Investing in a 401(k) plan may frustrate those who like to pick stocks. Employers may only offer a limited range of benefits, and most people can’t take money out of their 401(k) accounts before they turn 59½ without being charged a penalty. People can avoid 401(k) restrictions by picking stocks and managing their own portfolios, … Read more
The Simple Answer: Yes, LGPS is Definitely a Funded Scheme! If you’ve been wondering whether the Local Government Pension Scheme (LGPS) is a funded scheme I can give you a straightforward answer – YES, it absolutely is. But what does this actually mean for you as a member or potential member? Let’s dive into the … Read more
In general, file and prepare the final individual income tax return of a deceased person the same way you would if the person were alive. Report all income up to the date of death and claim all eligible credits and deductions. If the deceased had not filed individual income tax returns for the years prior … Read more
You changed your traditional IRA to a Roth IRA, but now you’re not sure if you should have done it. The tax bill may have been bigger than you thought, or your finances may have changed. You’re probably wondering: can a Roth conversion be recharacterized?. I’ve helped many clients navigate this exact situation, and the … Read more
How much does one need to retire in Australia? There’s no mortgage, no work-related costs and fewer child costs…But then there’s greater travel, more frequent outings, and inevitable ageing costs. Thinking about retirement keeps me up at night sometimes. Will I have enough? Am I saving enough? What’s normal anyway? If you’re wondering how your … Read more
Dreaming of saying goodbye to the 9-to-5 grind a whole decade and a half before traditional retirement age? You’re not alone! Early retirement at 50 is becoming an increasingly popular goal for many Americans who want to reclaim their time and enjoy life while they’re still young enough to make the most of it But … Read more
Using tax avoidance strategies to transfer wealth is a smart way to keep your legacy and heirs from having to pay too much in taxes. Still, it requires careful planning and oversight to ensure techniques don’t cross the line to tax evasion. What is the benefit of assessing your tax options? Determining the best way … Read more
It can be really hard to figure out tax stuff, especially when it comes to retirement accounts like Roth IRAs. People always ask me if Roth IRA distributions need to be reported on tax returns. In short, it depends on the kind of distribution. Allow me to explain it in simple terms so you fully … Read more
Your retirement savings may already be well on their way if you have automatic deposits into a 401(k) account. But that’s not your only retirement account option. An individual retirement account (IRA) offers a unique way to save for the future. You can choose a traditional IRA, a Roth IRA or work with both. If … Read more
James joined Citizens Securities Inc. founded in 2022 and is in charge of selecting and managing the ETFs, mutual funds, and portfolio models made with these investment products. As a strategic partner, he has over 30 years of experience in financial markets focused on a broad array of public and private equity and fixed income … Read more