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As a Real Estate Agent, How Should I Prepare for Retirement?
The Temptation for Real Estate Agents is to Hold Off on Saving for Retirement. The assumption is that next year will be better than this one. Saving for retirement too frequently ends up being postponed. Start Saving Today You should be trying to save at a minimum of 10% of your annual income. If you…
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As a Small Business Owner, How Should I Prepare for Retirement?
The Temptation for Small Business Owners is to Hold Off on Saving for Retirement. The assumption is that next year will be better than this one. Saving for retirement too frequently ends up being postponed. Start Saving Today You should be trying to save at a minimum of 10% of your annual income. If you…
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As a Restaurant Owner, How Should I Prepare for Retirement?
The Temptation for Restaurant Owners is to Hold Off on Saving for Retirement. The assumption is that next year will be better than this one. Saving for retirement too frequently ends up being postponed. Start Saving Today You should be trying to save at a minimum of 10% of your annual income. If you can,…
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Protecting Your Money from the Market Drop
Stock Market Today: Russia-Ukraine Escalation Knocks S&P Into Correction The S&P 500 officially is off by more than 10% from its January highs as Russian troops enter Ukraine and world leaders respond with sanctions. The S&P 500, off 1.0% to 4,304, finally dipped into correction territory (a decline of 10% or more from a peak).…
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How Is Your 401(k) Taxed When You Retire?
When you withdraw funds from your 401(k)—or “take distributions,” in IRS lingo—you begin to enjoy the income from this retirement mainstay and face its tax consequences. For most people, and with most 401(k)s, distributions are taxed as ordinary income.1 However, the tax burden you’ll incur varies by the type of account you have: traditional or Roth 401(k), and by…