Category Archives: Broker

Retirement Planning Guide For 401k’s and IRA’s

Broker, Financing, Insurance, Investing, Residential Real Estate, Taxes, Tips, ,
Photo Credit: http://www.moneychoice.org/faq/how-do-you-withdraw-from-a-retirement-plan/
Photo Credit: http://www.moneychoice.org/faq/how-do-you-withdraw-from-a-retirement-plan/

Below is a guide we put together for you to use in assessing the tax implications of different retirement plans, along with the benefits and negatives of each………

401K’S Benefits:

  • Employer matching
  • Higher contribution levels ($18,000 for under 50…$24k for over 50)
  • Contributions are pre-tax (or “tax deferred”)…lower taxable income
  • No income limits for contributions other than earned income must be greater than contribution

 

Negatives:

  • Normal distributions taxed as income
  • Forced distributions at 70 ½
  • Limited to employer fund availability

 

Traditional IRA’s Benefits:

  • Contributions are pre-tax (or “tax deferred”)…lower taxable income
  • You can pick the funds (not limited by employer’s fund managers)
  • No income limits for contributions other than earned income must be greater than contribution

 

Negatives:

  • Normal distributions taxed as income
  • Forced distributions at 70 ½
  • Contribution limited to $5,500 for under 50…$6,500 over 50 (earned income must be > contribution)
  • Contributions may be limited by other contributions (ie-401k)
  • No employer matching

 

Roth IRA’s Benefits:

  • Normal distributions tax-free (contributions & growth)…provides hedge against higher future tax rates
  • No forced distribution at 70 ½
  • You can pick the funds (not limited by employer’s fund managers)

 

Negatives:

  • Contributions are made post-tax so no upfront tax benefit
  • Contribution limited to $5,500 for under 50…$6,500 over 50 (earned income must be > contribution)
  • Income limitations (AGI) of $116-131k for Single and $183-193k for MFJ
  • Contributions may be limited by other contributions (ie-401k)
  • No employer matching

 

Strategy: 401k/Roth IRA Contributions

  • Contribute to your 401k up to employer match amount; and then contribute to a Roth IRA.
  • Always have 6-12 month Safety Fund before contributing to retirement plans
  • Need to plan for unexpected expenses (car maintenance, house repairs, etc.)
  • Need to be able to access penalty-free cash at drop of hat for job loss, health problems, etc.

 

Do you agree with the strategies mentioned regarding 401k/Roth IRA Contributions? Please leave your comments below. We would love your input!

Tips On Choosing an Agent to Sell

Broker, Buying, Financing, Investing, Real Estate Agent, Renting, Selling, Single Family, Tips, , , , , , ,

CN March Blog PicThinking back on when you first sold or bought your home, how did you decide on who you would trust to take you through this experience? Was it from a family/friend referral, the internet, open house, or a complete stranger you met randomly somewhere? Hopefully, the decision made was the right one and if you did your homework, then we are happy that it all worked out in the end. If not, then hopefully this blog can aid you in some way.

 

Below are some tips/characteristics when searching for someone to sell your home because hiring a good listing agent is crucial to your entire experience as a home seller:

  • Experienced and educated with a proven track record
  • Hire someone that will communicate effectively with you and will give good advice
  • Has extensive knowledge of your neighborhood
  • A good negotiator to sell your home for the best possible price and as quickly as possible
  • Someone with a strategic marketing plan (ask to see what that consists of: how many websites will have your property’s info, how many open houses to be held)
  • Someone you can TRUST

 

You can check us off for all of the above and if chosen to be your Listing Agent, we at the Iseley & Walsh Group, are very involved with preparing your home for sale and marketing the property. Most importantly, we value your home just as much as you do and will always provide a comprehensive market analysis.

 

We want to give you the best experience from beginning to end. Not only are we here to do business, but we are here to build a long lasting relationship.

 

Submitted by a guest blogger.