Roth IRA

How Much Should I Be Saving? 3.0

How Much Should I Be Saving? 3.0

In Step 2, we calculated that we need $151,713 per year from our portfolio to be “financially independent.” NIC NOTE:  I define “financially independent” as the ability to no longer needing to earn income from a job.  You might choose to work because you love it, but...

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How Much Should I Be Saving? 2.0

How Much Should I Be Saving? 2.0

After you are comfortable with the assumptions of the variables (tax, inflation, rate of return), we will turn our attention to calculating how much money we will need to be withdrawing from our portfolio. For example, if somebody needs $7k/month or $84k/year to feel...

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How Much Should I Be Saving? 1.0

How Much Should I Be Saving? 1.0

The first step before calculating how much you should be saving to reach financial independence is getting comfortable with 3 incredibly large variables that are assumptions in the planning process that must be monitored: Tax Rate – what do we think our tax rate will...

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The Big Drop is Coming..

The Big Drop is Coming..

Yes, the big drop is coming, but the big drop is always coming! There is no reason to try to guess when the big drop is coming.“More money has been lost anticipating the correction than the correction itself.” – Peter Lynch What can I do to prepare for the “Big Drop?”...

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Prepare for the Dip: Roth Conversion

Prepare for the Dip: Roth Conversion

From time to time the entire market has substantial drops. On average since WWII, the S&P 500 has had a 40% drop from peak to trough roughly every 5 years. We have no idea when these drops will come and trying to time them is futile. I would propose you have a...

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After Tax 401(k) vs. Roth IRA

After Tax 401(k) vs. Roth IRA

Be careful of accumulating funds in an after-tax 401k IF you can facilitate a “direct rollover” to a Roth IRA. Consider this example: This year, you contribute $10k to an “After-Tax 401k” and it grows to $11k at the end of the year.  At the end of the year, you might...

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Roth For Kids

Roth For Kids

Most people do not realize that your children can have Roth IRAs as minors. A custodian (parent, grandparent, etc.) will be appointed until the children reach the age of majority (usually 18 or 21). 100% of earned income can be contributed to the Roth IRA up to $6,000...

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Avoid Temptation

Avoid Temptation

I had a conversation with a middle-aged man who had not yet reached the magical age of 59 ½ who was making about $200k per year. He had a good financial plan.  By all accounts, he was on track. He decided that he wanted to purchase a nice condo.  He had good credit....

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graphic 10 actions to take

10 Actions To Take 10 Years Before Retirement

In this paper we discuss 10 actions you should take to develop and deploy a successful long-term wealth plan. It will help you make decisions about your financial journey today and well into your retirement chapter.

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