proper planning ensures retirement
is financially peaceful
When you subtract the amount workers are placing into their retirement plans while working, they often desire a similar income to what they had duirng their working years in retirement. This drastically changes the addage that you will be in a lower tax bracket during retirement. Combine that with looming changes by our government due to debt and the way we will be taxed going forward, your consultant(s) for retirement planning better be preparing you for the right expectations. Here are some interesting articles to help you feel more educated as to what you will face and help you understand our approach.
Articles on social security
You will hear many say they are concerned about the future of Social Security payments for retirees. This is a real concern, but telling 25% of the country you will no longer pay them what they paid into for decades will not go well. But we may see some major adjustments in the future. One of those could be "how" they tax Social Security payments.
Social Security Guide 2022
SS has a Money In & Money Out Problem
Articles on tax planning
With our country's deficit, we believe it is wise to understand that will most likely lead to increased tax rates. Here are some interesting articles to help you understand why this is a vital point for efficiently planning for retirement.
Congress Weighing Potential Changes for Retirees
The Biggest Story in Washington is Our Debt Nightmare
Articles on roth ira'S
The Roth IRA was created in 1997 and had such a small limit that most did not pay attention to it for years. The Roth 401(k) was not created until 2006 and was originally created to sunset in 2010. Thankfully it was not and the amounts you can contribute to your Roth accounts has increased substantially. And in addition, they allow us to do a Roth Conversion, with no limit as to how much you can convert. With looming tax rate increases, finding the right amount to convert can make an amazing difference to your financial security in retirement.