There is never a bad time to contribute to your retirement. Before the tax filing deadline in April, many people take advantage of the opportunity to reduce taxes by funding a Traditional IRA. While that makes sense for some, others may benefit by contributing to a Roth IRA that offers no immediate tax break, but […]
Category: Retirement Planning
How much do I need to retire? How should I be funding my retirement? What type of account should I fund first? According to a recent survey, 47% of people polled had less than $25k in retirement savings. The even scarier fact is that 24% said they have less than $1,000! Saving for retirement can […]
A Trip Down to the Social Security Office
For all of our clients who are planning on taking Social Security benefits soon, we encourage you to know the rules of what you are entitled to BEFORE you apply for your retirement benefit. As part of new legislation, only those who were age 66 or older by April 30th were able to employ the […]
Should I convert part or all of my IRA to a Roth IRA?
Let’s first review what you need to know to make this decision. To begin, you need to understand what your current marginal tax bracket is and how the amount of income tax that you pay is calculated by the IRS. The “marginal” tax bracket is your highest tax rate. In other words, each of us […]