Life Marketing Consultant | Advanced Planning Strategist | Insurance Solutions Expert CA License #0G89137
Clients and advisors should be aware of a variety of retirement plan distribution issues in light of the SECURE Act and SECURE 2.0, writes Jim Barbee, who discusses topics such as inherited IRAs, required minimum distributions, trusts and qualified charitable distributions.Full Story: https://lnkd.in/ghQppztk #cavalierassociates #financialintelligencereport #ira
Clients and advisors should be aware of a variety of retirement plan distribution issues in light of the SECURE Act and SECURE 2.0, writes Jim Barbee, who discusses topics such as inherited IRAs, required minimum distributions, trusts and qualified charitable distributions.Full Story: https://lnkd.in/en-9jqYv #cavalierassociates #financialintelligencereport #ira
Michael Joseph Cavalier, Jr. Principal CA License #: 0B45144 CIMS Insurance Agency LLC CA License #: 0H37994
Clients and advisors should be aware of a variety of retirement plan distribution issues in light of the SECURE Act and SECURE 2.0, writes Jim Barbee, who discusses topics such as inherited IRAs, required minimum distributions, trusts and qualified charitable distributions.Full Story: https://lnkd.in/eeJJgAsi #cavalierassociates #financialintelligencereport #ira
END OF YEAR PREP: Ready to supercharge your financial strategy before the year ends? From maximizing retirement contributions to strategic charitable giving, here are seven strategies ways to help optimize your finances in 2025. #financialchecklist
Ready to supercharge your financial strategy before the year ends? From maximizing retirement contributions to strategic charitable giving, here are seven strategies to help optimize your finances in 2025:
Managing Partner | Financial Advisor | Empowering Affluent Families and Businesses to Achieve True Financial Security
As 2024 winds down, now is the perfect time to take a closer look at your financial strategy. From maximizing your retirement contributions to leveraging charitable giving and tax-loss/tax-gain harvesting, our latest blog post breaks down 11 quick actionable ideas to help you close the year on a high note!
Have you planned for the 3 most important strategies to minimize taxes on your retirement withdrawals? How and when you withdraw from your retirement accounts can significantly impact your tax liability. Consider these strategies: Roth Conversions: Converting some traditional IRA funds to a Roth IRA before RMDs begin allows you to pay taxes at lower rates now and withdraw tax-free later. Strategic Withdrawals: Draw from taxable accounts first to allow tax-deferred accounts to continue growing. This also helps you manage your tax bracket in retirement. Consider Qualified Charitable Distributions (QCDs): If you’re over 70½, QCDs allow you to donate directly from your IRA to a charity, reducing your taxable income. Are you maximizing your tax efficiency when planning your retirement withdrawals? #RetirementPlanning #TaxStrategy #RothConversion #QCDs #FinancialPlanning
As 2024 winds down, now is the perfect time to take a closer look at your financial strategy. From maximizing your retirement contributions to leveraging charitable giving and tax-loss/tax-gain harvesting, our latest blog post breaks down 11 quick actionable ideas to help you close the year on a high note!
Retirement should be about enjoying your hard-earned savings, but did you know that taxes can still significantly impact your financial health even after you stop working? 🤔 From understanding Roth conversions to effectively managing Medicare premiums and more, our latest blog dives deep into the essential tax strategies you need to know to safeguard your financial future. Whether you’re aiming to preserve your wealth, support charities, or leave a legacy, it's crucial to plan wisely. https://lnkd.in/eRZUKUQC
Retirement should be about enjoying your hard-earned savings, but did you know that taxes can still significantly impact your financial health even after you stop working? 🤔 From understanding Roth conversions to effectively managing Medicare premiums and more, our latest blog dives deep into the essential tax strategies you need to know to safeguard your financial future. Whether you’re aiming to preserve your wealth, support charities, or leave a legacy, it's crucial to plan wisely. https://lnkd.in/eAStsKBu
Here are the three new Required Minimum Distribution (RMD) rules for 2024 that The Motley Fool believes everyone should be aware of to avoid tax and fee costs: 1. Starting in 2024, Roth 401(k)s no longer require Required Minimum Distributions (RMDs), offering retirees more control over their withdrawals and tax-free growth. 2. Beneficiaries who inherited IRAs between 2020 and 2024 can skip RMDs for 2024, providing flexibility in tax planning and potentially reducing overall tax liabilities by deferring withdrawals. 3. Seniors aged 70 ½ or older can donate up to $105,000 annually from their IRAs directly to charities as QCDs, which count towards RMDs and are tax-free, offering tax benefits for charitable giving and retirement planning. https://lnkd.in/erBc4HTT #retirement #TaxPlanning #seniors
