Category: Uncategorized
Should I Contribute To My Roth 401(k)?
Roth 401(k)s have become an increasingly popular alternative to traditional 401(k)s, allowing participants to make after-tax salary deferrals to their employer plans. Many people may have the opportunity to contribute to a designated Roth account in their 401(k), but are uncertain about the best savings strategy for their personal circumstances. What is a Roth 401(k)? […]
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What Issues Should I Consider When Buying a Home?
Buying a home is one of the biggest financial moves that you will ever make. There are a number of issues that you should be aware of, including how the costs of purchasing and owning a home will impact your overall financial planning goals. In this checklist, we cover a number of financial issues that […]
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How Much Should I Be Saving for Retirement?
When it comes to saving for retirement, experts recommend saving 10% to 15% of your income every month, but you can calculate a more personalized goal by following four simple steps. As a rule of thumb, most experts recommend an annual retirement savings goal of 10% to 15% of your pretax income. High earners generally […]
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What Issues Should I Consider When Starting Out Financially?
Many of my clients are parents who are raising children entering adulthood. While parenting is not a core focus area in financial advisory services, we are uniquely situated to provide valuable support by helping teach children to become responsible when starting out financially. Financial literacy is fundamental to financial independence and prudence. However, financial topics […]
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Do I Need to Start Making Estimated Federal Income Tax Payments?
Income tax planning is critical to your financial success. Navigating our complicated federal pay-as-you go income tax system can be difficult. Adding further complexity, you must understand and adapt to changes in tax laws and in your personal circumstances. In each tax year, it is important to ensure that you are properly paying your federal […]
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5 Extremely Easy Ways to Save Money in 2021
Everyone wants to save money, but when it comes to actually saving money, few people do the things required to put themselves in a position for financial peace of mind. Here are five extremely easy ways to save money in 2021. 1. ASK FOR A DISCOUNT At some point, we’ve all heard our parents say […]
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Minimize Your Taxes: Harvesting Capital Gains or Roth Conversations
People often have outsized positions due to appreciation and large pre-tax retirement accounts. You may be looking to reduce portfolio risk and protect gains now, while also aiming to reduce their future income tax burden. Roth conversions and harvesting capital gains are two effective financial strategies that can achieve these goals; however, they accelerate income […]
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How Reliable is Social Security?
Americans love making light of the government. Whether that’s joking about the IRS or slow mail delivery from the Post Office. Social Security is also an easy punching bag, “No way I’m going to get my Social Security the way things are going!” is a common jab. But sitting behind joking statements like this lies […]
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How Will President Biden’s Tax Plan Effect Me?
The Biden administration plans to release a new round of tax law changes based on the agenda detailed during his campaign. While we are yet to fully understand the implications of this law change involving Biden’s tax plan, his control of Congress makes his plan ever more likely. This plan focuses on increasing credits for […]
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What Does Annuitization Mean and Should I do it?
Contrary to what many people think, annuities and annuitization are not the same, and confusing them can cause BIG problems for your retirement plan. WHAT IS AN ANNUITY? An annuity is a financial product. Technically, an annuity represents a contract made between the insurance company and the person who bought the annuity. When you purchase […]
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