At Financial Services of America (FSA), one of the most common retirement questions we hear is: “Should I convert my traditional IRA to a Roth IRA?” Like most financial decisions, the answer depends entirely on your personal tax situation, long-term goals, and retirement income strategy. Here’s what you need to know before you consider making […]
Getting older has its nuisances as your health starts to decline, eyesight and hearing can deteriorate, you start having aches and pains in unexpected body parts. However, it does have its perks. Some of those benefits are in the form of tax breaks that come as you get older. Seniors have a larger tax deduction
Retirement is a dream for most Americans. Sure, there are people like Warren Buffett who love to work whereas most people do not. If you’re one of those people who want to retire, the question arises of when a good time to retire might be. Some people will be fine retiring next week while some
After working hard and building a little wealth, it’s incumbent on you to do what’s necessary to protect that which you have accumulated. There are several ways you can protect your wealth, including making wise investments that will help your nest egg grow. As you contemplate how to grow and protect your wealth in the
When it comes to getting ready for retirement, the focus is typically on setting aside enough money and investing wisely so you have enough to not only retire but also thrive. But what many people don’t realize is that you need more than just an impressive nest egg and a solid investment plan to thrive
It is one of the most common questions people ask, and their parents usually ask them. What should I do when I retire? The biggest benefit of retiring is spending time with your family, but what about the rest? It’s not just about skipping work for a day or two. The question is complicated as
Have You Planned for These Key Retirement Factors? Read More »
In the United States, there are many ways to get financial aid to help pay for college. There are scholarships, grants, and even low-interest loans. However, with these options, student loan debt continues to grow. In fact, according to a recent report by the New York Federal Reserve, the average student loan balance has grown
In today’s World, an ever-increasing number of individuals are turning to Individual Retirement Accounts (IRAs) as a primary retirement savings vehicle. The main reason is the flexibility and tax advantages that IRAs offer. There are a lot of different factors to consider when it comes to saving for retirement, and it can be easy to
Required Minimum Distributions: How to Plan Ahead Read More »
The COLA is a Cost-of-Living Adjustment for Social Security beneficiaries. It’s also known as the raise, which helps offset rising living costs so that beneficiaries don’t experience a decline in their standard of living. Seniors spend more on utilities, housing, and healthcare than younger people. In some places, the increase in prices of goods and
I bonds are a form of U.S. savings bond meant to protect the value of an investor’s money from inflation. The U.S. Treasury issued them to safeguard your money from losing value. The interest rates for I bonds are regularly adjusted to caution investors from the ever-rising price of commodities. Additionally, series I bonds are
