When reviewing their investment portfolios, investors frequently focus on the wrong item—the rate of return. Where should you start? You should center your attention on the areas that are under your control. The Amount of Money Saved The amount of money you…
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Tagged with: 401 (k) Plan, 529 Plan, Asset Allocation, Bear Market, Financial Advisor, Income Tax, Income Tax-Free, IRA, Retirement Plan, Stock Market
5 Easy Ways to Plan for the Certainty of Your Financial Uncertainty
Expect the Unexpected Expect the unexpected. When the unexpected happens, there is no do-over. There is no reset button to push. Remember, You Only Get a Mulligan in Golf. You knew that already. So why am I telling you this?…
May The Odds Be Ever In Your Favor
The Hunger Games was a bestselling novel that was subsequently made into a movie. Both were awesome. The setting is one where the Capital is abundant in riches. The outlying 12 Districts are all living in poverty. Every year…
7 Easy Year End Tax Saving Steps for Connecticut Taxpayers
1) Fund a CHET 529 College Savings Plan 529 College Savings Plans are an effective way to save for a child’s or grandchild’s education. The State of Connecticut allows Connecticut Taxpayers to fund a Connecticut Higher Education Trust (“CHET”)…
4 Easy Steps to Stay Retired
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…
Tagged with: 401(K) Plan, 529 College Savings Plan, 529 Plan, Bank of Japan, Budget, Cash Reserve Fund, College, Connecticut, Connecticut Income Tax, CT, ECB, European Central Bank, Fed, Federal Reserve, Federal Reserve Board, Great Reccession 2008-2009, Income Tax, Individual Retirement Account, Interest Rates, Investment Portfolio, IRA, Living Expenses, Medical Bills, Medicare Tax, Money Market Account, Negative Interest Rates, New England, New Hampshire, Portfolio, Rainy Day Fund, Retire, Retirees, Retirement, Retirement Plan, Roth IRA, S & P 500 Index, Savers, Social Security, Social Security Tax, Starbucks, Swiss National Bank, The College Board
The Difference Between a 401(k) plan and a Roth 401(k) plan
401(k) plan The 401(k) plan has become one of the primary retirement vehicles many people will use to help fund their retirement. It is one of the cornerstones in 5 Easy Steps to Retirement. Pre-tax contributions and tax-deferred compounding…
Tagged with: 401 (k) Plan, 401(k) plan employer match, Auto Enrollment, Catch Up Contribution, Congress, Default Investment, Defined Benefit Plan, Earned Income, Enron, Field of Dreams, Great Recession 2008-2009, Income Tax, Inflaton, IRA, Money Market Account, Paycheck, Pension Plan, Pension Reform Act of 2006, Retirement, Retirement Planning, Risk, Roth 401(k) plan, Roth IRA, Stock Market, Tax Deferred Accounts, Tax-Free
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 Investors are allowed to fund…
Tagged with: 401 (k) Plan, 401(k) plan employer match, Beneficary, Beneficiary Designation, Cash Reserve Fund, Financial Plan, Income Tax, Income Tax Deduction, Income Tax Penalty, Inherited IRA, Inherited Roth IRA, IRA, IRS, IRS Form 8606, Required Minimum Distribution, Retirement, Retirement Plan, Retirement Planning, RMD, Roth 401(k) plan, Roth Conversion, Roth IRA, Tax-Free, Wealth Transfer
The Difference Between a Roth IRA Contribution and a Roth Conversion
Roth IRA The Roth IRA (“Roth”) is an excellent tool to help provide for retirement funding. Here are 3 Proven Reasons You Need a Roth IRA. The Roth is a younger investor’s best vehicle to use. Unlike the IRA,…
Tagged with: 401 (k) Plan, 401(k) plan employer match, Adjusted Gross Income, AGI, Beneficiary, BMW, Connecticut, Connecticut Residents, Connecticut Taxpayers, CT, Estate Tax, Income Tax, Income Tax Bracket, Income Tax Rates, Income Tax-Free, Internal Revenue Service, IRA, IRS, Life Expectancy, Married Filing Jointly, Required Minimum Distribution, Retirement, RMD, Roth Conversion, Roth IRA, Tax Bracket, Tax Deferred Accounts, Taxable Estate
7 Reasons Why All Investors Over Age 70 1/2 Should Consider a Qualified Charitable Distribution
Our observation is that many people are very generous with the donations they make. It sure helps that there is likely a tax deduction for this, no question. Many people are accustomed to donating cash, writing a check to…
Tagged with: 401(K) Plan, 501(c)(3), Adjusted Gross Income, AGI, Appreciated Property, Charitable Donation, Charity, Connecticut Estate Tax, Connecticut Income Tax, Connecticut Taxpayers, Estate Tax, Estate Tax Exclusion, Estate Tax Portability, Gift Tax, Income Tax, Investors, IRA, IRS, Itemized Deductions, Medical Expenses, Miscellaneous Itemized Deductions, Mortgage Interest, Non-profit Organization, QCD, Qualified Charitable Distribution, Required Minimum Distribution, RMD, Standard Deduction
