Category: Retirement

Roth

Do You Like Tax-Free Money?

That was a rhetorical question, but for good reason: to get your attention. Only 15% of US households contributed to a traditional or Roth IRA in tax year 2021. 1. This means even less than that contributed to a Roth IRA since this percentage accounts for both types of contributions. You may be aware that…
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March 7, 2023 0
Eggs

Don’t Put All Your Eggs in One Basket…or Should You?

These words of wisdom are just that—words of wisdom. Did you know they can also be words of catastrophe! If we’re talking about money, diversification is very good thing. It doesn’t solve everything, but it certainly hedges a lot of risk. So…these words of wisdom more than often apply. As your wealth and success grow…the…
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February 8, 2023 0
RMD

RMDs – A New Year with New Rules

Let’s start with a reminder of what a Required Minimum Distribution (RMD) is: A required minimum distribution (RMD) is the amount of money that must be withdrawn from an employer-sponsored retirement plan, traditional IRA, SEP, or SIMPLE individual retirement account (IRA) by owners and qualified retirement plan participants of retirement age.1 The main question here is…
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January 10, 2023 0
money-talk

The Must Have Money Talk

…with your adult kids. Should Inheritance Be a Retirement Strategy? That was actually the title of a Forbes article this year. And it’s really not a surprise when you consider just a few statistics: 63% of affluent 18-22 year old’s say that financial stability in retirement will depend on inheritance. 1 in 3 people are…
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December 19, 2022 0
COLA

Social Security Increase and Taxes

Beginning January 2023, Social Security checks will increase a whopping 8.7%! This is the largest increase in 41 years… and comes on the heels of a 5.9% raise in 2022. To top that off, Medicare premiums will actually decrease a small amount in 2023. This is great news, but beware! Uncle Sam may think it’s…
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November 1, 2022 0
Worried

When Should I Take My Social Security?

You were probably hoping to click on this article and finally get a straight and simple answer…And looking to your friends and relatives, you think you know the answer already.  Over 80% of the people eligible to start taking Social Security file their claim before their Full Retirement Age (which is most commonly age 67).1…
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September 2, 2022 0
Nightmare

The Retirement Nightmare

Just the idea of that makes you want to grind your teeth. Retirement is supposed to be anything but a nightmare, right? After all, it’s your Golden Years. You worked so hard to get here. It’s a dream come true… or is it? Right now, it could be a scary time to retire or be…
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August 11, 2022 0
Saving

401(k) Pitfalls and Opportunities

There are several reasons you may want to move your 401(k) to an IRA. It might simply be to consolidate your investments or to get away from unnecessary fees. It might be to make a Roth conversion. It might be to obtain an active money manager or work with a more holistic advisor. Whatever the…
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August 4, 2022 0
Ding

5 Hidden Dollar Dings in Post-Pandemic America

We may not exactly be post-COVID yet, but our world is certainly settling into a new rhythm that looks a lot more normal than the past couple of years. With that being said, many Americans have made huge changes in this short time. Many companies went virtual in 2020, giving their employees the opportunity to…
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July 5, 2022 0
Summer

Summertime Checkup

Summer’s here, and the time is right for vacations, outdoor activities, and fun. It’s also a good time to consider a few financial matters. Here are some questions to ask yourself mid-year. Goals still the same for 2022? Has market volatility affected your goals? Note any changes since the first of the year that may…
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June 13, 2022 0

Securities offered through Calton & Associates, Inc. member FINRA and SIPC, a Registered Investment Adviser. Investment advisory services offered through Smart Money Group, LLC, a Registered Investment Adviser. Smart Money Group, LLC and Kennedy Financial Services, Inc. are not owned or controlled by Calton & Associates, Inc.