Still working? Before another pay check goes by, make sure to bump up your 401(k) contributions to reflect higher 2022 contribution limits. Putting more into your 401(k) helps get you ready for retirement and cuts what you owe to the IRS (and who doesn’t like that!). Depending on the type of plan you are offered […]
Archive | Retirement RSS feed for this section
How To Minimize Taxes On Those Retirement Distributions
Once you turn 72, you need to start withdrawing money from your retirement accounts. When that time comes, do you know the secrets to managing and actually cutting your retirement tax bill down to size? We do, so we were thrilled to share tax trimming tips with veteran report Sandra Block as she put together […]
CNN Business: Will Congress Kill The Backdoor Roth IRA?
You may have heard that some folks in Congress are threatening to squash the so-called ‘Backdoor Roth IRA,’ as the legislature debates passage of the Build Back Better bill, a multi-trillion dollar social welfare and spending proposal. What exactly is the Backdoor Roth IRA? For a quick overview, check out our recent blog story about Backdoor […]
Act Now To Increase Your Retirement Contributions For 2022
If you are still working, you should act now to increase your retirement contributions for 2022. Contributing to your accounts can provide you with valuable tax deductions, cut your ultimate tax bill, and help stormproof your future retirement nest egg by providing a cushion for uncertain times. The IRS just released the new contribution limits […]
Considering A Move To A Retirement Community?
A shout out to one of our very astute clients for recommending a great consumer guide for people who may be considering a move to a retirement community. It’s called the Consumer’s Guide to Continuing Care Retirement Communities, and it’s issued by the National Continuing Care Residents Association. That’s a non-profit organization of residents and prospective residents of […]
White House Tax And Spending Bill Takes Final Shape
Big sigh of relief! The White House has just released the $1.75 trillion framework for its social and climate-related Build Back Better plan and clients will be relieved to hear that, as of now, it does not contain the disruptive tax, retirement or estate tax measures that they may have been fearing. One caveat. Let’s […]
Quote Of The Week: Don’t Rush To Claim Social Security Out Of Fear
“At a time when more Americans rely on Social Security than at any other time in the program’s 86-year history, political brinkmanship and alarmist headlines are undermining public faith in the nation’s bedrock retirement system. Those concerns are tempting some people to grab their benefits as soon as they can.” “But claiming Social Security benefits early out […]
Roth Conversions and Back Door Roths: What To Know Before It’s Too Late
The headlines are scary. Are Roth conversions going away? Should you rush to convert now before it’s too late? Is this the end of backdoor Roths? And what is a backdoor Roth anyway? In all fairness, the headlines are confusing and are running a few steps ahead of reality. Keep in mind that, when it […]
Top 10 Best Places to Retire In 2021
As long-time Florida residents, we may not be the most objective, but we believe that the Sunshine State offers many great places to settle down and spend some time. No surprise, then, that U.S. News & World Report squeezed 8 Florida locales into its top 10 listing of Best Places to Retire. The list is […]
Ask Mari: Will Switching To Part-Time Work Hurt My Social Security Benefits?
One of our clients asked a great question that other day as we met to discuss retirement plans with her and her husband. At age 60, she is not yet old enough to start claiming her Social Security benefits (that starts at age 62). But she wanted to know if switching from full-time to part-time […]
About Mari Adam, CFP®
Mari Adam, Certified Financial Planner™ has helped hundreds of individuals and families build wealth and plan for a more secure financial future for over 30 years. Her advice has appeared in publications such as Wall Street Journal, Kiplinger’s, Money Magazine, Business Week, and CBS MarketWatch.
