by Adam Oerther, CFP® One employee benefit companies often use to attract and retain talent in the workforce is access to a retirement plan, such as a 401(k), 403(b), or SIMPLE IRA plan. These types of plans allow you to make pre-tax contributions, which not only lower your taxable income for the year but also …
by Adam Oerther, CFP® While the definition of “rich” is different for everyone, just about all lifestyles require money. Being able to sustain these lifestyles without having a recurring income (i.e. a salary), particularly during your retirement years, requires an accumulation of resources from which you can fund the activities you need and want to …
by Sean Guldi, CFP® It is all over the news – Congress and the Trump administration are busy attempting to enact a large-scale overhaul of the tax code. Uncertainty abounds with respect to the details, and there is still a chance the overhaul does not make its way through both the House and the Senate …
No matter your political leanings, paying taxes is a fact of life and an integral part of modern society. However, the federal government recognizes many different tax-advantaged strategies that lower your tax bill when the time to file comes around each year. This article will focus on a few of the more popular of these …
by Sean Guldi, CFP® According to the Pew Research Center, over the next 15 years roughly 10,000 Baby Boomers turn age 65 every day. This may not mean retirement for all of them, but the largest demographic cohort in our country will be a driving force that increases the need for Retirement Planning. Many of …
Continue reading “Retirement Planning: Is There a Magic Number or Formula?”
On January 21st, a collaborative effort was made by John Murphy of B&C Financial Advisors and George Koury of George Koury & Associates to help seminar attendees better understand their benefit options in regards to Social Security and Medicare. They discussed as people approach retirement, it is important for them to understand their government provided …
Many people may know Congress recently passed a Federal Budget Agreement, which was largely supported by the President in order to increase the debt ceiling. What many people may not be aware of, however, is there were changes in the agreement that closed several loopholes within Social Security that previously allowed people to increase their …
Continue reading “A Big Change Just Happened With Social Security and No One Said a Thing”
We all think about what we want for ourselves in retirement, in our careers, or even where we want to live. There are many things one can do to help get themselves there; however, many of us do not know where to start. This is why everyone needs a financial plan. Whether planning how long …
Many people think having a financial plan is only for the wealthy; however, wealth is not defined by dollars alone.
The first question someone might ask is, what is an RMD? An RMD is an annual distribution from an IRA (Individual Retirement Account) that is required by the IRS.