Insights
What gifting strategies will reduce my taxes?
Gifting can be a tax-efficient way to transfer wealth before and after your passing, and there are many strategies available depending upon your situation and goals. Gift Tax Exclusion – The IRS provides an annual gift tax ... Read more.
How do I prepare for health care costs in retirement and what portion will Medicare cover?
Budgeting for health care during retirement depends largely on your age and overall health. However, it is important to plan ahead as the cost of health care will likely increase as you age. According to the U.S. Bureau ... Read more.
How to Minimize Taxes on IRA Withdrawals and Maximize Your Retirement Income
As you approach retirement, one of the most important financial considerations is how to manage taxes on your retirement income. Without proper planning, required minimum distributions (RMDs) and other withdrawals could push you into a higher tax bracket, potentially eroding ... Read more.
Investing in your health to fully enjoy your wealth later in life
My path to living healthier began almost 20 years ago when my father passed away at age 63 and my mother was diagnosed with stage IV breast cancer two days prior to his death (she passed four years ... Read more.
The Smart Way to Pay Less Tax on Company Stock in Your 401(k) Using NUA
When you contribute to a 401(k), your investments grow tax deferred. But when you start taking distributions, you typically pay ordinary income taxes on the entire amount withdrawn. However, if you own your employer’s publicly traded stock inside your ... Read more.
Financial-Planning.com: What’s the right ratio of U.S. and foreign stocks?
John Foligno shares his take on Financial-Planning.com “Ask an Advisor” (April 13, 2023) Dear advisors, What would be a good allocation between domestic and international stocks? I'm a 36-year-old tech worker in New York City, and I have about ... Read more.
