Careers

Category: Retirement

  • Using Your 401(k) Plan to Save This Year and Next

    Using Your 401(k) Plan to Save This Year and Next

    You can reduce taxes and save for retirement by contributing to a tax-advantaged retirement plan. If your employer offers a 401(k) or Roth 401(k) plan, contributing to it is a tax-wise way to build a nest egg. If you’re not already contributing the maximum allowed, consider increasing your contribution rate between now and year end.…

  • Putting Together the Succession Planning and Retirement Planning Puzzle

    Putting Together the Succession Planning and Retirement Planning Puzzle

    Everyone needs to plan for retirement. But as a business owner, you face a distinctive challenge in that you must save for your golden years while also creating, updating and eventually executing a succession plan. This is no easy task, but you can put the puzzle pieces together by answering some fundamental questions: When do…

  • Taking Distributions from Your Traditional IRA

    Taking Distributions from Your Traditional IRA

    If you’re like many people, you’ve worked hard to accumulate a large nest egg in your traditional IRA (including a SEP-IRA). It’s even more critical to carefully plan for withdrawals from these retirement-savings vehicles. Knowing the fine points of the IRA distribution rules can make a significant difference in how much you and your family…

  • You May Have to Pay Tax on Social Security Benefits

    You May Have to Pay Tax on Social Security Benefits

    During your working days, you pay Social Security tax in the form of withholding from your salary or self-employment tax. And when you start receiving Social Security benefits, you may be surprised to learn that some of the payments may be taxed. If you’re getting close to retirement age, you may be wondering if your…

  • Grading the Performance of Your Company’s Retirement Plan

    Grading the Performance of Your Company’s Retirement Plan

    Imagine giving your company’s retirement plan a report card. Would it earn straight A’s in preparing your participants for their golden years? Or is it more of a C student who could really use some extra help after school? Benchmarking can tell you. Mind the basics More than likely, you already use certain criteria to…

  • Thinking About Moving to Another State in Retirement? Don’t Forget About Taxes

    Thinking About Moving to Another State in Retirement? Don’t Forget About Taxes

    When you retire, you may consider moving to another state — say, for the weather or to be closer to your loved ones. Don’t forget to factor state and local taxes into the equation. Establishing residency for state tax purposes may be more complicated than it initially appears. Identify all applicable taxes It may seem…

  • Are Your Employees Ignoring Their 401(k)s?

    Are Your Employees Ignoring Their 401(k)s?

    For many businesses, offering employees a 401(k) plan is no longer an option — it’s a competitive necessity. But employees often grow so accustomed to having a 401(k) that they don’t pay much attention to it. It’s in your best interest as a business owner to buck this trend. Keeping your employees engaged with their…