by Joe Allaria CFP®, MBA | Aug 23, 2024 | Article, Retirement Planning
Can I Retire at 60 with $1 Million Dollars? Key Takeaway: Yes — if you spend carefully, manage withdrawals wisely, and adjust for longevity and market swings, retiring at 60 with $1 million can work, depending on your lifestyle and expenses. Retiring with a million...
by Joe Allaria CFP®, MBA | Jul 16, 2024 | Article, Retirement Planning
Semi-Retirement and How it Can Benefit You Key Takeaways: Phasing into retirement with a “semi-retirement” stage — reducing work hours instead of quitting cold turkey — can ease financial and emotional transitions while still generating income. Keeping some earnings...
by Joe Allaria CFP®, MBA | Nov 30, 2023 | Article, Retirement Planning, Tax Planning
2024 IRS Cost of Living Adjustments Key Takeaway: The 2024 IRS cost-of-living adjustments raised contribution and income thresholds — meaning you can earn or save more before hitting tax limits. The IRS has released its 2024 cost of living adjustments, which include...
by Joe Allaria CFP®, MBA | Jan 9, 2023 | Article, Retirement Planning
Social Security Loopholes Key Takeaways: The popular “restricted application” strategy that let married retirees claim a spousal benefit while their own benefit grew has essentially phased out as of 2023. File-and-suspend can no longer be used to boost spousal...
by Joe Allaria CFP®, MBA | Jul 26, 2022 | Article, Portfolio Management, Retirement Planning, Tax Planning
Should I Do a Roth Conversion? Key Takeaway: It depends on your tax situation whether or not you should do a Roth conversion. A Roth conversion can be smart if you expect higher taxes later and can pay the tax with non-retirement money, but it may backfire if it...
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