Retirement
Post Archive
Implications of State Taxes in Relocations
With an increase in remote work, business owners and their employees are taking the opportunity to relocate across state lines. But whether for work or retirement, what are the possible tax implications of a move, particularly from a high-tax state to a low-tax state? With more high-tax states auditing these moves to recover lost tax…
Read MoreWhat Do the New IRS Life Expectancy Tables Mean to You?
This article was originally published on Forbes on January 5, 2021. New Changes for IRA and 401(k) Owners Likely Overhyped It’s been almost two decades since the IRS updated the life expectancy tables that govern IRA distributions. These tables calculate your annual required minimum distribution (RMD), which is the rate at which retirees over…
Read MoreHow and When Should You Contribute to Your Individual Retirement Account (IRA)?
So, you want to save for retirement? 👏 👏 👏 Making annual contributions to retirement accounts is one of the most effective ways of saving for life after your career. These accounts are designed to save you tax dollars, either now and/or over time, and they are the government’s way of incentivizing you to plan for…
Read MoreFour Ways The SECURE Act Impacts Your Retirement Planning Now
This article was originally published on Forbes on January 23, 2020. Retirement and wealth planning have become more dynamic in recent years as Congress amends the rules on a regular basis. In the past couple of years, two significant tax code changes, each with major impacts on families strategic financial planning, were signed into…
Read More6 Most Important Points to Consider Before Rolling your 401k to an IRA
Gone are the days that someone joins a company out of college, grows with the same employer throughout their career, and then retires off into the sunset with a nice pension. Now, people move from job to job more frequently, and more often than not, they will have to rely on their own retirement savings…
Read More10 Common Mistakes to Avoid When Exiting Your Business
This article was originally published on Forbes on December 22, 2019. We have had the pleasure of serving multiple entrepreneurs and business owners over the years at my firm, Glassman Wealth. Business owners often face unique issues when it comes to managing their financial portfolios, especially when it comes to planning for retirement. Unlike…
Read MoreYour Brokerage Statements Suck
This article was originally published on Forbes on March 8, 2018. Your brokerage statements? They’re awful. Families are misinterpreting the information on their brokerage statements, and they are not being given the information they need to feel confident, comfortable, and well-informed when it comes to making financial decisions. If you own any investments with a…
Read MoreSupercharge Gifts To Kids With Roth IRAs
As the summer winds down, kids are returning to school, pockets overflowing with cash earned from summer jobs/internships. Is there an opportunity for these summer jobs to begin securing your child’s or grandchildren financial future? You bet there is, and it has arrived gift wrapped within the tax code in the form of a Roth…
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