Hello blog-reading folks! I wanted to let you know that I was just recently interviewed on the Chain of Wealth podcast if you want to check it out. You can subscribe to the show on your favorite podcast player or just click the play button below.
It was a ton of fun and I had a blast talking with Denis and Katie. They have an awesome podcast that talks about all things personal finance and they just recently reached over half a million downloads….CRAZY!
Hello blog-reading folks! I wanted to let you know that I was just recently interviewed on the Financial Grownup podcast if you want to check it out. You can subscribe to the show on your favorite podcast player or just click the play button below.
It was a ton of fun and I had a blast talking with Bobbi. She has an awesome podcast that covers everything you need to know so you can be a real financial grownup.
With the Equifax date breach being announced just over a month ago, credit reports and credit scores were actually an important topic of conversation for a change. However, a month in this day and age can seem like years ago.
Now that it is almost considered old news, we’re back to our normal everyday lives and, believe it or not, that’s not thinking about our credit reports or even our credit scores. That has become old news and we’ve now moved on to the next headline.
The last decade has seen some major changes and events, but a lot remains the same. Reflecting on 10 years in business at NextGen Wealth has been a remarkable experience. We’ve accomplished so much, but there’s still much more to come!
We’ve continually added services and enhanced the client experience. It’s amazing to see how much we’ve accomplished navigating successful retirements.
Your golden years are the perfect time to enjoy yourself to the fullest. Take all those trips you always wanted to! Start that hobby you’ve been putting off!
Finally, learn that musical instrument you didn’t have time for during your career! Retirement is the time to live it up. If you’re spending money on travel and hobbies, though, you’ll probably want to consider ways to supplement your retirement and savings. Check out this list of possible supplemental income sources to see if any are right for you.
This post was last updated on December 31, 2024, to reflect all updated information and best serve your needs.
Make the most of your retirement planning in 2025! No matter how much time between now and these deadlines, mark your calendar so you don't miss anything. Now is the time to prepare for retirement account contributions (or withdrawals).
Everyone eventually runs out of “tomorrows." Hopefully, your appointment to update your estate documents is scheduled for today. Passing away without proper estate planning and up-to-date documents can be a nightmare on top of a nightmare for your loved ones.
Don’t let a legal mess be the last thing your family remembers about you. Planning for your eventual demise is about as much fun as a root canal. However, careful planning and current documentation are a great gift when the time comes.
Roth IRA conversions are a valuable tool in long-term tax planning. This method might save you tens of thousands of dollars or more on your taxes. But is there a best time of year to complete Roth conversions?
You must consider many variables to determine what’s best for you. Life happens, and your tax-saving strategies must be adjusted accordingly. This is why we typically evaluate and complete Roth conversions annually.
The Tax Cuts and Jobs Act (TCJA) of 2017 significantly changed our tax landscape. However, most changes were temporary and set to expire or “sunset” at the end of 2025. This means some essential tax-saving tools may disappear.
In other words, time is running out to maximize particular tax savings – unless Congress takes action. We don’t know about you, but counting on Congress to do anything feels like a roll of the dice. We can take action now to set ourselves up for success regardless of what happens.
No matter who you are, investing is always a smart move. Whether you’re saving for retirement or trying to grow your personal wealth, you need to take advantage of investment opportunities. However, while your money can grow tax-deferred, what happens when you withdraw it?
In most cases, you will have to pay taxes on capital gains in your taxable (non-retirement) accounts. Fortunately, if you wait until the right moment, you can reduce your tax burden. In some cases, you might be able to save thousands or tens of thousands of dollars.
No matter how old you are, it’s never too early to start planning for retirement. However, while there are many different elements to this process, it helps to break it down into a few core components. Today, we’re going to cover how to plan for the top three expenses in retirement.
Making sure that you have enough money to last through your golden years is imperative. No one wants to run out before it’s time. However, it’s not just enough to worry about sources of income during your retirement. You also need to plan how you’re going to be spending that money.
One of the biggest challenges to overcome when investing is trying to minimize your tax liability. Capital gains taxes can take a significant chunk of your gains if you're not careful. This is why you need to understand various tax strategies e to minimize your tax liability.
Although it may seem a bit counterintuitive at first, tax-gain harvesting may be a viable option in some cases. While you may have heard of tax-loss harvesting, today we want to take a closer look at tax-gain harvesting to see how it works and when it should be deployed. This strategy is a bit more advanced than some others, but it can be beneficial when used effectively.
This post was last updated on January 04, 2025, to reflect all updated information and best serve your needs.
A 403(b) plan or tax-sheltered annuity (TSA) is a retirement account for public schools, colleges, and universities as well as for churches and non-profit organizations. While the account works similarly to other retirement plans like a 401k, there are some differences.
Are you familiar with a Health Savings Account (HSA)? If you’re like most people, you’ve heard the term but you’re probably not sure what it is or if it makes sense for you.
If that’s the case, then it’s your lucky day because we’re going to dig into exactly what a Health Savings Account is and, most importantly, why I absolutely love them. So with that, let’s check out a few statistics that just might surprise you.
When it comes to investing, the hype seems to be around the next hot investment and the incredible returns it will surely produce. While that is all good and well (not really), no one ever seems to talk about what not to do when it comes to a good investment strategy.
I truly believe, if you can avoid making dumb decisions, then that will ensure you’re making the right decisions. Investing isn’t about finding the next Apple; it’s about not making those common mistakes so many people can’t seem to avoid.
This post was last updated on June 24, 2023, to reflect all updated information and best serve your needs.
Whether you’re retiring early or your financial circumstances shift unexpectedly, a “72t” withdrawal strategy might be useful. Knowing the full arsenal of penalty-free withdrawal options can help you make your money work for you regardless of what life throws at you.
You can use your annual tax filing as a valuable feedback loop for tax-saving strategies. Many Americans are missing opportunities to learn more about their tax situation. These insights can help you build strategies to save on taxes throughout your lifetime – not just year to year.
The real goal in tax planning is to reduce your total tax bill using tools and strategies allowed by law. You want to pay all the taxes you owe, but you’re not trying to overpay either. Continually reevaluating and reassessing is the key to doing this.
This post was last updated on January 03, 2025, to reflect all updated information and best serve your needs.
Proper planning is crucial to ensure a smooth transition into a fulfilling retirement lifestyle. However, it can be really intimidating when you first get started. You aren’t the first person to retire, so you can draw on the experience of others who’ve walked this path.
As you draw closer to retirement, it’s essential for you to get things filed on time. In many cases, you’ll only have one opportunity to get things right. Other decisions may lock you in for a long time.
No matter what, each decision and deadline as you approach your retirement date is critical. This is why NextGen Wealth specializes in the transition phase of retirement and beyond. If you take the time to lay the foundation of your retirement on solid ground, everything else goes much more smoothly.
Retirement isn’t an individual sport. It takes many key players and essential tools to make the most of your golden years. As the saying goes, “If you want to go fast, go alone. If you want to go far, go together.”
As we watch our beloved Kansas City Chiefs continue another great season, it’s important to understand what it really takes to make a great team. The Chiefs took a long-term approach to success when they signed a $503 Million, 10-year contract with Patrick Mahomes. They understood the value of keeping key teammates in place long-term.
