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 … Read more

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, … Read more

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 72. Failure to take this RMD will … Read more

Why The Affluent (Mostly) Ignore the News

This article 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!

 

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No Deposit. No Return.

This article 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 skills or learn how to … Read more

The Difference Between a Roth IRA and an IRA

  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 2019, investors are allowed to fund a Roth IRA up to $6,000 per year. Additionally investors age 50 and … Read more

Greek Drama Plays Out on Global Stage

  The second quarter ended with all eyes on Greece after the country failed to reach an agreement with its creditors. The impasse resulted in shuttered banks and imposed capital controls, at least until a July 5 referendum on whether to accept further austerity measures in exchange for a European bailout. The Mediterranean country also … Read more

7 Habits of Highly Effective People That Want to Retire

This article 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.

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