7 Habits of Highly Effective People That Want to Retire

This article, last updated in December 2023, is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA.

age-old wooden trunk with treasures

1) Start Early

Do you want to increase your chances of retiring at a reasonable age? Start early. As The Rolling Stones said, “Time Is On My Side.” Well said.  Don’t kick yourself for not starting earlier. You can’t turn the clock back. Just begin where you are now.

2) Live Beneath Your Means

This goes without saying. Which is why it needs to be said. To get to your retirement, you’re going to need to have some assets and income.  Don’t fall into the trap of trying to keep up with the Joneses. Live beneath your means and get to the retirement finish line long before the Joneses.Continue Reading: 7 Habits of Highly Effective People That Want to Retire

3 Proven Reasons You Need a Roth IRA

This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA To be eligible for a Roth IRA you need to have earned income from wages or from self-employment.  Additionally higher income earners are not eligible.  Married couples filing a joint return with a modified adjusted gross income of less than… Continue Reading: 3 Proven Reasons You Need a Roth IRA

When You Should Take Your Required Minimum Distribution Early

This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA Required Minimum Distribution The Internal Revenue Service (“IRS’) requires taxpayers to begin to take their Required Minimum Distribution (“RMD”) from their IRA’s and 401(k) plans by April 1st following the year they turn 73. Failure to take this RMD will… Continue Reading: When You Should Take Your Required Minimum Distribution Early

The Difference Between a Roth IRA and an IRA

This article on savings during retirement is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA The Roth IRA and an IRA both offer different tax advantaged ways to save for retirement. If you are serious about your retirement plan take these 5 Easy Steps to Retirement. Roth IRA In 2021, investors… Continue Reading: The Difference Between a Roth IRA and an IRA

The Difference Between Good Debt and Bad Debt

This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA Good Debt For most folks one of their primary goals is to be Debt Free.  With that said, there will be times when it is appropriate to borrow money. Good Debt is borrowing to purchase a home. If managed appropriately,… Continue Reading: The Difference Between Good Debt and Bad Debt

Why The Affluent (Mostly) Ignore the News

This article, last updated in December 2023, is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA.

business concept vector illustration

There is no shortage of new. Television, radio, newspapers, magazines and of course, the internet. 24/7/365 information is coming at you. Whoever named it the ‘information age’ sure got it right!

Continue Reading: Why The Affluent (Mostly) Ignore the News

No Deposit. No Return.

This article, last updated in December 2023, is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA. What does this mean? If you don’t put something in (deposit) you won’t get something out (return). Isn’t that the truth? This applies whether you want to learn to play the guitar, improve your culinary… Continue Reading: No Deposit. No Return.