Take Note of the Distinctive Features of a Roth IRA

For certain individuals, Roth IRAs can offer income and estate tax benefits that are preferable to those offered by traditional IRAs. However, it’s important to take note of just what the distinctive features of a Roth IRA are before making the choice. Traditional vs. Roth The biggest difference between traditional and Roth IRAs is how […]

Update on New Retirement Account Catch-Up Contribution Rules

The Setting Every Community Up for Retirement Enhancement (SECURE) Act brought numerous changes to the retirement and estate planning landscape in late 2019. Congress followed up with the SECURE 2.0 Act in late 2022. This law introduced some additional taxpayer-friendly changes, including an increase in the limits for retirement account catch-up contributions for individuals who […]

SEPs vs. SIMPLE IRAs: Smart Retirement Plan Options for the Newly Self-Employed

Are you new to self-employment? Working for yourself doesn’t mean you must forego tax-advantaged retirement savings. In addition to contributing to a traditional IRA, there are two basic retirement plan options that may make sense for self-employed individuals: Simplified Employee Pensions (SEPs) and SIMPLE IRAs. Here are the pros and cons of these plans. Important: For […]

Are You Missing the Roth IRA Boat?

Many self-employed individuals are eligible to make annual contributions to Roth IRAs, despite having healthy earnings from their businesses. But some haven’t yet taken advantage of this retirement saving strategy. Making annual Roth contributions can have a big upside by allowing you to accumulate a federal-income-tax-free nest egg for retirement. Roth IRA Basics Contributions to […]

Plan for a Comfortable Retirement

We plan for retirement because we know that we may not want to work forever. An artificial retirement age set by our employer may limit our options. Health issues may also dictate when we decide to retire. With your input, we can help devise a plan that puts you on the road to financial security. […]