We will all hopefully have some sort of Social Security benefit at some point. Understanding how those benefits work and how Social Security works in general is a pivotal component of proper retirement planning.
As a financial advisor, part of my job is working with clients to try and help minimize and mitigate the tax ramifications associated with their decisions. One of the most important is making tax-efficient withdrawals from their retirement funds.
There are three main ideas involved with tax-efficient withdrawals from retirement funds.
If you’re in your late 50s and looking to start making the transition to retirement, following the suggestions in this case study is a great start.
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.
Thinking about retirement? It’s important to look at the financial aspect but you also need to understand how to know if you’re mentally ready to retire. Here’s how to evaluate your retirement plan for maximum happiness.
Planning to retire is both exciting and overwhelming. You feel ready, but how do you know when God wants you to retire?
Use these five key things to help you determine whether your desire to retire is your timing or God’s.
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.
Planning to retire with a pension and 401k brings some complexities. Create a solid financial retirement plan by thinking about these five key things.
