Tax-Delayed Isn’t Tax-Free
Believe it or not, investing during working years was the easy part. Just keep accumulating! Even better, the money you put aside wasn’t taxable. Such a deal! Tax-delayed doesn’t mean tax-free however.
Believe it or not, investing during working years was the easy part. Just keep accumulating! Even better, the money you put aside wasn’t taxable. Such a deal! Tax-delayed doesn’t mean tax-free however.
The SECURE Act 2.0 may do a lot to help secure Uncle Sam, but I’m not so sure about the rest of us.
Looking for retirement security?
Government spending has been out of control for decades and Congress needs to raise revenue. So, they passed The SECURE (Setting Every Community Up for Retirement Enhancement) Act in December 2019. It may secure the government’s future; but, one provision may make your heir’s retirement a little less secure.
There are many possible tax strategies available. The question, of course, is which, if any, are appropriate for you.
Required minimum distributions (RMDs) have been eliminated for 2020 due to the COVID-19 pandemic; but, you just might want to consider taking a distribution anyway. Why?
Most people work long hours for 30+ years trying to build wealth for themselves and their families. These three tips can make it a little easier.
Jim Lorenzen, CFP®, AIF® Giving to charity? While most anything can be given to charity, these are the more common forms of donated property: Cash: Cash
Jim Lorenzen, CFP®, AIF® Tax-deferred and tax-advantaged are two terms often used interchangeably and, as a result, often lead to a lot of confusion; but, the
Jim Lorenzen, CFP®, AIF® Tax-deferred and tax-advantaged are two terms often used interchangeably and, as a result, often lead to a lot of confusion; but, the
The next time you open your 401(k) or IRA statement and see your current balance, it might be worth remembering it isn’t true. The balance,
When most people buy things, they see only the price tag; but that doesn’t reveal the REAL cost, especially when it comes to luxury items. The real cost of luxury can be more than they realize.
It’s an election year, and while the headline topics dwell on the border, January 6th, the age of the candidates, and all the rest, few are talking about the “3rd rail” of politics: social security.
You can expect a few politicians will come up with innovative approaches (they know will never reach the floor for a vote), but it does make for good campaign sound bites. It can be confusing.