Retirement Planning
Now Might Be a Good Time For a Roth Conversion
Submitted by TLWM Financial on June 28th, 2023
One silver lining in the current market is that this could be a good time to convert assets from a traditional IRA to a Roth IRA. Converted assets are subject to federal income tax in the year of conversion, which might be a substantial tax bill. However, if assets in your traditional IRA have lost value, you will pay taxes on a lower asset base when you convert.
The FIRE Method: What It Is & How To Do It
Submitted by TLWM Financial on June 28th, 20236 Retirement Tips for the Sandwich Generation
Submitted by TLWM Financial on June 28th, 2023
Adults caring for aging parents and children simultaneously have now become known as the "sandwich generation." While each generation comes with its own array of financial challenges, the sandwich generation often feels a tight financial squeeze as they juggle the cost of care for their elderly parents with care for their children.
Financial Planning Challenges and Strategies for the Sandwich Generation
Submitted by TLWM Financial on May 25th, 2023A Year-End Tax Planning Checklist
Submitted by TLWM Financial on November 14th, 2022
For many of us, a new year is an opportunity for fresh starts and discovering the best versions of ourselves, but some things—like tax contributions and retirement deadlines—don't change much, if at all. And with that shiny new year right around the corner, meeting end of year deadlines and getting tax efficiencies in place now may prepare us for a smoother transition.