professional investment management with human interaction. Firms like Vanguard, Betterment, Personal Capital, and Wealth Front use online tools and algorithms to build and manage…
Effective Roth Conversion Strategies for Tax-Free Growth
Roth conversion of your tax-deferred retirement savings can be a brilliant move. Learn the must-know rules and tax implications of Roth Conversion before you decide if it is right for you. What is a Roth Conversion? Roth Conversion is the…
New Year Financial Resolutions for 2022
New Year Financial Resolutions for 2022. It’s 2022. You turned a new chapter of your life. Here is an opportunity to make smart financial decisions and change your future. We have our list of ideas that can help you. Here…
5 smart 401k moves to make in 2021
5 smart 401k moves to make in 2021 to boost your retirement saving. Do you have a 401k? These five 401k moves will help you grow your retirement savings and ensure that you take full advantage of your 401k benefits.…
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