This month’s topic was inspired by a recent “ah-ha” moment I had while reviewing my phone service plan and that of my parents. What started as a simple check on their plan led me to dig into their other monthly expenses, like cable and wireless bills. As I uncovered several overlooked costs, I realized just […]
If you own a small business and you haven’t set up a retirement savings plan, what are you waiting for? A retirement plan can help you and your employees save on taxes while saving for the future. Tax advantages A retirement plan can have significant tax advantages: Employers with 100 or fewer employees are eligible […]
Election Day is fast approaching, and there seems to be a growing consensus that the presidential election, in particular, could be the most important of our respective lifetimes. There is certainly some justification for this perspective as, unlike most previous U.S. presidential elections, which have traditionally offered a choice between slightly left-of-center and slightly right-of-center, […]
This year, we were thrilled to host our annual Shred Day event, which has quickly become a highly anticipated tradition. A big thank you to all our clients and their guests who joined us for the occasion! With privacy and security at the forefront of everything we do, we wanted to provide our clients and […]
You can, but it isn’t your best option. Your 401(k) plan should be dedicated primarily to your retirement. There are two primary drawbacks to using your 401(k) for college funding. First, if you withdraw funds from your 401(k) before you are 59½, you will owe a 10% premature distribution penalty on the withdrawal. This penalty […]
Another day, another breach. National Public Data, a data broker that sells personal information, was hacked last year but only released details of the event at the end of August. The breach exposed sensitive details like full names, Social Security numbers, mailing addresses, email addresses, and phone numbers. What’s truly alarming is the scale: […]
Did you know that, if you are at least 70½ years old, you can make tax-free charitable donations directly from your IRA? By making what’s called a qualified charitable distribution (QCD), you can benefit your favorite charity while excluding up to $105,000 in 2024 from gross income. These gifts, also known as “charitable IRA rollovers,” […]
Does your idea of an ideal retirement include globetrotting, visiting family, moving to a warmer climate, or something else entirely? As you envision the goals for your golden years, it’s important to make sure you have the financial wherewithal to pursue them. Otherwise, your expectations and reality might not align. In the world of finances, […]
Your retirement lifestyle will depend not only on your assets and investment choices, but also on how quickly you draw down your retirement portfolio. The annual percentage that you take out of your portfolio, whether from returns or the principal itself, is known as your withdrawal rate. Figuring out an appropriate initial withdrawal rate is […]
Why an HSA Should Be on Your Radar for 2025 As we enter the 2025 benefits enrollment period, it’s time to start thinking about your healthcare options for the new year. While many people focus on health insurance plans, there’s one powerful tool that often gets overlooked: the Health Savings Account (HSA). But don’t let […]
