You are probably familiar with health savings accounts (HSAs), which can be used to cover certain healthcare costs with pre-tax dollars. To contribute to an HSA, you must be enrolled in an HSA-eligible plan, also known as a High Deductible Health Plan (HDHP). These plans typically have lower monthly premiums but require you to cover […]
Category Archives: Retirement
17
Dec
Dec
When the calendar turns to 2025, there will be some substantially higher catch up contributions (part of SECURE 2.0) that were signed into law by President Biden in 2022 to enhance retirement savings options. Here are the details you need to know. Increased 401(k) Contribution Limits for 2025 Starting in 2025, the maximum 401(k) contribution […]
Financial Planning, Retirement, Taxes
Make Too Much to Fund a Roth IRA? These Three Strategies Could Help You!
11
Nov
Nov
Taxes drive a lot of our personal finance and many everyday decisions. Strategies to minimize taxes, both now and in retirement, drive many investing decisions as well. One potential way to minimize taxes in retirement is by investing in a Roth IRA. With a Roth IRA, the account is funded with after-tax dollars by making […]
Financial Planning, Retirement, Taxes
Roth IRAs Have Some Significant Benefits. Here’s How They Could Help You.
12
Oct
Oct
You’ve probably heard of a Roth IRA — it’s a retirement account that you can contribute to with after-tax dollars. Though there is no up-front tax break, dividends, interest, and capital gains are tax-free as your account grows. When you make a qualifying withdrawal after you retire (or at age 59 ½), you don’t have […]
13
Mar
Mar
There are many reasons why people who could retire are hesitant to do so. Some people think they need to wait until they’re 65 or older. Some are worried about running out of money. Many parents want to keep supporting their children through some major life transition, like college, marriage, or buying a first home. […]
14
Jan
Jan
What kind of retirement do you think you’ll have? Qualitatively speaking, what if the success or failure of your retirement begins with your perception of retirement? A whole field of study has emerged on the psychology of saving, spending, and investing: behavioral finance. Since retirement saving is a behavior (and since other behaviors influence it), […]
11
Oct
Oct
What is the retirement outlook for the average fifty-something working woman? As a generalization, less sunny than that of a man in her age group. Most middle-class retirees get their income from three sources. An influential 2016 National Institute on Retirement Security study called them the “three-legged stool” of retirement. Social Security provides some of […]