Category: Retirement Planning
Few financial instruments carry as much significance as Inherited Individual Retirement Accounts (IRAs). These accounts passed down from generation to generation have long been essential for legacy planning. However, the SECURE Act has made changes that have reshaped the landscape for those inheriting IRAs after 12/31/2019. These changes affect how beneficiaries access and manage these […]
In retirement planning, one thing is clear – when preparing for the future, there’s no one-size-fits-all solution. This especially applies to high-income earners, who often have more complex financial portfolios and other unique considerations to weigh. For those fortunate enough to enjoy a high income, the stakes are higher, and the choices are more significant. At […]
When contemplating retiring early, your decision-making process starts with a long, hard look at your current financial standings. The more time you plan on spending in retirement, the more savings you’ll need to set aside to cover your lifetime expenses. One expense, in particular, has the potential to put a strain on your retirement budget […]
When, Why, and How to choose a plan that’s right for you (especially if you’re already enrolled). Whether you’re looking into Medicare for the first time, or taking advantage of annual enrollment to update your strategy, we’ve broken down the critical choices you must make into a simple decision-making tool (including the easy-to-understand questions you […]
So much of your retirement preparation focuses on saving money. But, at some point, you need to take that money out, and how you do that is an integral part of your retirement income strategy. The Secure Act 2.0 contained changes that affect your retirement distribution strategy and timeline. We’ve compiled a deep dive into […]
The government is making a wide range of adjustments across the board for the coming year. Changes impactMedicare premiums, Social Security COLA, tax brackets, and retirement plan contribution limits. The changes could mean higher income and tax savings for some next year. Medicare Medicare Part B Premiums have decreased. The base monthly premium for […]
Today, we’re seeing more people retiring early than ever before. Research from the Federal Reserve uncovered that more than 3 million people retired early because of the pandemic and that 2.7 million people over 55 are “contemplating” an earlier exit from the workforce. Given the recent market turbulence, those who started their golden years a […]
Let’s start this post off with a question: Can you pay less for Medicare? Lowering your premiums is no small feat, especially for high-income earners who are subject to Medicare IRMAA. Read on in this article to learn more about “Medicare IRMAA” and how you can take action to potentially decrease its impact on your […]
Entrepreneurs already know that there are plenty of options to create a retirement account. These plans, SEP and SIMPLE IRAs, can be the right answer for some business owners. However, the Solo 401(k) (also known as Solo-k, Uni-k, One-participant k) may allow you to set aside more money for retirement. You have the opportunity to […]
Have you ever seen a GROUNDHOG poking its head out of the ground? What you see is a cute little groundhog poking his head out of his burrow. What you don’t see is the complex web of precisely engineered burrows — hidden from sight. These “hidden strategies” are what allow the groundhog to live a […]