IRA Giving After Age 70 ½: How to Make a Qualified Charitable Distribution As a former CPA with over 40 years of experience, our observation is that people are very generous with the donations they make. People typically donate cash, write a check to the charity, or put the donation on their credit card. Now,… Continue Reading: IRA Giving After Age 70 1/2 : How to Make a Qualified Charitable Distribution
Goodbye to the Joneses. 3 Practical Steps to Arrive Financially. The Joneses are everywhere. And boy, do they like to spend money; frequently money they do not even have. Please do not try to compete with them. They will beat you every time. When running out to money or filing for bankruptcy tires them, they… Continue Reading: Goodbye to the Joneses. 3 Practical Steps to Arrive Financially.
Practical Financial Moves for the Second Half of the Year. The first half of the year is in the books. Here are Practical Financial Moves for the Second Half of the Year. As you may recall, at the beginning of the year, we gave you 3 Reasons to Skip the Financial New Years Resolutions This… Continue Reading: Practical Financial Moves for the Second Half of the Year.
With April 15th right around the corner, well its Tax Day. Time to settle with Uncle Sam. If you have state income taxes, you will also have to settle with Cousin Sam. A Brief History of Income Taxes The first modern day income tax in the United States was in 1913 with the passage of… Continue Reading: “I Love Paying Taxes.” Said No One, Ever!
In my opinion, many investors will need to open a Roth IRA for their retirement. Here are 3 reasons why. 1) To Fund Your Retirement Sorry to state the obvious. If you do not realize this already: You are on your own with your retirement. Let that sink in. You (likely) will not be getting… Continue Reading: 3 Easy Reasons to Open a Roth IRA
Investors need to know the difference between tax-deferred and tax-free investing. Tax-Deferred Investing Investors can avail themselves to tax-deferred investing by contributing to their 401(k) plan at work or by funding their IRA. Contributions to these accounts are tax-deferred. The contributions are put in pre-tax. The funds grow tax deferred. When distributions are made from… Continue Reading: The Difference Between Tax-Deferred and Tax-Free Investing
Investors can easily get distracted these days. Hop in the car on the way to work, turn on the radio and get updates on the stock market futures. Check your online portfolio at work during your lunch break. Perhaps you even check it several times a day when you should be working. Stop off after… Continue Reading: 4 Things Every Investor Can Control
This article is original content written by local Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA You have reached the holy grail (for some) and retired. Congratulations! You are in the Land of No Alarm Clocks. Now you can do (almost) whatever you want to do. You’ve worked your whole life to get here. Now… Continue Reading: 4 Easy Steps to Stay Retired
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
This article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA 1) Plan For Your Retirement Sorry for having to state the obvious. You’re not going to get to retire if you don’t plan. This is the price of admission. After all, it is your retirement we are talking about here.… Continue Reading: 5 Easy Steps to Retirement