AMJ Financial Blog

Tag Archive: Retirement

TAX – Calculating the Pro-Rata Rule in 5 Easy Steps

If you hold both pre-tax and after-tax money in your IRA, you’ve likely heard of the pro-rata rule. It’s important to understand how this rule is calculated and how it can impact your retirement funds. In simple terms, the pro-rata rule is used to determine how much of a distribution is taxable when you have… Read More

Market Commentary – Dec. 4, 2017

What will it take to shake investors’ confidence? From the perspective of unsettling events, last week was jam-packed. North Korea claimed to have the capability to strike the United States with a nuclear missile, tax reform continued to travel a controversial path through the House and Senate, and former national security adviser Michael Flynn pled… Read More

MAXIMIZE your Social Security Benefits

Maximizing Your Social Security Benefits Retirement and Social Security are inextricably linked. Not only did Social Security help establish the official U.S. retirement age at 65, it also provides a significant portion of today’s retirees’ incomes. Some of the earliest company pension programs began paying benefits at age 65.1 The economics made sense since life… Read More

Fixing a Missed RMD in 5 Easy Steps

Once you reach age 70½ , the government requires that a specific minimum amount be withdrawn from your retirement account each year. If you miss the deadline or don’t take enough, Uncle Sam could hit you with a 50% penalty! Did you forget to take a required minimum distribution (RMD) from your retirement account? Unsure… Read More

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The Sandwich Generation – 6 Key Tips for Retirement

Life can get hectic, especially when you’re trying to balance raising your children and caring for your aging parents. Finding the time to plan for your retirement may seem impossible, but it’s crucial to make plans today for your financial future. How much should you be contributing to your retirement accounts? Should you consider a… Read More

How are Social Security benefits calculated?

One of the most important decisions you’ll make about your retirement is when and how to take your Social Security benefits, but it’s crucial that you understand potential tax implications prior to doing so. For many retirees that will have additional sources of income in retirement, Social Security benefits can push you into a higher… Read More

Roth IRA – To Convert or Not Convert in 5 Easy Steps

Are you considering converting your IRA or employer plan assets to a Roth IRA? You may be searching for ways to reduce your tax bill in retirement, and a Roth IRA can do just that. However, before you make any moves with your money, there are other tax implications you should consider first. One of… Read More

IRAs – Six Options for Retirement Plan Funds

Leaving an employer? Six Options for Retirement Plan Funds Accepting a new job or transitioning into retirement can be both exciting and overwhelming. Figuring out how to handle your current employer’s retirement plan funds may not be at the top of your priority list, but with several options to consider, it’s crucial that you take… Read More

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The Power of NUA in Numbers

You may have heard of the Net Unrealized Appreciation tax break, but it’s important to fully understand the impact it can have on your taxes. If you own company stock in your employer-sponsored retirement plan and you’re looking to roll it over to an IRA, this tax break can create significant savings. However, rather than… Read More

2017 Retirement Plan Contribution Limits

You’ve probably been told that one of the smartest financial moves to make is investing in your future by maxing out your retirement plan contributions. Traditional IRA and Roth IRA investors have had the same $5,500 limit for years, with a $1,000 catch-up contribution option for those 50 years of age or older. However, there… Read More