The Solo 401k plan remains a standout choice for the self-employed in 2023, offering substantial contribution limits that empower entrepreneurs to save aggressively for retirement. The elective deferral limit has been raised to $22,500, a significant increase that allows for greater tax-deferred savings. For individuals over 50, the catch-up contribution limit provides an additional $7,500, […]
Personal Finance
Financial Planning: Not Just for the Elite The Common Myths and Realities
Financial Planning: Not Just for the Elite The Common Myths and Realities
Financial planning isn’t just a luxury for the mega-rich. Many believe that to get a decent financial planner, you need an elite bank balance. The reality? Not quite. Too many high-earners in their 20s and 30s feel ignored by the financial industry. Why? They’re yet to hit that seven-figure mark. It’s frustrating. Everyone deserves proper […]
ISO Credit for AMT Exercise
ISO Credit for AMT Exercise
Key Points Introduction As a savvy investor, it’s essential to understand the intricacies of alternative minimum tax (AMT) and incentive stock options (ISO). When it comes to exercising an ISO, it’s crucial to be aware of the ISO credit for AMT exercise, which can help you reduce your tax bill. The ISO credit for AMT […]
Financial advisor vs financial consultant; what’s the difference and which is better for you?
Financial advisor vs financial consultant; what’s the difference and which is better for you?
Key Points Introduction Deciding which financial professional to work with can be a daunting task. It’s important to understand the different types of services they offer and how they can help you reach your financial goals. One of the most common questions people have is whether to work with a financial advisor or a financial […]
Are Index Funds and Mutual Funds The Same Thing?
Are Index Funds and Mutual Funds The Same Thing?
Key Points Introduction Investing in the stock market can be an intimidating experience, especially for those who are new to it. With so many different options available, it can be difficult to know what type of investment would be right for you. Two popular investment vehicles are index funds and mutual funds—but is there a […]
The Comprehensive Guide For Qualified Distributions from Roth IRAs
The Comprehensive Guide For Qualified Distributions from Roth IRAs
Key Points Introduction A Roth IRA is a unique retirement account that offers some attractive benefits, including the ability to take qualified distributions without having to pay taxes on the money. But what exactly is a qualified distribution? And how do you know if you’re eligible to take one? In this blog post, we will […]