Nationwide Financial

SEPTEMBER 9, 2022

Key Takeaways: National 401(k) Day is celebrated on September 9 to help Americans better understand their retirement plan by bringing awareness to the importance of saving for retirement. 1 Knowing this, National 401(k) Day is a great time to engage clients and discuss their retirement plans.

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Good Financial Cents

MAY 1, 2023

A Contributory IRA, otherwise known as a traditional IRA , is a retirement savings account that allows individuals to make contributions from their earned income. The contribution limit may be reduced or eliminated for individuals who have high incomes or who participate in an employer-sponsored retirement plan.

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Random Roger's Retirement Planning

JANUARY 10, 2024

Every now and then we talk about expat living as part of a retirement plan, usually the context is an underfunded retirement plan. Options trading, mostly covered calls, is one we've talked about a lot lately, expecting it to keep up in years like 2023, 2021 or 2019 is simply the wrong expectation.

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Nationwide Financial

JULY 20, 2022

This year, the ninth annual Nationwide Retirement Institute® Social Security Survey, conducted by The Harris Poll, uncovered how recent concerns around COVID, inflation, and market volatility have changed people’s attitudes or actions around retirement planning and Social Security in particular.

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Walkner Condon Financial Advisors

MARCH 24, 2022

The list is broken up into the appropriate categories of employer-sponsored plans, personal retirement plans, healthcare and spending accounts, and educational accounts. . Employer-Sponsored Plans. 401(k) , 403(b) , and most 457 plans have a new maximum employee contribution limit of $20,500, up from $19,500 in 2021.

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Nationwide Financial

AUGUST 14, 2022

Younger adults, those who have a high school degree or less, and those who identify as African American or Hispanic/Latino were most likely to experience income drops in 2021. Speaking with clients about their savings goals can be a great way to engage them in basic financial planning and help prepare them for unexpected bills.

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Robert B. Ritter Jr.

SEPTEMBER 8, 2021

Did you miss our May 2021 Virtual Symposium? The post Blog #213: Missed our May 2021 Virtual Symposium? The post Blog #213: Missed our May 2021 Virtual Symposium? Don’t worry. Register now for FREE to access the meeting recordings, PowerPoints, and the many resources from our Exhibit Hall Booths.

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Random Roger's Retirement Planning

MAY 3, 2024

One sentiment that popped up a few times was the threat of RMDs kicking people into higher tax brackets. Tax brackets from Nerd Wallet. If taxable income married filing joint is $402,901, you're only paying 32% on the $19,000 that is above $383,901, dollars below $383,901 are taxed at the lower rates. What about a $2.5

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The Chicago Financial Planner

OCTOBER 21, 2021

High deductible health insurance plans . Health insurance plans with an annual deductible of at least $1,4000 for a single person and $2,800 for a family qualify for use with HSAs in 2021, with no change in these limits for 2022. These types of plans are becoming more common with employers and are available privately as well.

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WiserAdvisor

DECEMBER 13, 2023

The answer lies in smart and strategic retirement planning. Gone are the days when retiring at 60 was a one-size-fits-all goal. It’s time to rethink when to start stashing away those savings and how to modify your plan in a world that’s constantly changing. So, how do we tackle this?

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James Hendries

JULY 13, 2023

[i] Private Foundation – A private foundation is created when someone sets up a tax-exempt organization but does not file to be recognized as a public charity. The tax deduction is lower at 20 percent of the taxpayer’s AGI if the gifts are appreciated assets or securities. [ii] A CRT may be partially tax-deductible right away.

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Cordant Wealth Partners

DECEMBER 11, 2020

Today we are going to tell you everything you need to know about the upcoming 2021 changes to the Intel Minimum Pension Plan (MPP). For those employees eligible for Intel’s minimum pension benefit (MPP) at retirement, the interest rate used to calculate today’s value of that benefit is changing.

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Nationwide Financial

JUNE 21, 2023

Over the past several years, retirement investors have had plenty to worry about, from the outbreak of COVID-19 in 2020 to the spread of new coronavirus variants and tenuous trade relations with China in 2021 to the Ukrainian conflict in 2022. Volatility, in turn, often contributes to higher fear and anxiety for retirement investors.

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Discipline Funds

NOVEMBER 17, 2023

A lot of this depends on which market you look at and what time horizon, but the global stock market has generated nowhere near 10% when you account for real factors like inflation, taxes and fees. We live in the real world where we pay for inflation, taxes and fees over time. 3) This is Not an Era of Fiscal Dominance.

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Park Place Financial

MARCH 10, 2022

Reduce Tax Payments. Taxes are inevitable, but the amount you pay each year doesn’t have to be. There are several actions you can take to avoid higher tax rates and retain more money, including: . Distributing tax-smart assets into the different tax categories (taxable, tax-deferred, and tax-free) to limit liability .

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Darrow Wealth Management

AUGUST 8, 2022

Unless a non-spouse beneficiary qualifies for an exception¹, previous guidance stipulated that funds from an inherited 401(k), IRA, 403(b), or other qualified retirement plan (including Roth IRAs) must be taken in 10 years following the year of death. IRS proposes changes to Secure Act inherited IRA RMD rules.

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WiserAdvisor

SEPTEMBER 27, 2023

The 401(k) retirement plan is one of the most powerful tools. This tax-advantaged savings vehicle allows you to accumulate wealth steadily over a lifetime of diligent saving and investing. This was a 9% increase from 2021. If your retirement extends to 25 years, you will spend nearly $1.82

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Carson Wealth

AUGUST 22, 2022

Many investors contribute to an account like an IRA or a 401(k) to take advantage of tax benefits as they save for their retirement. Once you reach a certain age, many types of retirement accounts require you to take a minimum withdrawal each year. How RMDs Are Taxed . What Are RMDs? . 31 each year.

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Carson Wealth

DECEMBER 7, 2022

Some health plans may have high deductibles and require additional resources to be set aside in the event of an emergency. However, these allow employees to contribute to tax-advantaged health care savings accounts (HSAs). Maximize contributions to any available 401(k) plans, take advantage of Roth IRA accounts if you are able.

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Park Place Financial

MARCH 16, 2022

Additionally, our estate planning specialist helps clients prepare for possible life scenarios and manage their money according to their wishes. Income Tax Planning. As HNWIs have higher incomes, they also have increased taxes. However, some financial planners offer strategies to help HNWIs reduce their taxes legally.

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WiserAdvisor

OCTOBER 4, 2022

Retirement planning can be a bit complex. There are multiple factors to weigh in, right from healthcare and inflation to estate planning, business succession planning, tax planning, and more. However, the main drawback to this can be the lack of foresight regarding what and how to plan.

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WiserAdvisor

MAY 30, 2022

Long-term care costs and their influence on individuals and their families’ futures should be prioritized when discussing retirement planning with family and advisors. Making a plan for taxes. Often, individuals do not understand the implication and effect of taxes on their retirement savings and assets.

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Walkner Condon Financial Advisors

APRIL 26, 2024

Whether you are engaged or have recently married, developing a plan to combine finances with your partner can significantly reduce finance-related stress down the road by promoting transparency and simplicity in your relationship. This includes 401(k), 403(b), and 457 accounts as well as others.

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Validea

JULY 26, 2023

From starting your investment to optimizing your tax strategies, each point plays a significant role in making compounding work for you. Being Smart About Taxes Taxes can significantly impact your investment returns. Understanding and strategically managing tax implications is vital to maximizing compounding’s potential.

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Validea

JULY 26, 2023

From starting your investment to optimizing your tax strategies, each point plays a significant role in making compounding work for you. Being Smart About Taxes Taxes can significantly impact your investment returns. Understanding and strategically managing tax implications is vital to maximizing compounding’s potential.

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Random Roger's Retirement Planning

JANUARY 2, 2024

By the end of 2021, would you have been able to stick with it? If you stop the study at year end 2021, Portfolio 1 is lagging by 400 basis points per year. They are not intended to constitute legal, tax, securities or investment advice or a recommended course of action in any given situation.

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Random Roger's Retirement Planning

APRIL 3, 2024

Someone retiring on Dec 31, 2021 being all in on traditional 60/40 had a real problem from an adverse sequence of returns. Someone retiring on Dec 31, 2021 with one of the managed futures-heavy portfolios had no such problem. 90/40 was down 1.56% and Portfolio 3 was up 3.25%.

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Random Roger's Retirement Planning

APRIL 22, 2024

I found a fact sheet from Q2 2021 that had about the same equity exposure but a much greater 13.5% VOLSX outperformed in 2021 and 2023 but fell twice as much as the others in 2022. They are not intended to constitute legal, tax, securities or investment advice or a recommended course of action in any given situation.

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Darrow Wealth Management

OCTOBER 24, 2022

For example, what’s the best time of year to take required minimum distributions, how to reinvest it, or if you can avoid paying tax on RMDs. Here are some of the most common RMD questions and planning opportunities for investors. How to take RMDs and avoid any taxes (legally of course). There are a couple ways to do it.

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Park Place Financial

NOVEMBER 29, 2022

For instance, a trust can decrease your tax liability and protect you from some legal trouble, such as lawsuits. The following are some types of trusts to contemplate when planning your estate: . If assets grow past the interest rate, they will transfer to the beneficiaries without incurring an estate or gift tax.

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Random Roger's Retirement Planning

NOVEMBER 15, 2023

Contributions can be deducted from your income and you can take money out without tax or penalty for qualified medical expenses. At any point in the future, I can take $1500 out of our HSA and set it off against that receipt from early 2021. With the HSA contribution we save $2000 in taxes. I have that receipt.

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Random Roger's Retirement Planning

APRIL 22, 2024

It turned out it did matter starting in late 2021. They are not intended to constitute legal, tax, securities or investment advice or a recommended course of action in any given situation. The risk that I've been concerned about since, apparently, at least 2010 may have never had a consequence beyond a couple of blips along the way.

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Yardley Wealth Management

SEPTEMBER 24, 2021

Keep your taxes low. Taxes matter more than ever. “In what looks to be a low return environment where it seems taxes must go up, investors need to keep more of their investment returns. That means utilizing taxable accounts, tax-efficient and tax-managed equity funds, and tax-free muni funds,” Garry said.

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Random Roger's Retirement Planning

JULY 20, 2023

According to SmartAsset.com, a $600,000 house would have a property tax bill of $6720. So are they really spending $25,680 ex-property tax? Examples of this type of expense include $450 for tax prep, $500 for firewood, $2000 for homeowners insurance and so on. But any tax owed is yet another expense to contend with.

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Cornerstone Financial Advisory

DECEMBER 5, 2022

IRAs Are One Tool In The Retirement Planning Toolbox. There are many tools to use to plan for retirement and an Individual Retirement Account is one of them. Here are some quick facts about both of them: A traditional IRA is a tax-advantaged personal savings plan where contributions may be tax deductible.

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Random Roger's Retirement Planning

FEBRUARY 15, 2024

In this sample, 2021 and 2023, the green line lagged by a lot but I don't think too many people would be bummed by that five year result. They are not intended to constitute legal, tax, securities or investment advice or a recommended course of action in any given situation.

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WiserAdvisor

JANUARY 16, 2024

This data can serve as a baseline for tailoring your retirement plan, taking into account factors such as inflation, your current age, and your desired retirement age. According to the Bureau of Labor Statistics (BLS), the average income for individuals aged 65 and older in 2021 stood at $55,335.

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