For most Americans, the day you retire is the first day you have more control over your taxes than any other moment in your past. However, to take advantage of this, you have to know the strategies on how to position your wealth correctly. At REAP Financial, we want you to be set up correctly, so the IRS doesn’t dictate your IRA strategy!
Avoid IRS Control: Master Your IRA Strategy Read More »
Health Savings Accounts are one of the most powerful retirement planning accounts out there, if not the most powerful one. Despite this, many people don’t take advantage of them. If you want to take advantage of an HSA, you may be wondering how to fund an HSA.
How to Use an IRA to Fund Your HSA | Leveraging an IRA to HSA Rollover Read More »
Years ago, there were lucrative Social Security claiming strategies, such as file & suspend and restrictive applications, which are not available anymore. Now, it is more difficult to know what strategy is best for you. In the past, standard thinking was that waiting as long as possible was best, since it would maximize your benefit. However, this doesn’t always take into account the taxes you’ll pay on your social security.
Should I Take Social Security at 62? Read More »
When you’re working, taxes are pretty straight-forward and predictable. You get your W2 paycheck, and taxes are withheld, with qualifying retirement contributions giving you tax deductions. Pretty simple! However, when you retire, taxes get much more complicated.
Are You Equipped to Avoid These Retirement Tax Traps? Read More »
Discover a little-known strategy to quickly build a large Roth IRA by maximizing after-tax contributions to your 401(k) plan, enabling a mega Roth conversion upon retirement for tax-free growth and withdrawals.
Little-Known Way to Quickly Build a Large Roth IRA Read More »
With our current laws, if you’re approaching ages 73 or 75, you’ll likely be facing required minimum distributions (RMDs) soon. If you have any money in an IRA or 401(k), you have to take RMDs from these accounts when you reach those ages. This means you’ll have to pay taxes on those RMDs. If you’ve saved successfully for retirement, you may not want to take the RMDs since they can create additional taxes, increase your Medicare payments, and more.
4 Strategies for Optimizing RMDs from IRAs Read More »
When you’re saving for retirement, it is obvious that how much you’re saving makes an enormous impact. However, many times people overlook the importance of choosing where you’re saving strategically. In truth, where you’re saving your money is just as important as how much money you’re saving. Keep reading to learn where the most savvy investors save their money to minimize taxes and maximize their wealth in retirement!
Asset Location Drives After Tax Investment Returns Read More »
Join Chris, CEO of Reap Financial, as he uncovers the critical importance of maintaining accurate paperwork for your IRAs and 401(k)s. In this eye-opening episode, Chris shares two compelling case studies highlighting the significant pitfalls that can arise from neglected retirement account paperwork.
Why Your Retirement Account Paperwork Needs to Be Done Right Read More »
At REAP Financial, we see many clients with questions like this: can I retire successfully with a certain amount saved? There is a lot of confusion about which numbers indicate that you can retire successfully. From the total amount saved, the withdrawal rate, inflation rate, and more, there are lots of factors to consider. However, the real driver of whether you can retire successfully is none of these things! It’s one you likely don’t even suspect.
Your Early Retirement Dream – How to Retire Early and Make Your Savings Last Read More »
When you’re thinking about your retirement, there are a few accounts that likely come to mind, among them the 401k, 403b, the Roth IRA, and more! However, there’s one type of retirement account that is very beneficial and often overlooked: the Health Savings Account (or HSA). Read more.
Legacy Benefits of Health Savings Accounts Read More »