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Health Savings Accounts – The Other Retirement Plan

The Chicago Financial Planner

Health savings accounts (HSA) provide another vehicle to save for retirement. Many of you have the option to enroll in high-deductible insurance plans that allow the use of a health savings account via your employer. HSA accounts can only be used in conjunction with a high-deductible health insurance plan.

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Small Business Retirement Plans – SEP-IRA vs. Solo 401(k)

The Chicago Financial Planner

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? For the Solo 401(k) you will generally use a prototype plan.

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Your Retirement Planning Starter Pack

Carson Wealth

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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6 Signs It’s Time to Ditch DIY Retirement Planning

Carson Wealth

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.

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Social Security Fairness Act: Planning Considerations For The Repeal Of The Windfall Elimination Provision (WEP) And Government Pension Offset (GPO)

Nerd's Eye View

For most people, Social Security benefits are calculated using a single formula, which takes into account the individual's history of earning income on which they paid Social Security tax. This lack of clarity made retirement planning significantly more challenging.

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SECURE Act 2.0: Later RMDs, 529-to-Roth Rollovers, And Other Tax Planning Opportunities

Nerd's Eye View

The Setting Every Community Up for Retirement Enhancement (SECURE) Act, passed in December 2019, brought a wide range of changes to the retirement planning landscape, from the death of the ‘stretch’ IRA to raising the age for Required Minimum Distributions (RMDs) to 72. In addition, SECURE 2.0

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SECURE Act 2.0: Later RMDs, 529-to-Roth-Rollovers, And Other Tax Planning Opportunities

Nerd's Eye View

The Setting Every Community Up for Retirement Enhancement (SECURE) Act, passed in December 2019, brought a wide range of changes to the retirement planning landscape, from the death of the ‘stretch’ IRA to raising the age for Required Minimum Distributions (RMDs) to 72. In addition, SECURE 2.0