2021 Contribution Limits for IRAs and Retirement Plans

New inflation-adjusted limits for 2021 IRA and retirement plan contributions have been released by the IRS. Contribution limits have risen slightly for 2021, and income thresholds have increased as well. If you want to begin planning for your 2021 contributions or to maximize your 2020 tax deferred savings, this chart … Read more »

Backdoor Roth IRA Contributions

Implementing a “Backdoor Roth” strategy is a terrific way to build after tax retirement balances.  Roth IRAs allow for annual non-deductible IRA contributions which grow tax-free and there are never any required distributions as with a tax deductible IRA.  This makes Roth IRAs a very appealing savings option for those … Read more »

Medicare Open Enrollment for 2020 is Coming Up Soon

It’s that time of year for seniors again – Medicare Open Enrollment period.  When television ads begin in earnest and mailboxes are stuffed full of confusing advertisements for Medicare and its various policies.  Open Enrollment begins on October 15th and lasts through December 7th.  In an effort to help folks … Read more »