“Whoa! How much am I going to have to pay?” These were the words of a client I recently met with, who is approaching retirement age and had questions about Required Minimum Distributions (RMDs). She had heard about them but wasn’t sure exactly what they meant or how they would impact her financially. Looking at…
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“Don’t do that. That’s the worst way to do it.” What was I talking about? Charitable giving. My client was writing checks to his church directly from his personal account. Admirable, but he was doing it with after-tax income when he had several better options available. These alternatives would benefit the church just as much…
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I’ve heard it said that Uncle Sam has a tall hat so he can collect more when he holds it out. Bad dad joke, I know. Still, when it comes to retirement income, a lot of people I speak with loathe having to pay taxes. Everybody is okay paying their fair share, but nobody wants…
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Many retirees plan to use a 401k to create income. Asking how to avoid paying taxes on 401k withdrawals is a great question. Here are some ways you can avoid or defer taxes on a 401k withdrawal.
Retiring with $2 million is a great goal to strive for. While it’s certainly a good amount of money, how far it will go depends on a few things.
When you’re approaching retirement and thinking about retirement planning, how much money you have is a crucial factor. A plan to retire with $5 million directly impacts the type of retirement you can have and how you should think about achieving it.
How are 401k withdrawals taxed? It’s a common question but without a simple answer. A basic understanding of some of the factors can help.
Knowing what to do when inheriting a 401k doesn’t have to add stress to what is often a difficult situation. A few easy steps can help.
Planning to retire with a pension and 401k brings some complexities. Create a solid financial retirement plan by thinking about these five key things.
Have a championship financial season every year by building a winning financial team. A few key players can help you stay on top of your financial game.
