Entries by Aaron Skloff, AIF, CFA, MBA
Jumbo Roth IRA 2019
Click to Enlarge Create a Jumbo Roth IRA with a Tax Free In-Service Withdrawal and Rollover If you are under the age of 50 you can contribute a combined $56,000 to your employer plan ($19,000 Roth plus $37,000 after tax). If you are 50 or over you can contribute $62,000 ($25,000 Roth plus $37,000 […]
Myth Versus Fact – Medicaid Home Exemption
Click to Enlarge Myth Versus Fact – Medicaid Home Exemption Myth: Under Medicaid, my home is “exempt”.there’s no cure for Alzheimer’s, there’s no need to plan. Fact: Eligibility criteria include a home equity limit, and, most stats recoup long-term care expenditures from beneficiary estates. Source: U.S. Department of Health and Human Services Click Here […]
Maximizing Contributions to Multiple Employer Retirement Plans 2019
Click to Enlarge Maximizing Contributions to Multiple Employer Retirement Plans Then Completing In-Service Withdrawals and Rollovers to Jumbo IRAs The IRS allows you to contribute to multiple employer retirement plans. The IRS places an $19,000 annual limit ($25,000 if age 50 or over) on employee contributions (elective deferrals) cumulatively across 401(k)s and 403(b)s and the […]
IRA Contribution and Income Limits for 2018 and 2019
Click to Enlarge IRA Contribution and Income Limits for 2018 and 2019 Please see these links for articles on Traditional IRAs and Roth IRAs, Backdoor Roth IRAs, Jumbo Roth IRAs, SEP IRAs, SIMPLE IRAs, 401(k)s. Income defined as Modified Adjusted Gross Income (MAGI). Click Here for Your Long Term Care Insurance Quotes
Retirement Plan Contribution Limits for 2019 and 2018
Money Matters – Skloff Financial Group Question of the Month – January 1, 2019 By Aaron Skloff, AIF, CFA, MBA Q: We are ready to get serious about our retirement savings in 2019. What are the contribution limits for various retirement accounts in 2019? The Problem – Lack of Retirement Savings Most pre-retirees recognize they […]
Myth Versus Fact – Saving for Long Term Care Costs
Click to Enlarge Myth Versus Fact – Saving for Long Term Care Costs Myth: I can save enough on my own to cover the costs. Fact: Less then 1/3 of Americans 50+ have begun saving for long-term care. It can be expensive and may endanger your retirement and other savings. Source: U.S. Department of Health […]
