Eye On Money January/February 2024
We invite you to check out the new issue of Eye On Money! Inside are articles on:
What to do in the year before you retire. The decisions you make in the year before retirement regarding your retirement accounts, pensions, Social Security, and other retirement resources may impact you for the rest of your life. These tips and considerations can help with those decisions.
Self-employed? You may be able to lower your 2023 taxes with a SEP IRA. Because this type of small business retirement plan can be set up and funded as late as the due date for your business income tax return, including extensions, there may still be time to make deductible contributions for 2023 that reduce your 2023 taxes.
How to save more in ‘24. If you’ve resolved to save more this year, these tips may help.
RMDs and designated Roth accounts. For 2024 and later years, owners of designated Roth accounts in 401(k), 403(b), and 457(b) retirement plans no longer have to take RMDs from these accounts.
Also in this issue, you can learn about rebalancing your portfolio, repaying student loans, important financial deadlines, and how stock funds are categorized. Plus, you can travel vicariously to Berlin, Germany, discover six national parks for incredible stargazing, and see how much you know about Philadelphia.
Please let us know if you have questions about anything in Eye On Money.
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Robert J. Pyle, CFP®, CFA, AEP® founded Diversified Asset Management, Inc., in 1996 to provide personalized, comprehensive wealth management services to successful individuals, families, single women, and business owners. His specialty is addressing the complex financial needs of self-employed professionals, corporate executives, and small-business owners. Our disclosure can be found here. The views, opinion, information, and content provided here are solely those of the respective authors, and may not represent the views or opinions of Diversified Asset Management, Inc. Diversified Asset Management, Inc. cannot guarantee the accuracy or currency of any such third party information or content, and does not undertake to verify or update such information or content. Any such information or other content should not be construed as investment, legal, accounting, or tax advice.