There’s no one right way to save for retirement. There are many possible strategies to help maximize your efforts. One way to save more each year is to contribute to a Roth IRA in addition to an employer’s 401(k) plan. Not only is having both a Roth IRA and a 401(k) allowed by the IRS, … Read more
A backdoor Roth IRA is a loophole that enables wealthier individuals to earn tax-free income. But its complicated. When you purchase through links on our site, we may earn an affiliate commission. Here’s how it works. The Roth IRA is that rare prize in the U.S. Tax code — a way to earn tax-free income. … Read more
Is $1.5 Million Really Enough for Your Dream Retirement? Hey there future retirees! Today I’m tackling that million-dollar question (well actually the one-and-a-half-million-dollar question) that’s probably keeping you up at night Can you retire with $1.5 million comfortably? Let’s face it – retirement planning is confusing as heck. You’ve probably heard all sorts of numbers … Read more
How much does a couple need to retire today here in the UK, and how much does the State Pension contribute toward that aim are both very important questions. If you’re asking how much is State Pension for a couple or how much you and your spouse can receive if you are married and have … Read more
Running a family business comes with unique challenges – especially when considering long-term succession planning and asset protection. One solution that’s gained popularity is placing a business in a family trust. But can a family trust actually run a business effectively? The short answer is yes, but there’s much more you need to understand before … Read more
Did you know that if you had $1 million in dollar bills, it would literally weigh a ton and take you about 12 days to count it all? No matter how you slice it, that’s a lot of money! For a long time, a $1 million nest egg was the measure of retirement planning success. … Read more
Can You Actually Retire on $300,000? Here’s the Truth So you’ve managed to save $300,000 for retirement First off, congrats! That’s no small achievement You’re actually ahead of many Americans. But the big question remains – is it possible to retire with $300k? I get this question from readers all the time, and the answer … Read more
Are you constantly daydreaming about life beyond the office walls? Do you find yourself counting down the days until Friday even on Monday morning? Well, my friend, these might be subtle hints that retirement is beckoning! But how do you really know it’s time to retire? I’ve been researching this question extensively, and let’s face … Read more
A common question I am asked is: What is the difference between having power of attorney and serving as an executor? The difference is literally life and death. The agent serving under your power of attorney only has power and authority to act during your lifetime. Conversely, the executor is a person who is appointed … Read more
Have you ever wondered if everyone gets the same amount of Social Security when they retire? Maybe your coworker mentioned something about everyone getting $5,100 per month at age 70? Or perhaps you’ve heard that benefits are calculated the same for everyone? Well I’ve got news for ya – it’s absolutely not true! Social Security … Read more
