Retirement

View Booking Calendar

OR

Send us an email and we'll contact you to book

Retirement Planning Articles

AVOIDING EXPENSIVE IRA MISTAKES
AVOIDING EXPENSIVE IRA MISTAKES

A second opinion from an expert can eectively uncover new information to help you make better decisions. Our Second Opinion Service delivers an objective analysis on how your wealth plan is performing relative to its goals and costs. For qualied, interested parties we oer the following complimentary service; Our time and expertise in the form of two face to face meetings and a personalized report to take away. Plus, our exclusive Retirement Document Organizer free of charge.

Read more →
UNDERSTANDING THE RULES OF IRA CONTRIBUTIONS
UNDERSTANDING THE RULES OF IRA CONTRIBUTIONS

A second opinion from an expert can eectively uncover new information to help you make better decisions. Our Second Opinion Service delivers an objective analysis on how your wealth plan is performing relative to its goals and costs. For qualied, interested parties we oer the following complimentary service; Our time and expertise in the form of two face to face meetings and a personalized report to take away. Plus, our exclusive Retirement Document Organizer free of charge.

Read more →
The Power of Time and Money


401(k)
The money is withheld through payroll deduction, and you can save up to $18,000 of your pretax income in 2015 ($24,000 if you are 50 or older). If you leave your job, you can roll the account over into a new employer’s 401(k) or your own IRA.
SEP IRA
SEP stands for simplified employee pension, and this kind of account is used primarily by the self-employed or small business owners. As the employer, you can contribute up to 25 percent of your income or $53,000, whichever is less, in 2015.
Simple IRA
This plan allows small employers (fewer than 100 employees) to set up IRAs with less paperwork. Employers must either match employee contributions or make unmatched contributions. An employee can contribute up to $12,500 in 2015, with an extra $3,000 allowed for those over 50.
IRA
Anyone can contribute up to $5,500 a year to an IRA ($6,500 if you’re over 50). The money grows tax-free. You can contribute to both an IRA and a 401(k), but if you’re covered by a retirement plan at work, you can’t deduct your IRA contributions from your taxable income if you earn more than $71,000 annually (for single filers) or $118,000 (married filing jointly).
Roth IRA
With a Roth IRA, you are contributing after-tax dollars, and you get no tax deduction for your contribution. The money you earn grows tax-free, and you pay no tax on withdrawals after you reach 59 1/2. Plus, unlike with regular IRAs, there is no mandatory withdrawal at age 70, but you can withdraw the amount you contributed (but not your earnings) at any time with no penalty or no taxes due, which is not the case with traditional IRAs.

jjaicks@lefavi.com

>>Click Here to book appointments with John's team<<

801-486-9000 | 800-422-9997