Blog Archives

4-Step RMD Planning Guide

Posted by Byron Ellis on July 17, 2018

A Required Minimum Distribution is just like it sounds. Basically, the IRS has never collected any tax revenue from your IRA accounts…and they’re tired of waiting! They will force you to start drawing down your IRA when you hit 70 ½. Read More

Don’t Do This If You Retire Early

Posted by Byron Ellis on July 17, 2018

So you are retiring early?  Congratulations.  If you are like many retirees, you have done a great job of saving into your company retirement plan and you now may have a problem…how to access those dollars and avoid any tax penalties. Be careful not to roll over your 401(k) too early! Overview of potential penalties: One of the advantages to saving into things like 401(k)s and IRAs is the possible tax deduction on the money going in and then the tax deferral as the accounts…
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How to Create a Retirement Budget Without Losing Your Mind

Posted by Byron Ellis on July 6, 2018

One common mistake people make when creating a retirement budget is to cut all the fun out of life. A “Top Ramen” budget invariably fails because it has no room for entertainment; so instead, learn to moderate. The first step is to track your expenses over a period of time (four weeks at the minimum) using an app or computer program, or the old-fashioned pen and paper. Read More