Am I Financially Ok? Managing Money Wisely
Gain confidence in your finances. Find out what to consider when asking yourself, am I financially ok, and improve your situation.| Grand Life Financial
Maximize Your Nest Egg with Smart, Tax-Efficient Retirement Planning Here we will break down how different types of retirement income are taxed and share smart tax strategies that can help you preserve more of your wealth during your retirement years. Understanding the Tax Impact on Retirement ... Read more. The post How Retirement Taxes Affect Your Income: Strategies to Minimize Your Tax Burden appeared first on Grand Life Financial.| Grand Life Financial
During your working years, contributing to tax-deferred retirement accounts (401(k), 403(b), traditional IRA, SEP IRA, SIMPLE IRA) provided the benefit of not paying income taxes. This allowed for more of your money to grow through compounding. But you cannot indefinitely defer paying taxes, which is where required minimum distributions (RMDs) come into ... Read more. The post How can I reduce my taxes when taking required minimum distributions? appeared first on Grand Life Financial.| Grand Life Financial
The typical response you would expect to hear from a financial planner is ‘absolutely’. However, depending upon your circumstances, a more traditional type of retirement plan may not be optimal. For instance, if you plan to sell your business in the future, it may make more sense to reinvest in your business ... Read more. The post Do small business owners need their own retirement plan? appeared first on Grand Life Financial.| Grand Life Financial
To select the right retirement plan for your small business, you want to begin with what you want to achieve. For instance, if you have employees (or plan to hire) and want to provide retirement benefits to help with retention, there are multiple plan options besides the 401(k). You’ll want to weigh both the ... Read more. The post Retirement Plans for Small Business Owners: How to Choose the Right One appeared first on Grand Life Financial.| Grand Life Financial
If it's within the next three years, probably not. The stock market is generally better when you can keep your money invested for at least five years. But you can certainly use short-term vehicles like high yield savings accounts, certificates of deposit, U.S. Treasury bills, and money market accounts that are interest-bearing with extremely ... Read more. The post Should I invest my money in the stock market now or wait? appeared first on Grand Life Financial.| Grand Life Financial
Gain confidence in your finances. Find out what to consider when asking yourself, am I financially ok, and improve your situation.| Grand Life Financial
After being in a savings mode for a good part of your life, you have now transitioned into retirement and may be wondering the best way draw down assets from your investment accounts to meet your living expenses and not incur significant taxes. The accumulation phase was somewhat straightforward as you used tax-advantaged investments to| Grand Life Financial
A comprehensive financial plan can help when making big decisions that will impact your finances. When can I retire? Should I use a windfall to pay off my mortgage early? How much do I need to save to retire so I can maintain my lifestyle? Developing a financial plan can help you evaluate each of your| Grand Life Financial
If you are one of the more fortunate to receive a pension, there may be several different payout options, like a lump-sum payout, and understanding the pros and cons of each can make a significant difference in how your retirement unfolds. A traditional pension, or annuity, means that you receive a fixed ... Read more. The post With a pension plan, is an annuity or lump-sum payout better for me? appeared first on Grand Life Financial.| Grand Life Financial
Get practical tips to get on same page financially with spouse, fostering open communication and shared goals.| Grand Life Financial
