Retirement Planning

3 Practical Reasons for Your Coming Social Security Haircut

Here are 3 Practical Reasons for your coming Social Security haircut. Short History of Social Security The government formed the Social Security System in 1935. Monthly benefits began in 1940. As part of President Franklin Delano Roosevelt’s New Deal during the Great Depression, this initiative aimed to provide economic relief and reform. In 1950, a… Continue Reading: 3 Practical Reasons for Your Coming Social Security Haircut

Practical Steps to Fund a Backdoor Roth IRA Conversion

Determine Roth IRA Eligibility Investors with earned income may be able to contribute to a Roth IRA. For 2025, the maximum Roth IRA contribution is $7,000. If you are aged 50 or older, you can make an additional $1,000 catchup contribution. For 2026, the maximum Roth IRA contribution is $7,500. And in 2026 for those… Continue Reading: Practical Steps to Fund a Backdoor Roth IRA Conversion

Everyone Knows You Need to Diet and Exercise

Diet and exercise, that’s what my doctor tells me after my annual physical exam: Every. Single. Time.  When I press her on this, she offers a deeper insight – something like “portion control.”  Seriously? Who would have thought? It sounds incredibly straightforward. But is it really that easy to put into practice? It may be… Continue Reading: Everyone Knows You Need to Diet and Exercise

3 Simple Reasons to Avoid Private Equity in Your 401(k)

Here are 3 simple reasons to avoid private equity in your 401(k). Private equity is all the rage now. I should clarify that. It is all the rage about having private equity offered to all the Average Joe’s through their 401(k) plans at work. Wait, what? Yes, it is possible you may be given the… Continue Reading: 3 Simple Reasons to Avoid Private Equity in Your 401(k)

Practical Reasons for a Partial, Annual Roth IRA Conversions

Here are Practical Reasons for Partial, Annual Roth IRA Conversions. We have already highlighted to you IRA versus Roth IRA. What You Need to Know. Now we want to discuss why some investors should consider partial, annual Roth IRA conversions. A Roth Conversion A Roth conversion is when funds are distributed from a Traditional Individual… Continue Reading: Practical Reasons for a Partial, Annual Roth IRA Conversions

CNBC Quotes Tom About Maximizing Your Tax Bracket

Local Raymond James Financial Advisor Thomas F. Scanlon, CFP, CPA of Manchester, CT quoted by CNBC.com on November 25, 2022. 3 lesser-known ways to trim your 2022 tax bill or boost your refund before year-end PUBLISHED FRI, NOV 25 202212:19 PM EST BY KATE DORE FOR CNBC After nearly a year of high inflation, rising… Continue Reading: CNBC Quotes Tom About Maximizing Your Tax Bracket

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

4 Easy Steps to Retirement

This retirement article is original content written by Manchester, CT Financial Advisor Thomas Scanlon, CFP®, CPA. Ah, retirement, it appears to be on a lot of folks minds.  No wonder.  There are 10,000 people A DAY turning 65 in the U.S. Repeat, A DAY. 1) That’s a ton of people finally putting out and heading… Continue Reading: 4 Easy Steps to Retirement

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