Retirement Planning

Could Your Plan Use More FOMO?

Did you hear about the Camillus, NY man that sued his parents when they offered him $1,100 to move out of their house? The story of a 30-year-old deadbeat refusing to leave his parents’ home where he lives rent free fits perfectly into the stereotype of a lazy, self-centered Millennial (those born between 1980 – 1992) that my Generation X (1965 – 1979) takes delight in ridiculing.

That stereotype was fed further this week when the financial information website, MarketWatch, tweeted a link to an article offering Millennials retirement advice. On cue, Thirtysomethings replied to the tweet with characteristic cynicism and snark.

2017's IRA “Sell by” Date Fast Approaching    

It’s Monday morning and you have just mustered the energy to crawl out of bed to start your work week. You shuffle to the kitchen and open the pantry to grab a box of cereal, then you reach into the refrigerator for the milk. You fill your bowl with the flakes and milk and take a bite…YUCCHH!

Now fully awake you glance at the milk container to see that it expired sometime last week. We’ve all been there, right? Even if you don’t drink milk, you’ve probably done something similar with moldy bread, old lunch meat, or some other product.  But are you doing this with your retirement?

How to Turn Your 401(k) Into a "Super Roth IRA"

A few weeks ago, I discussed Roth IRAs and specifically, the Back Door Roth IRA, as a tactic for high earners to take advantage of the tax-free growth afforded to Roth IRAs. With Retirement Season in full swing, hardly a day goes by that I’m not asked about how to save more while minimizing taxes.

For the next few weeks, I will offer several ways investors may take advantage of lesser known tactics to fatten up those retirement account balances and maybe save some tax money in the process. This week, we’ll start with the Super Roth IRA.