Retirement

Tax Traps to Avoid in Retirement

Submitted by Desmond Wealth Management, Inc. on January 28th, 2019

“Our new Constitution is now established, and has an appearance that promises permanency; but in this world, nothing can be said to be certain, except death and taxes.”

It’s a quote that comes to us from Benjamin Franklin, who uttered the phrase in 1789.

5 Steps to Reducing Health Care Costs in Retirement

Submitted by Desmond Wealth Management, Inc. on May 28th, 2018

Health care costs will be the biggest expense for most retirees. It’s not a pleasant prospect, but it is a reality.

Is Now the Time to Convert your IRA into a Roth?

Submitted by Desmond Wealth Management, Inc. on March 5th, 2018

There are many different ways you can shelter your savings from taxes. It is a powerful incentive for us to save for retirement.

Options give us choices, but choices can confuse as options proliferate.

12 Smart Planning Moves to Consider as Tax Reform Looms

Submitted by Desmond Wealth Management, Inc. on December 11th, 2017

It’s hard to believe, but another year is almost behind us. With January just around the corner, now is a great time to review various items you may want to consider as you get set to enter 2018. Many of the IRS publications referenced below are for tax year 2016. Changes are not anticipated when 2017 guides are published.

Avoiding 8 Big Mistakes in Retirement

Submitted by Desmond Wealth Management, Inc. on December 4th, 2017

Tens of millions of Americans are looking forward to the day they retire. Others enjoy their profession and can’t imagine a life without work. Yet, even those folks recognize that one day they won’t wake up on a Monday and head into the office.

Financial Planning - Helping You See the Big Picture

Submitted by Desmond Wealth Management, Inc. on October 3rd, 2016

Do you picture yourself owning a new home, starting a business, or retiring comfortably in the near future? These are a few of the financial goals that may be important to you; however, each comes with a price tag attached.

Avoid Estate Taxes, and Plenty of Other Taxes, with a Plan!

Submitted by Desmond Wealth Management, Inc. on June 15th, 2016

Words like "hero" and "icon" get tossed around pretty casually these days, but the world lost a true card-carrying legend, last week, with the passing of boxer Muhammed Ali, after a long and public battle with Parkinson's disease. Ali first gained fame in the ring, of course, floating like a butterfly and stinging like a bee.

Back-Door ROTH IRA Strategies

Submitted by Desmond Wealth Management, Inc. on March 10th, 2016

There are several strategies for moving money into tax-free accounts, however, that may not always be the best choice for you. Having blended retirement accounts make sense when trying to minimize taxes and maximize sustainability.

How to Get Money Into a Tax-Free Account

There are three ways to get money into a tax-free, or ROTH IRA account.