Category: Saving Money

Is Retirement Income Considered Earned Income? What to Know About Paying Taxes During Retirement Retirement is an exciting prospect for any working professional moving on to the next chapter in life. However, while retirement is an excellent time to do what you love and surround yourself with family, many adults preparing for retirement neglect to…

Wondering Which States Do Not Tax Retirement Income? A comfortable retirement life is a dream for many working professionals. However, as you plan for your financial future, one factor you might not consider is state taxes on retirement income. The prospect of paying taxes during retirement can sour your attitude and make retirement seem like…

Retirement Planning Questions When beginning retirement planning, there are many questions you need to ask yourself. Careful consolidation and creating a checklist can help you determine your individual goals and lifestyle needs. Once you have this information, it can be used to calculate how much money you will need. This can help you further strategize…

Nonprofit employees have an excellent opportunity to save significantly through retirement plans offered through their workplace, which can provide tax benefits that would otherwise be unavailable outside the office environment. These funds provide access to funds which can help meet post-employment expenses as well as offer tax advantages not available elsewhere.

Wondering about comparing a Simple IRA vs 401k pros and cons? As an employer, you are responsible for your employees while they are serving your team. To improve their quality of life, we help them plan for their future after they stop working. This way, they can concentrate on their daily tasks without worrying about…

Inflation and Recession: What Are They? Inflation is defined as a general increase in prices and fall in the purchasing power of money. Conversely, a recession is a period of negative economic growth, defined as two consecutive quarters of declining gross domestic product (GDP). Both inflation and recessions can have a negative impact on your…

401(a) and 401(k) plans are powerful tools in your retirement planning toolbox. These employer-sponsored retirement savings plans ensure you have a steady source of income during your golden years. While the two may seem similar at first glance, each plan has significant differences that can impact your retirement savings. Understanding the nuances of these retirement plans can…

When it comes to retirement, it’s never too early to start thinking about how you can build up savings for further down the road. In order to successfully build your retirement savings, you’ll want to think about your budget, what kind of retirement goals you have, and what your retirement plans might be. Depending on…