Retirement

Too many people wait until near the end of the year to consider key IRA actions and strategies. Your after-tax wealth is likely to increase when you plan the IRA strategies early in the year. Here are some key steps most people should consider. Donate via a QCD. A qualified charitable distribution (QCD) is the

The Open Enrollment Period (OEP), a time for making changes to Medicare Part D drug coverage, ended on December 7. Heading into the OEP, there was considerable excitement because the Inflation Reduction Act (IRA) was going to save seniors millions of dollars. But how did that play out in real time? As I do every

As we approach April 15, let’s discuss the federal taxation of your Social Security benefits. The Social Security Administration estimates that 40% of recipients pay income tax on their benefits. The taxable benefits include retirement and spousal, survivor, and disability (SSDI) benefits. Keep in mind that if you have a child receiving benefits under their

In response to the current inflationary environment, the Internal Revenue Service announced a modest increase in the maximum contribution limits for 401(k)s and Individual Retirement Accounts for 2024. This year, 401(k) savers can contribute a maximum of $23,000, marking an increase of over 2% from the $22,500 limit set for 2023. The new contribution limit,

The most important part of your estate plan isn’t about taxes, investments, gifts, or other financial issues. The priority of every estate plan, for people of every age, is the medical care documents. These documents should be completed even if you’re still considering other issues in the plan. This critical part of the estate plan