Why Non-Deductible IRA Contributions Aren’t Worth It
Updated for 2024 – 2025. Investors often ask: should I be making nondeductible IRA contributions? In the vast majority of cases the answer is no.
Category: Retirement Planning
Retirement planning is an essential aspect of financial planning, as it helps ensure you can maintain your lifestyle and cover your expenses when you are no longer working. Darrow advisors share retirement planning insights for executives and business owners. Saving for retirement can include a multitude of strategies including: portfolio income, stress testing a retirement plan, tax planning and bucketing, Social Security timing, pension income, Roth conversions, plans for business owners, risk tolerance changes later in life and more.
What to Do After Maxing Out Your 401(k)
Wondering where to invest after maxing out your 401(k)? If you’re looking for ways to invest after your 401(k) or 403(b) at work, you likely
5 Big Changes to Roth Accounts in Secure Act 2.0
The Secure Act 2.0 was signed into law December 29th, 2022, bringing more major changes to tax law. Among the most notable changes include a
The Best Way to Take Required Minimum Distributions (RMDs)
Updated for 2023. Planning can help optimize annual required minimum distributions depending on your goals and cash flow needs. After the passing of Secure Act
What the 4% Rule Gets Wrong About Retirement Income
The 4% rule is one of the most well-known rules of thumb in personal finance. The premise is simple: retirees can withdraw 4% of their
Living Off Dividends: Another Retirement Myth?
The idea of living off dividends in retirement sounds nice, but it’s challenging. What investors don’t always realize is how much money they’ll need invested
Avoid the Double Tax Trap When Making Non-Deductible IRA Contributions
Updated for 2024. Anyone with earned income can make a non-deductible (after tax) contribution to an IRA and benefit from tax-deferred growth. But it may
Explaining the Backdoor Roth and Mega Backdoor Roth IRA
Updated for 2024. Many individuals have heard of the backdoor Roth before, but the mega backdoor Roth is getting a lot of attention recently. Here
How Much Money Do You Need to Retire Comfortably At 60?
How much money do you need to retire at 60? That depends entirely on how much you plan to spend in retirement. Absent a large
Should You Take an Early Retirement Package? What to Look for in a Buyout Offer
Deciding whether or not to take the offer of a voluntary early retirement package or buyout from an employer is a big decision. Taking an