Bedel Blog

Each company’s plan will differ from others. It’s important to talk with a financial advisor to help advise what the best option is, how much to contribute, and what investments you should use.

Between now and April 15th, millions of taxpayers can make a 2024 or 2025 IRA contribution. Understanding the nuances of Traditional and Roth IRAs can potentially lead to tax savings.

Each method has its own rules and consequences for breaking them, so it is best to solicit advice from a financial advisor and consult with your tax professional/accountant to help determine which method is best for your personal situation.

The rules and strategies centered on saving for retirement in a tax-efficient manner fade to a distant memory, and a new set of rules around spending and withdrawing sink in.

The benefit of traditional contributions is that you receive an above-the-line deduction for the cumulative amount contributed each year, meaning that the amount contributed is deducted from your income before calculating your adjusted gross income (AGI).

Fears of Social Security totally going away are unfounded. However, changes are inevitable for a program on an unsustainable course. The big questions are when the changes will come through and how they will impact workers and retirees.

This is a long-term investment. Your child will probably not fully appreciate your generosity today, but as they grow, so will the account and (hopefully) their gratitude!

As you prepare for retirement, whether that’s in 25 years or two months, it’s important to keep your eye on what’s important. Develop strong habits (but not too strong!) early on for optionality that works in your favor.

Although everyone's financial situation is different, it's typically beneficial for an employee to participate in these programs—especially if you are optimistic about the future growth of your company.

You are probably already aware of the perils of credit card debt. Credit cards are relatively easy to obtain and super easy to use. But they come with a big catch - credit card debt is usually very expensive. It should therefore be avoided whenever possible.

In late December of 2022, Congress passed, and President Biden signed the $1.7 trillion omnibus spending bill. One part of the bill is the SECURE 2.0 Act, which expands on the original SECURE Act of 2019 by enhancing many features related to investors.

The “Roth Conversion Ladder” strategy isn’t for everyone, but anyone considering early retirement should know about it. Pay the tax early, let the funds grow, count to five (years), and withdraw your principal both tax and penalty-free.

Responsibly managing your finances requires ongoing diligence. It isn’t enough to select good investments and then forget about them. Take time to review your portfolio, both as individual components and as a whole.

Retirement is a numbers game. Know your numbers and turn in your retirement notice with confidence. If you don’t feel comfortable running the numbers yourself, hire a financial planner to do the work for you.

Dreaming of retiring in your 30’s or 40’s but not sure that could be your reality? The FIRE movement (Financially Independent Retire Early) is increasing in popularity, but there are definite pros and cons to the movement. Be sure you’ve critically assessed your financial situation, and that your financial plan is structured to provide you the means for early retirement. We have the details…

Not all target-date funds are the same. Investors choose a fund that roughly coincides with their planned retirement year, and over time, the funds adjust their holdings and become more conservative.

It’s stressful to know that your parents haven’t prepared for retirement. It’s even more stressful to think that they may depend on you financially.

It’s unclear when things will be able to return to normal. So, how do you financially plan through periods of absolute uncertainty?

The past week has seen volatility creep back into the stock market, and after a long run of positive returns, investors now have to ponder how much risk is too much. What should you do?

Could a market correction negatively impact your retirement accounts? A self-directed IRA would provide an opportunity to incorporate non-traditional investments into your retirement portfolio, but make sure you do your research before jumping in.

Do you aspire to retire at the age of 50? If so, you’ll need a fool-proof plan. In no special order, we have listed below the essentials to an early retirement.

Times have changed. Your parents may have worked for the same company their entire career, but we’re in the day and age of job-hopping.

Retirement changes are on the horizon with the House’s passing of the SECURE (Setting Every Community Up for Retirement Enhancement) Act. The act is designed to encourage saving for retirement and promote long-term financial stability. Read on to see how the proposed changes might affect your retirement planning, and when the bill could go into effect if it passes the Senate.

Retirement party – check. Packing up your office – check. Saying goodbye to your colleagues – check. So now what? Many people might answer “Visit the grandkids, travel, and do all the things I didn’t have time to do when I worked.” But what will your daily life look like in retirement? It’s just as important to plan your daily activities as it is those special times you’ll spend during your golden years, so be sure it’s part of your overall retirement plan.

While any divorce comes with complexities, gray divorce comes with a unique set of issues to consider. And because gray divorcees are generally closer to retirement, there’s limited time to rebuild any wealth lost during the divorce process. It's important to understand the most impactful areas of gray divorce settlements so you’re not sacrificing your retirement in the process.

Do you have a vision for how you will spend your retirement? If you have a spouse or significant other, does it match theirs?

As financial planners and investment advisors, we see mistakes that employees make when handling their 401(k)s. Four such mistakes standout as having the greatest impact on a comfortable versus not-so comfortable retirement.

It’s time for spring cleaning, and that means tidying up your personal finances! While most think of spring cleaning as straightening up the house and yard, your finances need a regular once-over as well. Our four-point checklist should get you well on your way to spic-and-span finances!

Would you like to retire early? Want to take funds from your retirement accounts early to help make ends meet until your Social Security or pension kicks in? You can – provided you meet the criteria and follow all the rules! We have you covered with all the details!

It’s a new year and a perfect time to review your 401(k) investments. If you are saving aggressively for retirement (and we hope you are), then be sure those dollars are working hard for you. Target date funds are a popular investment option, but you may want to dig deeper.

A recent study puts into question the outcomes of retirement calculators. “Misleading”, “over-optimistic”, and “little help to consumers” are conclusions reached by researchers for the majority of online calculators tested.