Are you interested in seeing where you stand when it comes to retirement? Do you want to see if you are on track or falling behind? Try a retirement calculator to help you answer these questions. In years past, to get access to powerful retirement calculators, you had to hire a financial planner who would […]

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Social Security 2017 Wage Base Increase

Posted by Madison on April 12, 2017

The 2017 Social Security wage base increased by $8,700. The wage base in 2017 is $127,200. The 2016 Social Security wage base was $118,500. The Social Security wage base has increased in four of the last five years. What is a Tax Wage Base? Social security taxes, (or OASDI taxes) are the taxes that are […]

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2017 Roth 401k and Roth IRA Limits Will Stay the Same

Posted by Madison on March 16, 2017

The 2017 Roth IRA limits and Roth 401k contribution limits will not change again this year. It’s time to start planning your contributions. The 401k limits and IRA limits are determined based on inflation, but can only increase in $500 increments. However, the 2017 social security wage base increased by $8,700. I highlight the Roth […]

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Should You Reverse Your Roth IRA Conversion?

Posted by Jill on March 10, 2016

When you file your tax forms, you report contributions to an IRA or Roth IRA. You also report completed conversions (and corresponding tax liability) from one type of account to another. Finally, you can use your tax forms to reverse your Roth IRA conversion by recharacterizing your Roth IRA back to a Traditional IRA. Income […]

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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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2016-2017 401k and IRA Limits

Posted by Madison on December 6, 2015

The 2017 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. However, the 2017 social security wage base increased by $8,700. These are the limits for the […]

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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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