Retirement
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Posted on September 3, 2024 by Dan Pascone
Introduction to Retirement Planning and Tax Diversification
Retirement planning is a critical aspect of financial management that can often seem overwhelming. However, its importance cannot be overstated. Proper planning ensures that your golden years are not only comfortable but also financially secure. One of the key components of an effective retirement strategy is tax diversification. Understanding how different types of retirement accounts […]
Posted on July 23, 2024 by Dan Pascone
Maximizing Employer-Sponsored Retirement Plan Contributions
With benefits like immediate tax relief today and employer matches, employer-sponsored retirement plans, like 401(k)s, can be a relatively passive method of saving to a comfortable, secure retirement. However, genuinely harnessing their power requires understanding their history nuances and how to leverage them among your other tax-advantaged accounts. A Brief History of Employer-Sponsored Retirement Accounts […]
Posted on July 16, 2024 by Dan Pascone
Rolling Over Your 401(k): Best Practices for Managing Retirement Accounts
Managing your 401(k) might seem like a small fish in a big sea of decisions while considering job changes, but it’s actually a whale of a task. A 401(k) rollover involves transferring funds from your current 401(k) plan to a new 401(k) plan or an IRA. The IRS allows you sixty days from the date […]
Posted on June 18, 2024 by Dan Pascone
Life Insurance Retirement Plans: Turning LIRPs into Powerful Retirement Tools
Let’s face it: when most people think of either life insurance or retirement planning, “exciting” isn’t the first word that comes to mind. But when those terms are combined into a “Life Insurance Retirement Plan,” the mundane concept turns into a crafty strategy that could give you access to sizable loans you might not even […]
Posted on June 3, 2024 by Dan Pascone
Your Guide to Different Retirement Accounts: Achieving Tax Diversification
For many, retirement planning is the financial equivalent of how toddlers view eating their vegetables. You know it’s good for you, but it’s not exactly what you’d call a thrilling activity– unless, of course, you’re a financial planner. Our enthusiasm for retirement planning is baked into our personal definitions of retirement. Do we view retirement […]
Posted on April 16, 2024 by Dan Pascone
Breaking Down the Mega Backdoor Roth: A Tax-Saving Strategy for High Earners
Welcome to the incredibly nuanced world of retirement planning, where the Roth IRA tends to reign supreme for its tax-free withdrawals in the golden years. Why a Roth? You contribute after-tax money to a Roth. Your contributions grow tax-free, and your withdrawals are tax-free as well. However, there’s a catch for the high flyers: income […]
Posted on April 9, 2024 by Dan Pascone
All About the Backdoor Roth IRA
Backdoor Roth IRAs stand out as a sophisticated strategy for high-income folks who are otherwise unable to contribute directly to a Roth IRA due to income limits. For instance, people’s ability to make direct Roth IRA contributions phases out at $153,000 Modified Adjusted Gross Income (MAGI) or $228,000 for married couples filing jointly. The Backdoor […]
Posted on April 1, 2024 by Dan Pascone
3 Ways to Access Retirement Funds Early
There are multiple reasons you might want your retirement account money early: starting a family, an investment opportunity, or even just eyeing an early retirement. Tax-advantaged accounts can be an exceptionally great way to grow your nest egg with the stock market, but accessing your funds before hitting the typical retirement age comes with fees, […]