The SECURE Act’s Impact on IRAs and Roth IRAs
The SECURE Act’s Impact on IRAs and Roth IRAs The passage of the Setting Every Community Up for Retirement Enhancement (SECURE) Act in 2019 changed several aspects of retirement accounts and plans. The law, which went into effect on Jan. 1, 2020, consists of 29 provisions that deal with several aspects of retirement savings plans and accounts including Required Minimum Distributions (RMDs) and inherited IRAs. This discussion will focus on the […]
2020 Tax Saving Strategies
2020 Tax Savings Strategies With the start of a new year and the 2020 tax season, let’s revisit some tax-saving strategies that can help you save on your taxes this year. Below are some tax tips that will be useful whether you are trying to maximize your refund or minimize what you owe. Contribute to […]
Financial New Year’s Resolutions for 2020
Financial New Year’s Resolutions for 2020 Making New Year’s resolutions is a great way to plan to be better in the new year. Unfortunately, sticking with those resolutions isn’t as easy as setting them. Whatever is on your list for the upcoming year, whether it is to get in shape, spend more time with family […]
Should I Take My Pension as a Lump Sum or an Annuity?
Should I take My Pension as a Lump Sum or an Annuity? You are getting ready to retire, and you have a defined benefit pension that will kick in once you stop working. You may have the option of taking the pension in the form of a one-time lump sum distribution or as lifetime monthly […]
Kickstart Your Freshman’s Financial Education
Kickstart Your Freshman’s Financial Education First Semester For A Freshman is Full of ChallengesHelp Your Graduate Avoid Financial Stress by Teaching Them Sound Money-Management Habits
Understanding the Required Minimum Distribution
Understanding the Required Minimum Distribution In an effort to encourage workers to save for retirement, the United States government allows individuals to save part of their income tax-deferred into retirement accounts. Workers do not have to pay taxes on these funds or on the investment gains until the money is withdrawn from the account as […]
Discussing the In-Service Rollover
Discussing the In-Service Rollover Jump to In-Service Rollover FAQs A 401(k) plan is a great vehicle for employees to save for retirement. The money invested into this employer-sponsored qualified retirement plan is saved pre-tax and grows on a tax-deferred basis. Taxes on this deferred income are not paid until the money is withdrawn from the […]
The Do’s and Don’ts of Retirement Planning
Retirement is one of the most important life stages a person will go through, and with people living longer (1), the need to properly plan for retirement is critical. This can be a daunting undertaking. Let’s look at some key points that can get you on the right track to planning a successful retirement.
4 Ways to Lower Your Tax Bill
4 Ways to Lower Your Tax Bill With the start of a new year, we look forward to the arrival of spring and sunnier days, but January also marks the beginning of the often dreaded tax season. While some of us get excited for a long-awaited tax refund, many stress over getting their taxes filed […]
Combating Stress at Work Through Financial Wellness
Combating Stress at Work Through Financial Wellness Dealing with personal finances can be stressful, and that stress can have a negative impact on several aspects of a person’s life including personal relationships, physical health and performance on the job. A 2015 survey by the American Psychological Association found money was the top source of stress […]
