Can you move a 529 plan to Roth IRA? Yes, you can! Congress included a provision in SECURE 2.0 that allows for rollovers of unused 529 funds to Roth IRAs. Under the old tax rules, if funds in a section 529 plan are not used for education, the earnings are taxable and subject to a […]
Continue reading
Tax-savvy withdrawals in retirement are often overlooked or ignored by investors. That’s bad news when the Required Minimum Distribution (RMD) comes along and OUCH! As individuals approach retirement or if they’re already retired, one of the key concerns is ensuring a stable and tax-efficient income stream during their golden years. While saving diligently for retirement […]
Continue reading
High income earners may face limitations when contributing to a Roth IRA due to income restrictions. However, there are several strategies they can employ to maximize the benefits of a Roth IRA or find alternative ways to achieve tax-efficient retirement savings. Keep in mind that tax laws may change, so it’s essential to consult with […]
Continue reading
As the year draws to a close, individuals and businesses alike are turning their attention to year-end tax planning. The landscape of tax laws and regulations is constantly evolving, and staying informed is crucial for optimizing financial strategies. In 2023, several key considerations and opportunities emerge for individuals and businesses to make informed decisions that […]
Continue reading
Traditionally, the main 2 concerns pre-retirees have are… Can I Retire? Will I Run Out of Money? However, according to a recent survey by HSBC, “Retirement Reinvented”, It’s Inflation. Yes, inflation tops retirement concerns here in the US. Planning for retirement has always been a crucial financial goal for individuals, and it remains important across […]
Continue reading
I’ve heard that investors would rather have a root canal with ZERO Novocain versus speaking to an advisor about Life Insurance. So, here is a great educational video on Tips for Reviewing Your Life Insurance Policy. Click on Image. If you need guidance about your own life insurance policies or want a second opinion please […]
Continue reading
Do you have a 401k account from a former employer, kind of invested, you think, and still being charged FEES? Yes, your old 401k account is not free and you’re being charged fees. So, the question is…. If you would like a no obligation, second opinion on your old 401k account, please email us at […]
Continue reading
According to WISER, The Women’s Institute for a Secure Retirement, half of women over 25 say they have trouble saving for retirement. When planning for retirement, we don’t want to “fall short.” To make sure, we must account for a multitude of factors: 1. How much income do I need? 2. How long will I […]
Continue reading
Account Preservation for the Next Generations A trusteed IRA combines the tax benefits of a traditional IRA with the control and preservation benefits of a trust. How Is a Trusteed IRA Different from a Typical Custodial IRA? While traditional custodial IRAs and trusteed IRAs are treated identically for tax purposes during your life, the trusteed […]
Continue reading
I know what you’re thinking. Awesome! A conversation about Life Insurance my favorite subject! Ok, maybe not that much enthusiasm, however, if that Cash Value Life Insurance could be used for… Income-tax-free death benefit to protect heirs at death, replacing lost income Tax-deferred growth of policy cash values over lifetime Tax-free distributions from the policy […]
Continue reading
