Category: Retirement Planning

How Can Early Retirees Safeguard Their Nest Egg In A Market Downturn?

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 […]

The Simple 3-Step Medicare Guide

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 […]

Medicare IRMAA: What is It and How Could It Impact Your Retirement?

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 […]

401(k)s for Business Owners & the Self-Employed

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 […]

401(k) Hidden Strategies Used By Smart Investors

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 […]

Can I Retire Now? Considerations for Early Retirement Post-COVID-19

The COVID-19 pandemic has many near retirees re-examining their retirement dates. Here at Wingate Wealth Advisors, we’ve seen an increase in retirement planning services as more clients ask whether they must go back to the office at all post-pandemic, wary of whatever the new normal will be. Whether you have been offered an early retirement […]

When a SIMPLE IRA may be better than a SEP IRA and a Solo 401(k)

In our last post, we reviewed some of the key differences between a SEP IRA and a Solo 401(k) for business owners with no employees (if you have 1099 income from a side gig, this includes you). In some cases, a SIMPLE IRA may be a better option than a SEP IRA and a Solo […]

SEP IRA vs Individual/Solo 401(k)-Which is Right for You?

If you and/or your spouse own a business and you are the only employees, or you have 1099 income and want to maximize your retirement savings, you should consider contributing to a SEP IRA or an Individual/Solo 401(k) Plan. Which plan is right for you? Here are some highlights of each plan. SEP IRA-Simplified Employee […]

Popular Social Security Claiming Strategies Are Being Eliminated

Popular Social Security Claiming Strategies are being eliminated The Bipartisan Budget Act of 2015 included a section titled “Closure of Unintended Loopholes,” which has eliminated the popular Social Security maximization strategies of filing and then immediately suspending social security benefits and filing a restricted application for spousal benefits only. Why would Congress close the loophole?  […]

Social Security: What To Do At 62?

Social Security: What to do at 62? Is 62 your lucky number? If you’re eligible, that’s the earliest age you can start receiving Social Security retirement benefits. If you decide to start collecting benefits before your full retirement age, you’ll have company. According to the Social Security Administration (SSA), approximately 73% of Americans elect to […]