06 Feb Retirement Savings: Understanding Plan Limits and Deadlines for 2024 and 2025

Posted at 15:29h in Retirement Planning Hilton Head

Some retirement plan contribution limits are increasing in 2020. Periodically the Treasury Department raises contribution limits to keep pace with inflation. This is good news for those that like to max out their savings for retirement. For 2020, this includes almost all types of retirement...

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24 Nov Returning to Work After Retirement

Posted at 19:57h in Retirement Planning Hilton Head

After being retired for a bit you realize that you may not want to play golf 5 days a week, you miss your co-workers and you are not traveling as much as you thought you would. This is common – more and more people these...

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15 Nov Retirement Contribution Limits for 2022

Posted at 18:54h in Retirement Planning Hilton Head

Thanks to recent inflation the IRS has increased the contribution limits for some types of retirement accounts. Unfortunately, the IRA limits did not increase, but anyone with a 401(k) will be able to contribute more in salary deferrals and Health Savings Account (HSA) limits are...

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12 Feb Top 5 Risks in Retirement

Posted at 18:21h in Retirement Planning Hilton Head

One thing that I have learned over the years is that life holds many surprises – both good and bad. Most retirees try to predict if they have enough in assets and pension or social security income to maintain their lifestyle. What they...

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21 Sep Rollover Retirement Plan Options

Posted at 17:04h in Retirement Planning Hilton Head

People rarely stay with the same employer for their entire career. In fact, according to the Bureau of labor statistics, people change jobs an average of 12 times during their lifetime. With all these job changes, most people will end up with a 401(k) or...

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19 Aug Financial Strategies for Doctors and Dentists

Posted at 14:10h in Retirement Planning Hilton Head

On the surface, one would think that medical professionals like doctors and dentists would be financially secure. After all, the average primary care physician salary is $223,000 based on a 2018 Medscape Physician Compensation Survey, with some specialties making considerably more. Cardiologists, orthopedic...

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06 Jul Roth vs. Traditional IRAs

Posted at 19:04h in Retirement Planning Hilton Head

We are often asked, particularly by younger clients, if it is better to make tax-deferred contributions or after-tax (Roth) contributions to their IRA or employer-sponsored retirement account. While there are many rules of thumb across the internet and financial media on this topic, it is...

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15 Jun How to Access Emergency Money via the CARES Act

Posted at 18:47h in Retirement Planning Hilton Head

The Coronavirus Aid, Relief and Economic Security Act (CARES Act) has provided immediate access to retirement funds for qualified individuals that might otherwise be difficult or costly to tap. “Coronavirus-related distributions” or CRD’s are now permitted under certain circumstances from 401(k), 403(b) and IRA accounts...

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15 May 2020: The Year of the Roth Conversion

Posted at 15:27h in Retirement Planning Hilton Head

As a former philosophy minor, I believe that there are yin and yang forces at work in the world. This Chinese concept of dualism (negative-positive, dark-bright) postures that these contrary forces may actually be complimentary. Perhaps it is a result of self-isolation, but...

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19 Feb Save on Taxes with a Spousal IRA

Posted at 21:27h in Retirement Planning Hilton Head

Spousal IRAs allow married couples in which one spouse works and one does not to make IRA contributions to the account of the non-working spouse. Typically, in order to contribute to an IRA, you need to have earned income. Spousal contributions create a way around...

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