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Every year, taxpayers leave money on the table. They don’t mean to, but as a result of oversight, they miss some great chances for federal income tax deductions. While the IRS has occasionally fixed taxpayer mistakes in the past for taxpayer benefit, you can’t count on such benevolence. As a reminder, here are some potential […]
Financially, many of us associate April with taxes – but we should also associate April with important IRA deadlines. *April 1 is the absolute deadline to take your first Required Mandatory Distribution (RMD) from your traditional IRA(s). *April 15 is the deadline for making annual contributions to a traditional or Roth IRA. Let’s discuss the […]
When you turn 50, retirement starts to seem less abstract. In terms of retirement planning, a 50th birthday can act as a wake-up call. It may offer a powerful reminder to trailing-edge baby boomers and Gen Xers, many of whom are wrapping up their second act with inadequate retirement savings for their third. You may […]
As every calendar year ends, the window slowly closes on a set of financial opportunities. Here are several you might want to explore before 2015 arrives: Don’t forget that IRA RMD. If you own one or more traditional IRAs, you have to take your annual required minimum distribution (RMD) from one or more of those […]
If your loved ones have invested, saved or insured themselves to any degree, you may be named as a beneficiary to one or more of their accounts, policies or assets in the event of their passing. While we all hope “that day” never comes, we do need to know what to do financially if and […]
One of the most commonly asked Roth IRA questions is: “Should I make a Roth conversion?” While Roth conversions can make sense at any age, depending on your particular circumstances, generally speaking, the younger you are, the more it makes sense. Converting at a young age gives you the longest amount of time to let […]
Location, location, location. It matters when it comes to real estate, and it also matters when it comes to the way you hold and invest your retirement savings. You can’t control what happens with the tax code, but you can control how your savings are held. As various types of investments are taxed at varying rates, […]
Financially, many of us associate April with taxes – but we should also associate April with important IRA deadlines. Here is what you need to know for 2014: *April 1 is the absolute deadline to take an initial IRA Required Mandatory Distribution (RMD). *April 15 is the deadline for making annual contributions to a traditional […]
Predicting the future is not an easy task, particularly in a world that’s begun changing more and more rapidly with every passing day. Unfortunately a lot of people on all sides of retirement find themselves having to do this very thing, having to try and figure out what directions the world will be taking them in […]
When you take the time to ponder your retirement picture, how much do you see and how well-focused is the image? A comprehensive retirement plan is, in a manner of speaking, a picture of your future — a future in which an alarm clock won’t likely figure very prominently, if at all, since you’ll no […]