A question that pops up often is “Should my contributions go to my traditional IRA or my Roth IRA?” We’re going to look at how we go about this process in this week’s Inside Look at Building Toward Wealth. Please note, the information contained here…
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Can I make a deductible Traditional IRA contribution?
A common question is “Can I make a deductible Traditional IRA contribution?” I will try to shed some light on this subject too in this week’s Inside Look at Building Towards Wealth. Please note, the information contained here is for 2022. While the contribution limits…
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5 goals for the New Year
5 goals for the new year. I recently wrote about the importance of goal setting. I asked you to share your goals with me, and thank you to those who did just that. I want to share my goals with you. A part of this…
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The Importance Of Goal Setting
“If you don’t know where you are going, any road will take you there” – Lewis Carroll Where are you going? Until you can answer that question, you can’t say what path is the best choice for you to take. Without knowing your direction,…
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Managing Trade-Offs in Our Lives
Let’s discuss managing trade-offs in our lives. I recently was having drinks with a friend of mine and got into a conversation about some of the choices that we have made in our personal and professional lives What was great about the conversation is that…
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Proposed Tax Changes (2021): Fact vs Fiction
Proposed tax changes (2021)? Let’s take a closer look. “We Have Nothing to Fear Except Fear Itself” —Franklin D Roosevelt We are constantly being bombarded by headlines and stories that are purposely designed to invoke the fight or flight mechanism in our brain. I have…
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Want to know what you should be reading?
Reading is to the mind what exercise is to the body. —Richard Steele It’s been a crazy month in my life. We closed on the new home that I talked about in, “How do we think through the home buying process?” packed and moved. There…
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ESPP: Will I Have to Pay Tax on My Qualified Employee Stock Purchase Plan?
Employee Stock Purchase Plans (ESPP), can be an important benefit for clients. These programs can allow the purchase of employer stock at a discount which creates an incentive for employees to increase their ownership stake with their employer. The tax impact upon the sale of…
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Map Vs. Compass In Financial Planning
I recently found myself watching the movie Lincoln, which made me think about the map vs. compass debate. This Steven Spielberg epic, provides a fascinating study in leadership. The particular scene that brought me to write this blog is the one between Thaddeus Stevens, played…
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Is Back-Door Roth Going Away?
Did you know that there could be some major changes coming to the backdoor Roth IRA? The recent proposed tax changes have gotten a lot of attention in the news lately. This has also spawned quite a few questions from clients and acquaintances. Perhaps the…
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