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
In the United States, 60% of couples in a second or subsequent marriage have at least one child from a prior relationship. In 2008 one-third of people divorcing were actually re-divorcing (divorcing again). In blended families, it is important to make sure the children from your first marriage are not unintentionally disinherited. To make sure … Read more
If you dont properly protect your assets, they can potentially be lost in a lawsuit, bankruptcy, or to other creditor actions. Its important to understand the laws that can provide asset protection and to know what measures you can take to protect your savings. Have you ever worried about losing everything you’ve worked for? I … Read more
If youre looking for information about a loved ones estate, you may be able to look up their Will. Learn how to look up a Will in probate. Do you want to find the Will of a friend or a loved one who passed away? It might not be as difficult as you think to … Read more
Ever wished that you wouldn’t have any debt when you got old? I’m sorry to burst your bubble, but the truth may surprise you. After years of researching how to fund retirement, I’ve learned some shocking facts about how much debt the average retiree actually has. Let’s talk about the tough truth about American retirement … Read more