What to Do With Your Required Minimum Distribution

Posted by Don on January 21, 2016

Read any magazine or newspaper or watch any financial television show and you will learn about the importance of saving for retirement, how much you should save, and what type of account to save your money in. But you don’t hear much about what to do when you are required to make a distribution from […]

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2016 Roth 401k and Roth IRA Limits Will Stay the Same

Posted by Madison on December 7, 2015

The 2016 Roth IRA limits and Roth 401k contribution limits will not change. It’s time to start planning your contributions for next year. The 401k limits and IRA limits are determined based on inflation, but can only increase in $500 increments. The 2016 social security wage base will also stay the same. I highlight the […]

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Social Security 2016 Wage Base Will Not Increase

Posted by Madison on December 6, 2015

The 2016 Social Security wage base will not increase. The wage base in 2016 is $118,500. It’s the same as the 2015 Social Security wage base. Until now, the Social Security wage base has increased in each of the last four years. What is a Tax Wage Base? Social security taxes, (or OASDI taxes) are […]

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2015-2016 401k and IRA Limits

Posted by Madison on

The 2016 IRA limits and 401k contribution limits will not change. It’s time to start planning your contributions for next year. The 401k limits and IRA limits are determined based on inflation, but can only increase in $500 increments. The 2016 social security wage base will also stay the same. These are the limits for […]

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Many people put off saving for retirement just because it is so far away. They think they will have time to start saving in 5 or 10 years. After all, 30 years into the future is long time away. Others put off saving for retirement because they are in debt. They have been told that […]

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How to Make Early Roth IRA Withdrawals

Posted by Madison on May 27, 2015

The ability to use early Roth IRA withdrawals is an integral part of any early retirement plan. Roth IRAs allow for much more flexibility when it comes to early withdrawals than a traditional IRA. We’ve integrated the option to use retirement funds since I left my corporate job many years ago. Now that my husband […]

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Roth IRA Conversion Strategy to Avoid Taxes

Posted by Madison on May 12, 2015

If you have money in a traditional IRA and want to take advantage of a Roth conversion, you need to know about the pro-rata tax treatment of conversions. If you have both tax deferred and after tax money in a traditional IRA, you could face hefty taxes on the deductible IRA money, since you must […]

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Quitting the Rat Race at Age 39

Posted by Madison on March 24, 2015

My husband’s office at the university is closing this fall. While he was offered another position (with a raise!), he turned it down and he’s taking this opportunity to finally quit the rat race. He will be 39. Congratulations Scott! Later this year, my husband is finally joining me on a new adventure. Just like […]

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5 Steps to Figure Out a Successful Retirement Plan

Posted by Don on March 23, 2015

The topic of retirement comes up all of the time on the news, in the newspapers and magazines and in personal finance blogs. With so many different people talking about retirement, it not only gets confusing, it can also get overwhelming. Luckily, I am here to help. I will give you the guide to making […]

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Take Advantage of Retirement Catch-Up Contributions

Posted by Jill on February 19, 2015

If you’re over 50 and diligent about retirement savings, you may be maxing out both your 401k and traditional or Roth IRA. But to really supercharge your savings and make sure you are extra-prepared for retirement, you should also take advantage of catch up contributions. Catch-up contributions are special provisions that allow you to contribute […]

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