The military retirement system is one of the most loved – and valuable – benefits available to military members. It is unique in many ways, and one of the few retirement plans in the US which starts paying beneficiaries immediately upon retirement without a standard waiting period or age limit. Unfortunately, it is also a [...]

Planning for retirement can be difficult, whether you are retiring from a military position,civilian position, or a combination of both. However, career military members may have an added benefit most civilian sector employees do not – the opportunity for two retirements: one from the military and one from the civilian workforce. This dual retirement option [...]

Tax season is a great reminder to make retirement account contributions if you don’t do it throughout the year. The good news is that tax laws are written so that you can make contributions for the previous tax year until the tax filing deadline. Even though the calendar year may be over and done with, [...]

An Individual Retirement Arrangement, or IRA, is one of my favorite vehicles to save for retirement because it offers a wide variety of investment choices and lots of tax savings. But when you don’t follow the rules, an IRA comes with hefty penalties. A common mistake is contributing too much to an IRA. What Happens [...]

The maximum amount of money you can sock away in a Roth IRA is $5,000 each year if you are under the age of 50 years-old. If you saved the $5,000 contribution limits every year from the time you graduated college until you retired at the ripe old age of 65, you would be sitting [...]

Opening an Roth IRA is easy, but you have to meet certain requirements in order to eligible for a Roth IRA. For example, you must have earned income, meet specified income limits, contribution deadlines, and open your IRA through an approved IRA custodian, generally a financial institution such as a bank or brokerage firm, or [...]

The IRS offers some pretty awesome tax benefits for people who invest in retirement funds. To entice people to save for their own retirement, the IRS offers people the opportunity to contribute to 401k plans, IRAs, the Thrift Savings Plan, and other retirement plans and defer paying taxes on a portion of their contributions or [...]

Many people start taking Social Security benefits as soon as they are eligible to begin receiving them, which for many Americans is age 62. But just because you can begin receiving Social Security benefits doesn’t mean you should take them right away. For example, you can often increase your Social Security payments by delaying when [...]

The Social Security System offers a great benefit for taxpayers who paid into the system over the years. Unfortunately, it can be a little confusing if you haven’t had time to do a little research into available Social Security Benefits. This should not discourage recipients from learning as much as possible about the benefits which [...]

Are you familiar with Roth IRA Rules? Roth IRAs are one of the most popular retirement plan options around because they offer a wide variety of investment opportunities and exceptional tax benefits. A Roth IRA is a tax advantaged retirement account that allows individual investors to make contributions with after tax dollars into an investment [...]