2021 Retirement Plan Limitations
On October 26, 2020, the Internal Revenue Service announced the cost-of-living adjustments (COLA) that will take effect January 1, 2021 (IRS Notice 2020-79). ...
This article was originally published in Wedgewood Life magazine and is reprinted with their permission.
Over the last series of articles, we have highlighted a couple of core long-term wealth tenants such as spending less than you make and the importance of focusing on what you save, not on what you earn. This month we progress forward from wealth creation to wealth accumulation.
Wealth accumulators are established in their career, nearing peak earnings potential, and begin to contemplate when, how, and what retirement might look like. As an individual accumulates wealth, the concept of retirement typically transitions from “at some point in the future”, to “getting close”, to finally “retirement reality”. When working with and advising clients with a goal of retirement and financial independence, our financial planning focuses on:
As your wealth accumulates and your financial goals come into view, a keen focus on these important planning topics will increase your financial confidence in making your retirement a reality.
Material discussed is meant for informational purposes only, and it is not to be construed as investment, tax, or legal advice. Individual situations can vary, therefore, this information should be relied upon when coordinated with individual professional advice.
On October 26, 2020, the Internal Revenue Service announced the cost-of-living adjustments (COLA) that will take effect January 1, 2021 (IRS Notice 2020-79). ...
In March 2020, the CARES Act created the Employee Retention Credit (“ERC”), which allowed qualifying employers of any size to claim a refundable ...
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