As a Gen Xer myself — one who works in the financial services industry to boot — I feel the pressure of what I call the “Gen X Jam.” How will I support my retirement years and help my aging parents? What about my kids’ college education?Read More
There are a number of important decisions that most people must make when reaching their 60s. One, of course, is when to begin receiving Social Security benefits. Another has to do with Medicare. These two benefit programs, and their claiming strategies, are inextricably linked.Read More
You have been thinking about, saving, and planning for your retirement for decades.Read More
When people think of retirement, obvious things come to mind: Did I save enough to be able to achieve my goals in retirement? How much am I able to spend? What happens if we experience another recession? Although those are very important considerations, few take the time to examine their emotional well-being and how it will affect their daily life/routine when they retire.Read More
Retirement plan trigger events (death, disability, separation from service, or reaching age 59 ½) come with an opportunity. If you have company stock in an employer-qualified retirement plan, you may have an opportunity to elect net unrealized appreciation (NUA), allowing you to roll your company stock into a taxable account for potential tax savings.
Potential Tax Savings with NUA
Electing NUA is trading ordinary income tax rates for capital gain tax rates.
When an NUA election is made, only your cost basis (theRead More