AMJ Financial Blog

Tag Archive: Retirement

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Once you reach age 70½ , the government requires that a specific minimum amount be withdrawn from your retirement account each year.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

Choosing the Right Tax Professional – 5 Easy Steps

Choosing the Right Tax Professional in 5 Easy Steps Managing taxes during retirement might be the single most important factor influencing your retirement lifestyle. As you transition from working for an income to withdrawing income from your savings and investments, you might have questions: How can I maximize my income while minimizing income taxes in… Read More

Market Commentary – August 2, 2016

Here’s a brain tickler for you: In July 2016, there were four. In June 2016, there were 10. Since 2008, there have been 673! What are they? If you guessed central bank rate cuts, you are on the money. Financial Times reported: “In the eight years since the collapse of Lehman Brothers, the world’s top… Read More

Market Commentary – May 31, 2016

The Markets Everyone makes mistakes. Some people learn from them. In GMO’s March 2016 white paper, James Montier and Philip Pilkington continued to explore the Federal Reserve’s influence on the stock market. It was a process they’d begun in 2015 as they sought “…to understand why our forecast for the S&P 500 had been too… Read More