Running your own business, or working as an independent contractor, introduces unique elements that can be difficult to factor into your personal financial plan. Some of the common issues that a business owner or independent contractor should consider are included in the checklist below: Ways … [Read more...]
Business Owners or Independent Contractors
Backdoor Roth Contribution
Contributing to a Roth IRA can be an important component of your retirement savings plan. However, you may be unable to make a regular contribution to a Roth IRA if your income is too high. Thankfully there is a way around the Roth IRA’s income limit with a strategy known as a backdoor Roth … [Read more...]
Lump Sum Pension Options
Although increasingly rare, you may be a participant in an employer-provided pension plan, which can make up a considerable portion of your expected retirement benefits. If you are nearing retirement or are already receiving ongoing pension payments, you may have the option to choose a lump sum … [Read more...]
Estimated Tax Payments
Income tax planning is critical to your financial success, but navigating our complicated federal “pay-as-you-go” income tax system can be difficult. Adding further complexity, you must understand and adapt to frequent changes in tax laws and in your personal circumstances. Each tax year, it is … [Read more...]
Health Insurance Through the Marketplace
Health insurance coverage is often a primary concern for those who are retiring early. Understanding the different available options, and weighing the pros and cons of each, can be a complicated and stressful process for early retirees. To help, we have provided this “If I Retire Early, Should I … [Read more...]