Tag: Retirement

End of the Year Planning Considerations

October 25, 2021
Finance

It’s hard to believe we are quickly approaching the end of the year. As we head into the holiday season and work (hopefully) begins slowing down, here are some end of the year planning considerations. This list is of course not exhaustive, but these are some of the major planning items to review...

The Backdoor (Roth) Might Be Closing

October 13, 2021
Finance

The Roth IRA can be a great way to hedge against rising taxes in retirement. One of the best aspects of a Roth IRA (or Roth money set aside in a 401(k) or other employer sponsored retirement plan) is that the distributions are completely tax-free in retirement as long as certain requirements are met. You...

Funding the Cost of College

September 21, 2021
Uncategorized

It’s no surprise that college tuition is undeniably expensive by most measurements and it’s not getting any cheaper. Communicating the reality of the cost of college requires a candid conversation with your children. Start planting the seeds to have that candid college discussion with your children...

5 Retirement Savings Tips for Millennials

July 29, 2021
Finance

Younger generations are dealing with challenging economic realities when it comes to saving for retirement. A good percentage of those in the gen z and millennial generation are graduating with student loan debt and dealing with a hot housing market all while trying to manage a budget on stagnant...

5 Smart Ways To Use Your Monthly Child Tax Credit

July 12, 2021
Finance

ICYMI the IRS is rolling out Advance Child Tax Credit Payments starting on July 15th. Normally, If you have any qualifying children under the age of 18, you would be able to potentially claim the annual Child Tax Credit when you file your taxes. This year, unless you decide to opt out, the IRS will...

Traditional vs. Roth 401(k) Contributions

July 6, 2021
Finance

The different ways you can save for retirement is staggering. On top of that you need to decide what type of contribution to elect into your account (traditional, Roth, post-tax, pre-tax, etc.) Many people in the corporate or private sector have access to a 401(k) plan. This provides employees a tax-advantaged...

The ABCs of Employer Sponsored Retirement Plans

June 24, 2021
Finance

Retirement plans offered through your job come in all shapes and sizes. Understanding the details can almost feel like learning a foreign language. With all the IRS codes and lingo, the world of employer sponsored retirement plans resembles alphabet soup, especially if you’re unfamiliar with...

The 5 Biggest Mistakes Millennials Make with Money

July 17, 2020
Uncategorized

Our generation is notorious for not being so financially savvy. It’s up to us to change the game. So, what can we learn from the 5 biggest mistakes millennials make with money? Not having a budget Despite all the easily accessible apps for budgeting and tracking expenses, millennials are still...

Decoding the SEP-IRA

June 19, 2020
Finance

By Mack Bekeza, CFP® With millions of small business owners in the United States, one of the most significant problems they face is how do they plan for retirement for themselves and their families while growing and maintaining their small businesses. On top of that, how can they incentivize their...

The Basics of the Traditional IRA

May 29, 2020
Finance

By Mack Bekeza, CFP® Hopefully, you enjoyed my piece on Roth IRAs, but what about Traditional IRAs? Don’t people ask me about those too? Well yes, they do! For those who earn too much to contribute to a Roth IRA, you may want to consider the Traditional IRA (or just IRA) What is a Traditional IRA? Established...