Retirement Plan

Early Retirement

EARLY RETIREMENT? 10 STEPS TO GET YOU THERE! When it comes to retirement, there is always a thought in the back of your mind saying, “how can I get there earlier?” Though some plan for traditional retirement, there is a vast majority that would love nothing more than to retire early to fully enjoy their golden years. With the right planning, that goal is achievable. There are 10 steps you … Read more

Planning For Succession and Retirement

PLANNING FOR SUCCESSION AND RETIREMENT Success and Retirement Plan For Your Business: Business owners are in a unique position when it comes to retirement. Not only do they need to save up for the years ahead. They also have to create the building blocks for a succession plan. Although it may be tricky, you can put both wheels into motion by deciding on these things: The date you want to retire. … Read more

Why you should make catch up contributions before year-end

If you reply “yes” to any of the questions above, then read on to see how making catch-up contributions by the end of 2018 can benefit you. What are catch up contributions? In short, to define catch-up contributions. They are additional payments made beyond the regular yearly limits that can be made to specific retirement accounts. Their purpose is to assist taxpayers to who were not able to save a considerable amount … Read more

Retirement planning: Why you should consider state and local taxes

It is common to hear friends moving out of state when they are talking about retiring. Mainly due to taxes. Before you plan on moving to Florida or another state to retire, make sure that you are factoring in state and local taxes into your decision. Different tax to consider Choosing a state that does not tax on personal income alone may appear to be the best option. However, that … Read more

Retirement savings opportunity for the self-employed

Did you know that if you’re self-employed you may be able to set up a retirement plan that allows you to contribute much more than you can contribute to an IRA or even an employer-sponsored 401(k)? There’s still time to set up such a plan for 2017, and it generally isn’t hard to do. So whether you’re a “full-time” independent contractor or you’re employed but earn some self-employment income on … Read more

There’s still time to set up a retirement plan for 2016

Saving for retirement can be tough if you’re putting most of your money and time into operating a small business. However, many retirement plans aren’t difficult to set up and it’s important to start saving so you can enjoy a comfortable future. So if you haven’t already set up a tax-advantaged plan, consider doing so this year. Note: If you have employees, they generally must be allowed to participate in … Read more

Tax-smart options for your old retirement plan when you change jobs

There’s a lot to think about when you change jobs, and it’s easy for a 401(k) or other employer-sponsored retirement plan to get lost in the shuffle. But to keep building tax-deferred savings, it’s important to make an informed decision about your old plan. First and foremost, don’t take a lump-sum distribution from your old employer’s retirement plan. It generally will be taxable and, if you’re under age 59½, subject … Read more