In this video we break down the important things to know if you’re considering converting to a Roth IRA. Keep in mind, we are in a historically low tax rate. Paying your taxes now will allow your money to grow tax free, and any future withdrawals will not be taxed. Also, to help manage your tax Learn More
Congress recently passed SECURE Act 2.0, which will bring several changes to retirement account rules. In this video we break down the big takeaways, including:*RMD Age Increase*RMD Penalties*QCD Changes*529 PlansKeep in mind, when you delay those Required Minimum Distributions, it will lead to larger account balances at death, which could create a significant tax burden Learn More
Can You Make a Deductible IRA Contribution For 2022? It depends on several things including whether you or your spouse have earned income, whether you’ve contributed to a Roth IRA, and whether you or your spouse have access to a company sponsored retirement plan. If you do have access to a company sponsored retirement plan like Learn More
How much can you contribute to a Traditional IRA for 2022? It depends on your age, whether you have already contributed to a Roth IRA, and whether you or your spouse have earned income or not. It’s also important to note that just because you can contribute to a Traditional IRA that does no necessarily mean Learn More
Many have concerns as to whether Social Security will be there for them when they retire. Social Security certainly has it it’s financial challenges. According to the 2022 Trustees Report they are projecting that they will be able to pay promised retirement and survivor benefits until 2034. They estimate at that point the trust fund will be depleted and they would only be able to pay 77 cents on the dollar.
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In this video we will talk about some of the important changes to know for Social Security in 2023. The cost of living adjustment (COLA) is 8.7%. The maximum taxable earnings for payroll taxes is going up, and so are the retirement earnings test exempt amounts. Full Transcript: Social Security has announced changes for the year 2023. Learn More
Many people can actually afford to retire that don’t think they can. Others think they need to work much longer than they actually to or need to save up a lot more money than they actually need.Life is short. Do you work at a job that you really don’t like or are burnt out and Learn More
When you withdraw money from a deferred annuity you will pay a surrender charge on the amount that you withdraw that is more than the free withdrawal amount. Many deferred annuities such as fixed annuities and fixed annuities allow you to withdraw 10% per year without penalty. Some allow you to withdraw the money if Learn More
Should you buy an annuity to help provide the income you need in retirement? In this video I will share an actual case study and we will look at the pros and cons of either buying or not buying an annuity.Full Transcript: How’s it going everybody, it’s Ryan here. Okay, so today we’re going to take Learn More
It’s important to be aware of how how volatility could affect your investments and your retirement. When evaluating investments many people just consider the average rate of return. However, the volatility of investments is also very important.In this video I show hypothetical examples of how volatility could affect you in your working years when you Learn More