Category Personal Finance
Your Roth Contribution Limits for 2025. Boost your tax free savings.
The Roth contribution limits for 2025 are $7,000 per person, with an additional $1,000 catch-up contribution for people who are 50 or older. There is no change from 2024. Roth IRA income limits for 2025 Roth IRA contribution limits for…
Your 401k contribution limits for 2025. Empower your wealth.
401k contribution limits for 2025 are $23,500 per person, up from 23,000 in 2024. All 401k participants over 50 can make a catch-up contribution of $7,500, for a total of $31,000. Starting in 2025, 401k participants who are reaching the…
TSP Contribution Limits for 2025. Empower your savings
TSP contribution limit for 2025 is 23,500 per person. Additionally, all federal employees over the age of 50 can contribute a catch-up of $7,500 per year. Starting in 2025, TSP participants who are reaching the ages of 60, 61, 62,…
Know Your Tax Bracket in 2025
Understanding your tax brackets for 2025 is crucial in managing your finances effectively and ensuring you make the most of your income. Tax brackets determine the rate at which your income is taxed, and knowing where you fall can help…
What to expect from the stock market in 2025?
As we step into 2025, we will eagerly watch the stock market again, hoping to build on the gains of the past two years. While no one can predict market direction with absolute certainty, a combination of recent market trends,…
Last minute tax savings moves for 2024
Tax Saving moves for 2024. As we approach the end of the year, taxpayers have a valuable opportunity to reassess their financial strategies and explore practical ways to reduce their tax burden. Implementing last-minute tax-saving moves in 2024 maximizes savings…
Five tax-smart ways to plan your legacy
Planning your legacy is more than just drafting a will. It is a profound undertaking beyond the mere distribution of assets. Planning your legacy is about ensuring your assets and values endure for generations. It’s about shaping your impact on…
Tax advantages and benefits of using Health Savings Account
A Health Savings Account (HSA) is a tax-advantaged savings account that individuals can use to set aside funds for qualified medical expenses. HSAs are designed to work together with high-deductible health plans (HDHPs), which are health insurance plans with higher…
10 Essential Money Saving Tips for 2024
10 Essential Money Saving Tips for 2024. It’s 2024. You turned a new chapter of your life. Here is an opportunity to make smart financial decisions and change your future. I have my list of ideas to help you care…
Tax-loss harvesting. How to maximize your after-tax returns.
What is tax-loss harvesting? Tax-loss harvesting (TLH) is a strategy that you, as an investor, can use to reduce your capital gains taxes and potentially maximize your future after-tax returns. The TLH strategy involves selling an investment in a taxable…
Last minute 401k moves to make in 2023
Last minute 401k moves to make in 2023 to boost your retirement savings. Do you have a 401k? These six 401k moves will help you grow your retirement savings and ensure that you take full advantage of your 401k benefits.…
Retirement Checklist: Your Comprehensive Guide to a Secure Retirement
Retirement is a significant life milestone that requires careful planning and preparation. Whether you’re approaching retirement age or still in the early stages of your career, having a retirement checklist is essential to ensure a financially secure and enjoyable retirement.…
How to handle a large inheritance and maximize your financial outcome
Handling a large inheritance is a blessing and a huge responsibility. It’s essential to approach this windfall carefully and strategically to maximize your financial opportunity. Managing a large inheritance involves a series of crucial steps and decisions. This article explores…
Successful strategies to manage your concentrated position
A concentrated position is an investment that makes an outsized share of your total net worth. As a rule of thumb, you should consider any investment that makes up more than 10% of your net worth as a concentrated position.…
Where is the stock market going in 2023?
The stock market posted impressive gains in the first two months of 2023. It’s fair to say that the strong market rally in January caught a lot of market experts and investors off guard. The general mood at the end…
10 Essential Money Saving Tips for 2023
10 Essential Money Saving Tips for 2023. It’s 2023. You turned a new chapter of your life. After experiencing once-in-a-lifetime events in 2022, here is an opportunity to make smart financial decisions and change your future. I have my list…
Charitable donations: 6 Tax Strategies – Updated for 2022
Charitable donations are an excellent way to help your favorite cause, church, foundation, school, or other registered charitable institution of your choice. Americans made $484.85 billion in charitable donations in 2021, which was 4% higher than 2020. The average annual…
Wise 401k moves to make in 2022
Six wise 401k moves to make in 2022 to boost your retirement saving. Do you have a 401k? These five 401k moves will help you grow your retirement savings and ensure that you take full advantage of your 401k benefits.…
Maximizing Roth savings for high-income earners
Maximizing your Roth savings is a terrific way to save for retirement for both high-income earners and professionals at all levels. Roth IRA is a tax-free retirement savings account that allows you to make after-tax contributions to save towards retirement.…
Inflation is a tax and how to combat it
Inflation is a tax. Let me explain. Inflation reduces the purchasing power of your cash and earnings while simultaneously redistributing wealth to the federal government. When prices go up, we pay a higher sales tax at the grocery store, restaurants,…
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