Advisor Perspectives

SEPTEMBER 12, 2024

Determining the age when retirement account owners need to begin taking distributions is key for heirs to understand how to implement the 10-year rule for inherited accounts. Bill Cass explains what beneficiaries need to know.

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Accounting Retirement Distribution 52

Carson Wealth

OCTOBER 24, 2024

Retiring abroad can be a dream come true for many Americans, offering the opportunity to explore new cultures, enjoy different climates, and potentially stretch retirement savings. Taxes One of the biggest financial considerations for Americans retiring abroad is understanding how taxes will work. tax return every year.

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Retirement Healthcare Taxes Medical 142

Carson Wealth

JUNE 2, 2023

by Jake Anderson, Paraplanner Retirement accounts like 401(k)s and IRAs allow individuals to save for their future in a tax advantaged manner. IRA and 401(k) contributions are often tax deductible and gains are tax deferred – meaning you may only pay taxes when you withdraw money from your account.

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Distribution Accounting Retirement Retirement Planning 98

Tobias Financial

AUGUST 7, 2024

The IRS has recently issued new regulations clarifying the rules for required minimum distributions (RMDs) from inherited retirement accounts. If an account owner fails to withdraw the full amount of the RMD by the due date, the owner is subject to an excise tax equal to 25% of the amount not withdrawn.

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Accounting Retirement Distribution Compliance 52

MainStreet Financial Planning

OCTOBER 24, 2024

One powerful but often overlooked tool is the Health Savings Account (HSA). Whether you’re new to HSAs or looking to optimize your existing one, this guide will break down everything you need to know about these tax-advantaged accounts. What is an HSA? – $8,300 for families.

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Accounting Medical Healthcare Taxes 88

Integrity Financial Planning

JANUARY 9, 2023

2] With higher prices in consumer goods, retirees may have had to reevaluate their withdrawals and spending on retirement accounts as their income became strained. In that case, it may be essential to review your financial position as these changes possibly affected how you cater to your short and longer-term retirement needs.

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Accounting Retirement Economics Financial Planning 97

Mullooly Asset Management

OCTOBER 25, 2022

If you save money into a retirement account, like a 401(k), 457 or 403(b), you will be able to contribute more in 2023. The IRS announced a new contribution limit of $22,500 for these accounts starting next year. That is an increase of $2,000 from the 2022 limit of $20,500. This is important for workers […].

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Accounting Retirement 96

Integrity Financial Planning

MAY 16, 2023

In most cases, you can’t actually keep your money in your retirement accounts forever. Even if you don’t need the money from your retirement accounts, many of them will require you to begin withdrawing from them when you are 73 years old. [1] 4] So why can’t you just leave your money in your account?

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Accounting Retirement Retirement Planning Taxes 88

Nerd's Eye View

MAY 15, 2024

On April 25, 2024, the Department of Labor (DoL) issued the final version of its Retirement Security Rule (the "Final Rule"), which imposes an ERISA fiduciary standard "that applies uniformly to all investments that retirement investors may make with respect to their retirement accounts ".

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Retirement Commission Banking Financial Advising 246

Carson Wealth

MARCH 7, 2024

By Jake Anderson, CFP ® , Wealth Planner When helping clients begin retirement planning, the same questions often arise: What should my retirement plan look like? Your lifestyle, goals, family situation, and risk tolerance will give a unique signature to your retirement plan. How much should I be saving?

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Retirement Planning Retirement Planning Risk Tolerance 143

The Chicago Financial Planner

NOVEMBER 27, 2022

One of the best tax deductions for a small business owner is funding a retirement plan. Beyond any tax deduction you are saving for your own retirement. You deserve a comfortable retirement. If you don’t plan for your own retirement who will? Two popular small business retirement plans are the SEP-IRA and Solo 401(k).

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Retirement Planning Retirement Planning Financial Planner 263

Integrity Financial Planning

OCTOBER 17, 2022

Optimizing your retirement savings takes more than just making sure your IRA isn’t at risk in this market. Know these 3 ages that can help you get the most out of your retirement accounts. Age 59½ is the earliest you can withdraw funds from an IRA account and pay no early withdrawal penalty tax. 1] Smart Asset.

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Retirement Accounting Retirement Planning Distribution 95

Nerd's Eye View

SEPTEMBER 20, 2023

30 years ago, when financial plans relied mainly on constant investment return projections derived from straight-line appreciation and time-value of money calculations, financial advisors began acknowledging and accounting for the variable and uncertain nature of investment returns.

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Retirement Planning Financial Planning Risk Tolerance 235

Carson Wealth

MARCH 28, 2024

Retirement planning is a journey that generally takes decades to complete and most of us start out along the do-it-yourself path. More than likely, your first step was to enroll in an employer-provided plan such as a 401(k) or setting up an individual retirement account, also known as an IRA. Maybe you have a growing family.

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Retirement Planning Retirement Planning Taxes 141

Abnormal Returns

OCTOBER 2, 2024

(humansvsretirement.com) How to Retire Sammy Azzouz talks with Christine Benz author of "How to Retire Successfully: There’s More to it Than Money." thebostonadvisor.com) A Q&A with Christine Benz about her book "How to Retire: 20 Lessons for a Happy, Successful, and Wealthy Retirement." Less than you think.

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Retirement Risk Management Accounting Insurance 275

Nerd's Eye View

APRIL 24, 2024

Over the past few decades, advicers have used Monte Carlo analysis tools to communicate to clients if their assets and planned level of spending were sufficient for them to realize their goals while (critically) not running out of money in retirement.

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Communication Retirement Clients Accounting 229

Carson Wealth

OCTOBER 3, 2024

Retirement is an exciting milestone—a time to leave behind the hustle and bustle of work and embrace a new chapter filled with more freedom and opportunities to enjoy life. Planning well in advance ensures that your retirement years will be financially secure, fulfilling, and less stressful than your working years.

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Retirement Healthcare Retirement Planning Taxes 95

Financial Symmetry

OCTOBER 2, 2023

It’s true, that retirement account mistakes can be costly. On this episode, we’ll explore the options you have, the … Continued The post Should I Roll Over My Retirement Account to an IRA? When it comes to the question of rolling over a 401K or 403B to an IRA, many people fear making mistakes.

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Accounting Retirement 64

Carson Wealth

JULY 7, 2022

Once upon a time, people would put money in their 401(k) or IRA accounts and know that – should their retirement savings outlive them – their loved ones would inherit the rest and all would essentially be well. . How Did the SECURE Act Affect Inherited Retirement Accounts? Convert the Accounts to a Roth IRA.

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Accounting Retirement Distribution Taxes 98

Advisor Perspectives

JULY 12, 2024

Act introduced new ways this year to avoid a 10% early withdrawal penalty from retirement accounts. Provisions in the SECURE 2.0 Our Bill Cass explains the implications for savers.

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Accounting Retirement 40

MainStreet Financial Planning

FEBRUARY 22, 2024

Managing cash flow in retirement is a crucial aspect of financial planning that can feel daunting after decades of receiving regular paychecks. Expense Evaluation : Next, list all outgoing expenses, accounting for both fixed and variable costs. This income-related monthly adjusted amount (IRMAA) will kick in 2 years post retirement.

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Retirement Management Taxes Financial Planning 80

Random Roger's Retirement Planning

APRIL 2, 2024

Northwestern Mutual published a report about the state of retirement and of course all the numbers are grim. million to retire, up about 50% from 2020, while the average retirement account balance is $88,000. I've been pushing back on the idea of have a number, a retirement number, for a very long time.

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Retirement Taxes Numbers Accounting 94

The Chicago Financial Planner

JANUARY 17, 2022

Annuities are often touted as the “cure” for all that ails your retirement. In a fixed annuity, the insurance company agrees to pay you no less than a specified rate of interest during the time that your account is growing. An annuity can offer diversification in your retirement income stream.

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Retirement Insurance Financial Planner Taxes 185

WiserAdvisor

SEPTEMBER 6, 2023

Overindulgence in information can lead to poor decisions, and excessive monitoring of your retirement account balance can result in stress. Checking your retirement account balance too often can have a psychological impact on you. When should you check your retirement account balance?

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Accounting Retirement Retirement Planning Asset Allocation 52

Clever Girl Finance

FEBRUARY 2, 2024

Starting early with investing for retirement is so important to secure your future self. This means that saving for retirement should be a component of your overall financial portfolio and wealth-building strategy. So, let’s discuss how to save for retirement in your 20s! How do I start putting money away for retirement?

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Retirement Accounting Taxes Risk Tolerance 89

Talon Wealth

OCTOBER 26, 2023

Retirement planning can be intimidating, especially if you need help figuring out where to start. Determine When to Start Saving When it comes to saving for retirement, earlier is almost always better. Create a Budget Creating a budget allows you to track your expenses and ensure you’re saving enough for retirement.

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Retirement Retirement Planning Budgeting Taxes 98

Integrity Financial Planning

JULY 17, 2023

How you handle taxes and when you are taxed are two of the most important factors when it comes to retirement planning. This type of account can be useful for some because when you withdraw under qualifying circumstances, you do not pay taxes.

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Retirement Taxes Retirement Planning Accounting 97

Carson Wealth

JUNE 27, 2024

1 With ever-increasing life expectancies, it’s no wonder 63% of American adults say they’re more afraid of running out of money in retirement than they are of death. 2 That’s why it’s vitally important to consider longevity risk when you’re planning for your financial needs in retirement. What Is Longevity Risk?

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Retirement Budgeting Healthcare Risk Tolerance 97

Abnormal Returns

AUGUST 14, 2024

(nytimes.com) Retirement Six myths in retirement including 'You don't need a financial advisor.' morningstar.com) When should people near retirement de-risk their portfolio? wsj.com) A first hand account of retirement. ft.com) What should you do with your 401(k) account when you leave your employer?

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Tax Planning Retirement Financial Advisor Education 279

Nationwide Financial

JANUARY 26, 2023

Key Takeaways: 2023 could be a really good year to fund a Roth account because of low tax rates and changes to how the standard deduction, tax brackets, and retirement account contribution limits are adjusted for inflation. Plus, you’ll be increasing your tax diversification for retirement.

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Accounting Retirement Taxes Retirement Planning 98

Advisor Perspectives

NOVEMBER 12, 2024

Retirement plan savers looking to mitigate the risk of higher taxes in the future may benefit from making after-tax contributions to employer plans, which may be transferred to Roth accounts. Our Bill Cass details a “mega backdoor” Roth strategy.

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Taxes Tax Planning Retirement Planning 52

Abnormal Returns

NOVEMBER 20, 2024

(sites.libsyn.com) Frazer Rice talks with Christine Benz author of "How to Retire" (podcasts.apple.com) Carl Richards talks money and more with journalist Kara Swisher. 50fires.com) Retirement Gray divorce can have a huge effect on your retirement. nytimes.com) Taxes in retirement only get more complicated.

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Estate Planning Retirement Marketing Marketing 146

A Wealth of Common Sense

JANUARY 4, 2024

Nick Sapienza joined me on the show this week to go over questions about inflation, concentrated stock positions, investing in strategies with amplified volatility, and which retirement accounts are the most important savings vehicles. They claimed it was good.

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Retirement Accounting Planning Investing 110

Talon Wealth

OCTOBER 26, 2023

Retirement planning is a critical part of financial security that many women still overlook. However, remember that as a woman, you have a longer life expectancy than a man, which means retirement planning is even more important. That means you should plan for your retirement savings to last at least 18 years, if not more.

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Retirement Planning Retirement Planning Medical 98

WiserAdvisor

MARCH 13, 2024

Achieving financial freedom in retirement requires meticulous planning, dedicated effort, and strategic management. Within this framework, the concept of the five pillars of retirement planning emerges as a valuable strategy. Without a solid plan, you risk drifting without direction.

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Retirement Planning Retirement Planning Estate Planning 105

Integrity Financial Planning

NOVEMBER 7, 2023

There are many important birthdays when it comes to retirement planning. So, as you approach your retirement, it’s crucial to have a few of these in mind as key milestones. 1] IRA holders can contribute $7,500 a year to their accounts. [1] 1] IRA holders can contribute $7,500 a year to their accounts. [1]

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Retirement Planning Retirement Planning Accounting 91

WiserAdvisor

MARCH 9, 2023

The Individual Retirement Account (IRA) is an equally popular investment vehicle. trillion in assets at the end of 2021’s third quarter, representing 35% of the total retirement market. A financial advisor can help you understand these and choose a suitable account for your needs. IRAs had nearly $13.2

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Accounting Retirement Distribution Taxes 52