Deciding when to collect Social Security benefits is a big decision that can have a lasting impact on your standard of living in retirement, especially if you didn’t save enough on your own. According to the Social Security Administration, Social Security benefits represent 30% of retirement income for the elderly. Making this decision is a […] READ MORE
Want to put money into a Roth IRA but earn too much? Use the “backdoor” Roth IRA strategy. Unlike traditional IRAs, Roth IRAs have an income threshold. The ability to make a direct contribution to a Roth IRA phases out for single filers with an adjusted gross income between $125,000 and $140,000, for 2021. […] READ MORE
About a third of all Americans think that they will not have enough money saved to retire. Carefully planned and executed retirement strategies will get you there — it’s possible to even retire early. Start executing these early retirement strategies today, you’ll be glad you did: 1. Determine the amount of money […] READ MORE
Surviving a Layoff: Take Control of Your 401(k) Corporate Downsizing Getting laid off is never easy, you’re faced with having to rethink your spending… right away! Think about your essentials first and then what you’ll need in order to get back on track. Eliminating unnecessary spending will help you formulate your game plan and […] READ MORE
Take advantage of this tax-advantaged account to stretch your savings. I’ve received quite a few questions recently about how Roth IRAs work, so I figured it would be helpful to put several questions and answers together as an all-in-one Roth IRA guide. Contribution limits Everything I read about preparing for retirement says to “save like […] READ MORE