Embarking on the journey of retirement signifies a well-deserved break after decades of dedication and toil. Yet, this phase also introduces a unique set of financial intricacies, particularly in the realm of…
Author: Doreen
These Wealth Transfer Hacks Will Make Your Kids Thank You Forever
There is a significant shift of wealth from baby boomers to their children as they seek to provide financial support. As the younger generation accumulates wealth, financial and wealth planning strategies must…
The Power of 401(k)s – How to Build Wealth for Retirement.
The 401(k) plan has emerged as a cornerstone of retirement planning for many Americans. With its tax advantages and potential for employer matching, it’s no wonder that by September 2022, 401(k) plans…
2023 Tax Prep: The Deductible Amounts You Need to Know
When it comes to preparing your federal income tax return, one of the pivotal choices you’ll face is whether to opt for the standard deduction or to itemize your deductions. Both methods…
Think Health Costs Are Your Biggest Retirement Worry? Think Again
Retirement is a phase of life that many look forward to, envisioning it as a period of relaxation and reduced expenses. Recent data indicates that retirement finances may be unpredictable. A study…
Social Security Cost-of-Living Adjustment Just Got a Bump Up for 2024
The 2024 Social Security increase is projected to be 3.2%, up from the previous estimate of 3%, following the government’s announcement of a rise in inflation for August. The annual inflation rate…
Learn How to Maximize Your 401(k) Like a Pro
It can be challenging to reach the maximum contribution limit for a 401(k). but there are ways to achieve this goal. Many individuals prefer 401(k) accounts over IRAs for a specific reason:…
How the Backdoor Roth IRA Can Save You Money In Retirement
The Roth IRA stands out as a premier retirement savings vehicle due to its unique tax advantages: contributions are made with after-tax dollars, allowing investments to grow tax-free, and, crucially, retirement withdrawals…
Applying for Social Security? Here’s What You Need to Know
There are millions of Americans who receive benefits from Social Security. Whether you’re approaching retirement age, have become disabled, or are seeking survivor benefits, understanding how to apply for Social Security can…
Retirees: Here is How To Keep More Money in Your Pocket and Pay Less Taxes
Even in retirement, the specter of federal taxes can loom large, casting a shadow over what should be one’s golden years. This period often envisioned as a time of leisure and financial…
