Taxes

You have much to gain from tax-loss harvesting during volatile times, but even amidst the market’s 15 percent increase year-to-date, tax-selling opportunities still exist. Bonds in particular have underperformed and could be offset by gains elsewhere.

Planning for retirement involves asking the big questions, such as: How do I protect and grow my savings? Or, do I have enough? Beyond this, however, you have other factors to consider, both financial and non-financial.

If you want to minimize the dollars you owe Uncle Sam, it’s crucial to focus on limiting your long-term tax liability, versus only minimizing taxes in the current year.

You may find – like many of the families we meet with – that the distribution phase of retirement is often the most challenging. However, it can be greatly simplified by focusing on a handful of key risks.

Are you overemphasizing any financial concerns before you’ve secured your retirement foundation? With a comprehensive framework, you can put more time and energy toward what is in your control, and focus less on what isn’t.

People mistakenly believe they have a choice between claiming their own benefits or their spousal benefits. However, the reality is that spousal benefits are determined through a multi-part calculation and comparison.

Your retirement is more than an investment strategy. Guaranteed income is high on the list and taxes shouldn’t be overlooked.

While a Roth account is a powerful tool you can leverage to generate tax-free income, it has limitations on funding and participation. As such, this is where a loophole can come into play: The backdoor Roth strategy.

Ask yourself: Are you making any of these mistakes? Maybe it’s time to step off the sidelines, dig deep into your portfolio and create a greater opportunity to optimize your financial wellbeing.

Much like other forms of retirement income, your Social Security benefits can be taxed (up to 85 percent), depending on if you have additional income sources.

If you have yet to put an effective tax plan in place, the clock is ticking! Now is the time to leverage strategies to control future tax liability, while maintaining liquidity throughout your retirement.

Your decision to buy an annuity through an IRA or a taxable account should ultimately depend on your unique financial circumstances and goals. Either way, it’s crucial you consider the pros and cons first.