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In: Retirement, Retirement Income, Taxes

Tax Planning – The Time to Plan is Now Tax planning is not deferring taxes in an IRA. We’ve all heard the old adage, “People don’t plan to fail, they fail to plan.” In the case of your IRA or qualified plan, last minute contributions could be setting you up to actually pay more taxes. If you’e pondering the thought of a last minute contribution, just ask yourself these questions… 1. Do you want to live a similar lifestyle in retirement as you have today? 2. Do you think taxes will go up or down in the future? 3. What tax bracket will you be inRead More →

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Retirement Income Options Protect and Maximize Your Cash-Flow Retirement income options are available to anyone who chooses to seek knowledge and plan ahead. Your options for how you distribute your retirement income are mostly up to you. It all starts with where you choose to store your money. We can’t control government rules such as taxes, but we can control how we save for the future, which will have a tremendous impact when distribute the income. Assuming that you have accumulated a nest egg for retirement, you will then have choices for the distribution of that income. Traditional retirement planning suggests that you defer taxes forRead More →

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In: debt, Finance, Financial Planning, Retirement

Myra Roth Wants Your Money Promises Tax Benefits and Safety Myra Roth, the government’s new retirement account, launched nationwide this past Wednesday. myRA is her given name and she wants you to invest your hard earned money with her. She is of no kin to Ira or Betsy, and I do have my suspicions about her. Disclaimer: This blog was written with satire and is not intended as investment or tax advice. As I write this blog, our country is celebrating Veteran’s Day, and we are broke. A great number of the population are retired and/or unemployed. So, I find it ironic that our government suddenlyRead More →