Tag: retirement

retirement tips for freelancers

Retirement Tips for Freelancers

Can’t imagine finding the cash flow to set aside money for your future? Roth IRAs and HSAs can do double duty for you, providing funds if needed today, but also allowing you to save for retirement.

Being self-employed has plenty of perks, but it also comes with a major retirement challenge.  There’s no company-sponsored retirement plan that you are automatically signed up for. It’s all on you to figure out what type of retirement accounts make sense for you, and figure out a way to save consistently.

“Retirement Tips for Freelancers”

retirement mistakes

Retirement Mistakes To Avoid

The vision of a prosperous retirement is often filled with beaches and sunshine, not dwindling funds or overdrawn accounts. Making sure you save for retirement is an important step. Not falling for common retirement mistakes will get you ready for a life of leisure.

“Retirement Mistakes To Avoid”

401k vs HSA

401(k) vs. HSA

The 401(k) is the gold standard of retirement savings with dedicated funds to save tax-free money. Tax-free growth only sweetens the deal. Likely why 32% of all Americans have a 401(k). What if there was another tax-saving vehicle that could be used just like a 401(k), but had an extra tax advantage and was for health cost as well? The HSA might be the only 2 for 1 deal offered for healthcare and retirement savings.

“401(k) vs. HSA”

long-term HSA value

What is the Long-Term Value of an HSA?

Health costs are rising. Over time, these costs experience compound growth. How can you save for today to combat that cost growth? A Health Savings Account. An HSA is the only dedicated health account that can help you save or invest money for the long-term. In fact, the long-term value of an HSA is not just limited to dedicated health savings, it is actually another IRA hiding in plain sight. Let us show you how to take advantage of your HSA benefits.

“What is the Long-Term Value of an HSA?”

stealth ira

The Stealth IRA

The value of a 401k and an IRA cannot be understated. However, there is a clearly a limit on their tax advantages based on the annual contribution limits. On top of that, you are penalized if you want to use any of these funds before retirement.

“The Stealth IRA”

Tax-free retirement income

100% Tax-Free Retirement Income 

Saving for retirement is hard enough. Having those hard-earned funds taxed in retirement can feel emotionally frustrating and financially exhausting. No matter how much money you have saved for retirement, the further that money can go, the better. Here is how to use two retirement tax vehicles to save the most money today, and have 100% tax-free retirement income.

401k Contributions

How much should I contribute to my 401(k)?

One of the mainstays of employer benefits packages, the 401(k) and its cousin, the 403(b), are this generation of employees’ retirement workhorses.  Updated by Congress under the Pension Protection Act of 2006 (“PPA”), employers can opt you into the plan, initiate automatic deposits from your payroll and even increase the percentage over time, all in your best interest.

“How much should I contribute to my 401(k)?”

HSA and Retirement

HSAs and Retirement

Retirement healthcare costs are expected to exceed $275,000 per couple. This is on top of existing Medicare coverage. An HSA is the only health saving vehicle that allows individuals and families to prepare for these long-term health costs.