Author: Brennan Rhule, CFP®, ChFEBC℠, AIF®

The Mega Roth – $73,500/Year Into a Roth IRA A mega backdoor Roth is a little-known strategy allowing you to save $73,500 ($66,000 if under 50) into a Roth IRA annually. The mega Roth is primarily used by people with high incomes who cannot contribute to a Roth IRA due to income limitations. Roth IRA Phaseout Income Limits Single =     $138,000 – $153,000 Married =   $218,000 – $228,000 The $73,500 Formula Formula = 401(k) + Employer Matching/Profit-Sharing + After-Tax Contribution

$382,500/Year In Tax-Deferred Retirement Savings Small business owners should be considering every option for reducing taxes and saving for retirement. This is a must read if you are a business owner and have any of the following: High income Few employees Own a solo 401(k) How Do You Even Put That Much Money Away? The strategy involves a combination of a 401(k) plan and a cash balance plan. Maxing Out the Defined Contributions at $73,500 ($66,000 if under 50) An

With the New Year comes new resolutions.  Before starting any new gym memberships or changing your diet, you may want to ensure that your financial health is in order.  This means updating your 401k or retirement plan contribution amounts and making sure that your investments are suit for your goals.  Here are some of the key planning numb you should pay attention to.   Retirement For those of us who have an employer sponsor plan (401k, 403b, or the TSP), The

As of this writing, the S&P 500 is down year-to-date -16.26% and the NASDAQ is down -29.14%. While 2022 has not been kind to the market, there are silver linings with every down market. Down markets provide an opportunity to rebalance portfolios, purchase undervalued investments, conduct Roth conversions, and take advantage of tax-loss harvesting. What is tax-loss harvesting? Tax-loss harvesting is a strategy that reduces the total amount of future capital gain taxes due. Generally, investors will select investments that