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Boosting your retirement savings as a business owner requires strategic planning and disciplined financial management. Here are seven effective strategies to enhance your retirement...
3. Utilities. Utilities such as electricity, water, heating, and internet services are essential and continuous expenses. Efficient management and budgeting for these recurring costs are necessary ...
Last but not least there is a notable factor to keep in mind: At the end of 2025, the Estate Gift Tax Exemption amount rolls back to about $7 million per person — from $13.6 million now, he said ...
Checking these five items off your retirement savings to-do list can help you prepare for a comfortable retirement years down the road. 1. Determine your retirement savings goals. The first step ...
You can kick retirement savings into high gear once you turn 50 because the IRS tax code lets you make catch-up contributions. You can add an extra $6,500 to a 401 (k), 403 (b) or 457 plan for the ...
A 401(k) plan is a tax-advantaged retirement savings tool offered by employers that allows eligible employees to contribute a portion of their salary up to a set amount each year.
Pension plans are a type of retirement plan where an employer commits to pay a set monthly amount to employees when they retire. The amount is usually based on the employee’s salary and years of ...
Your retirement savings options aren’t limited to an SEP IRA or a Roth IRA. You can also invest in a traditional IRA , which functions similarly to a 401(k) plan in reducing your tax...
The Secure Act 2.0 legislation that passed late last year added new retirement savings options but also has a few potential catches for unsuspecting savers. In my last column, I covered one set of ...
5. Try income annuities. An income annuity is when you make a payment to an insurance company in return for regular income payments. It’s not life insurance, and your family doesn’t get a ...