Archive | Retirement Planning

Plans to grow your retirement accounts

What Is a Qualified Charitable Distribution and How it Impacts Your RMD

For many retirees, the burden of meeting a required minimum distribution is an unwelcomed but necessary event.  This is an annual requirement that forces a taxable distribution from an otherwise tax-deferred account. Unfortunately, the penalty for not taking the distribution is severe: 50% of what should have been withdrawn. For retirees who find themselves in […]

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What Retirees Should Know About Required Minimum Distributions

Traditional IRAs may allow for tax savings in the year of contribution as well as tax-deferred growth for many years to come. Unfortunately, traditional IRAs are also subject to the rules of required minimum distributions. Required minimum distributions are the IRS’s way of saying you have avoided paying tax for long enough. Specifically, long enough […]

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Dan Zajac, philadelphia financial advisor

What is a Roth Conversion and Why I Love It

Roth IRAs may be fantastic financial planning and investment vehicles for many reasons.  Specifically, their tax-deferred growth and tax-free income features make them particularly attractive to savers of all ages and incomes. Unfortunately Roth IRAs were not always a readily available option for everyone.   In fact, the rules for contributing to a Roth IRA were […]

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how to you pay tax on an annuity

How and When Your Tax Deferred Annuity Becomes Taxable

Annuities, as I have mentioned before, are a hot topic in the financial planning community right now. I can find plenty of financial advisors that love annuities, but I can also find plenty of others that hate annuities. Love annuities or hate them, I believe that most financial advisors will agree they can be complex.  […]

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If You Knew You Weren’t Saving Enough for Retirement, Would you Change?

Saving for retirement can be difficult for many reasons. Pair the uncertainly of prognosticating the future with the need for delayed gratification (saving your hard-earned money rather than spending it), and it’s easy to understand why so many people fail to save enough. In fact, studies have suggested that 1 in 3 Americans have zero […]

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How Do i know if i have enough to retiree

How Much Money Does it Take to Retire?

Retirement planning conversations often begin with a simple question: how much money does it take to retire?  This simple question bubbles to the top for nearly every pre-retiree. It’s a simple question, but not such a simple answer. The answer is a complicated mixture that should account for a number of variables.  Some of these […]

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Catch up to retirement

8 To Dos in the 10 Years before Retirement

Planning for retirement can be difficult. With so many moving parts and so many big decisions, retirement can be overwhelming for even the most easy-going of us all. One way to make the potentially stressful time a little less crazy is to plan. Plan often and plan thoroughly. In fact, a successful retirement plan often […]

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Maximize Social Security

Factors to Consider when Delaying Social Security to age 70

If you want to maximize your monthly Social Security benefit, it may make sense to wait to collect your benefits until you are 70 years old.  At 70 years of age, your Social Security benefit maxes out.  This means that there is no point in waiting any longer to collect.  Your benefit is not going […]

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Cash Balance Plans - a way to defer more into retirement

Will My Social Security Income Be Taxed In Retirement?

Social Security income is an important piece of nearly every retirement plan.   But what many don’t realize, is that your Social Security income may be taxable income to you upon receipt. How much of your Social Security is taxed is subject to a number of different factors. Paying Into the System Just like the rest […]

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