Personal Finance

TAKE FULL ADVANTAGE OF TAX DEFERRED SAVINGS PLAN

December 7, 2018

TAKE FULL ADVANTAGE OF TAX DEFERRED SAVINGS PLANS

2019 ALLOWED CONTRIBUTIONS RISING

    401(k) OR SIMILAR WORKPLACE RETIREMENT PLAN:

  • $19,000 for under age 50
  • $6000 catch-up contribution for age 50 or older remains the same
    INDIVIDUAL RETIREMENT ACCOUNTS – I.R.A.’s:

  • $6000 for under age 50
  • $7000 for age 50 or older
    • HEALTH SAVINGS ACCOUNTS – H.S.A.’s:

 

    • $3500 for under age 55

 

    $1000 catch-up contribution for age 55 or older remains the same
    HEALTH SAVINGS ACCOUNTS = TRIPLE TAX BENEFIT

  • tax-free contribution
  • tax=free growth
  • tax-free withdrawals

Watch the related WEALTHTRACK episode.

TALK TO EVERYONE YOU CARE ABOUT, NO MATTER WHAT AGE OR STAGE ABOUT ACHIEVING “POSITIVE FINANCIAL INDICATORS”

November 17, 2017

TALK TO EVERYONE YOU CARE ABOUT, NO MATTER WHAT AGE OR STAGE ABOUT ACHIEVING “POSITIVE FINANCIAL INDICATORS”:

  • Having enough money to save for future needs
  • Saving enough for retirement
  • Feeling in control of your financial life
  • Taking an active role in setting and achieving goals for your financial life
  • Able to pay monthly expenses

Watch the related WEALTHTRACK episode.

CONSIDER USING A DONOR-ADVISED FUND FOR YOUR CHARITABLE GIVING

June 23, 2017

CONSIDER USING A DONOR-ADVISED FUND FOR YOUR CHARITABLE GIVING

Donor-Advised Fund Advantages

  • Take immediate tax deduction
  • Take time identifying where and when the money is given
  • Simplify record keeping
  • Make it easier to give in small and frequent amounts
  • Vet charitable organizations
  • Appraise and liquidate hard to give assets including real estate and art

Watch the related WEALTHTRACK episode.

MAXIMIZE YOUR AFTER TAX RETURNS

February 17, 2017

MAXIMIZE YOUR AFTER TAX RETURNS

Watch the related WEALTHTRACK episode.

MAKE SURE YOU HAVE SOME INFLATION PROTECTION IN YOUR PORTFOLIO

February 3, 2017

MAKE SURE YOU HAVE SOME INFLATION PROTECTION IN YOUR PORTFOLIO

Watch the related WEALTHTRACK episode.

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