ACCOUNTABLE UPDATE
"See Through"
Are you leaving 401(k) meat on the bone?
While we are on the subject of 401(k)s, let’s talk about making sure you are maximizing your potential with yours. First off, the elective deferral maximum for 2018 is $18,500 (plus another $6,000 catch-up amount for those age 50). If you don’t update your deferral percentage, you may not be fully taking advantage of your pre-tax saving opportunity.
A few weeks ago, I discussed Roth IRAs and specifically, the Back Door Roth IRA, as a tactic for high earners to take advantage of the tax-free growth afforded to Roth IRAs. With Retirement Season in full swing, hardly a day goes by that I’m not asked about how to save more while minimizing taxes.
For the next few weeks, I will offer several ways investors may take advantage of lesser known tactics to fatten up those retirement account balances and maybe save some tax money in the process. This week, we’ll start with the Super Roth IRA.
I came down with the flu this week. It started on Monday with some tightness in my chest, and has progressed to fever, chills, cough, aches, and extreme fatigue. It has been a long time since I have been sick like this. I had forgotten how miserable this can be, and honestly didn’t take it as seriously as I should have when my wife recently suggested I get a flu shot. I’m now paying the price for complacency.
After a period of relative calm in the markets, perhaps investors got a little complacent too. While the increase in volatility in the stock market has resulted in renewed anxiety for many, it can be helpful to remember that no matter how uncomfortable a selloff can feel, like the flu, it will eventually pass.
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