Time to Read: 4 Minutes If you and your spouse both have access to an employer-sponsored 401(k) plan, retirement saving is as easy as specifying the pre-tax contribution amount to be deducted from your paycheck. But for many couples, it’s a little more complicated. The decision may be for one spouse to leave full-time
Time to Read: 4 Minutes While IRA contribution limits remain unchanged for 2022, the IRS has increased the contribution limits for many retirement savings plans. For 2022, 401(k)s, 403(b)s, most 457 plans, and the Thrift Savings Plan for government employees and the armed services will see an increase to $20,500, from $19,500. The catch-up
Time to Read: 5 Minutes Before the holiday season gears up, there are some things you should check off your list so you can keep more of what you make and have more in the future. Good financial planning isn’t just about the right investments, it’s about strategic planning around taxes and thinking through
The impulse to help others in need and to share good fortune is universal. When it comes to giving plans that involve donating wealth, the elements of several different dimensions – demographic trends, market performance, advances in financial services,
When planning for expenses in retirement, it’s easy to begin thinking about travel and vacations while overlooking one significant expense – taxes. In Nationwide’s 2021 Retirement Income Survey, 41% of retirees surveyed reported wishing they had been better prepared for taxes leading up to retirement.
Time to Read: 5 Minutes Working during your senior years doesn’t have to be just about income. The National Institute on Aging reports that those who participate in regular physical activity, stay connected through social events, and keep up with a hobby have shown signs of or have reported feeling happier and healthier. Working in your
Time to Read: 4 Minutes The biggest challenge for students and parents when planning for education is the financial costs, which include tuition and academic expenses. There is help – 529 Plans aren’t just for college anymore. K-12 private and religious schools are also eligible. Funds can be used for four and two year colleges, trade schools, graduate programs and some international institutions. Section 529
Time to Read: 5 Minutes Maxing out a 401(k) plan is the foundation of a retirement savings plan. But many local San Diego and national companies offer highly compensated executives the option to participate in an additional deferred compensation plan that can offer the opportunity to save well above the limits on a 401(k)
Tme to Read: 2 Minutes Your financial advisor is the head of your team at BWM. We’ll spend the most time with you, getting to know you and your family and understanding where you are now and what your goals for the future are. But we don’t act alone – we are the quarterback that brings the right resources to
Time to Read: 8 Minutes We’ve created a comprehensive list, in question format, to help you pull together your important tax documents before you begin the tax filing process. These questions are intended to help you gather all your key tax documents, expedite the filing process, and make sure your taxes are reported correctly. 1099s – Do I have all