Hi, Im Stan The Annuity Man, Americas Annuity Agent, licensed in all 50 states. Todays video is a little different. A client of mine sent me a Dave Ramsey video and asked for my commentary. I thought, “Why not?”. I want to make one thing clear before we start: Dave Ramsey has done a great … Read more
Usually, getting some extra cash is a reason to celebrate. But could an inheritance or other unexpected windfall stop you from getting government benefits that you depend on? Unfortunately, the answer is “yes.” While receiving an inheritance seems like it should help, not hurt, government program rules can mean extra assets cost you the monthly … Read more
When planning for retirement, understanding how your Roth IRA distributions will be taxed isn’t just about federal taxes. The state you live in can have a significant impact on your retirement income. While Roth IRAs offer tax-free distributions at the federal level, state taxation rules vary widely and can complicate your retirement planning. The Basics: … Read more
You’re not the only one who wants to retire but isn’t sure if their savings will last. One of the questions I get asked most often is if a $4,000 monthly income will be enough to enjoy their golden years. Today, I’m going to answer this question in more detail to help you decide if … Read more
Not sure how taxes work with your Traditional IRA? You’re not the only one. A lot of people who are saving for retirement want to know if their Traditional IRA grows tax-free or what tax breaks they get. So you can understand how your retirement savings are taxed, let’s break it down in simple terms. … Read more
Have you ever wondered if you could put money into both your employer’s 401(k) and your own Roth IRA? The good news is that you can! Not only is it legal, but it could be one of the best things you do in retirement. It surprises me how many people don’t know they can use … Read more
Have you ever wondered what people really mean when they talk about “personal wealth”? Maybe you’ve heard the term thrown around in conversation or seen it in financial articles, but weren’t quite sure what it actually means for your own life. Well, I’m gonna break it all down for you today in simple terms that … Read more
“FIRE” stands for “financial independence, retire early.” This has become one of the most popular phrase among people under 60 in the last ten years. 1 But the truth is that if you want to leave the workforce in the prime of your life, you’ll need to make even bigger investments and cut costs even … Read more
Most people never reach $1 million in savings. Indeed, my clients typically have between a few hundred thousand to a few million in assets. Yet, they manage to retire comfortably. So, with these more realistic levels in mind, let’s see how it looks to retire on $500k. In the end, people who are getting close … Read more
Yes, if you open and put money into an individual retirement account (IRA), you can lower your taxable income and your tax bill. But it depends, first and foremost, on the type of IRA you have. Contributing to a traditional IRA reduces your adjusted-gross income (AGI) for the year, which could put you in a … Read more