Live A Life By Design Blog

Big Changes Affecting Your Retirement

A couple of bills containing significant changes to retirement planning were signed into law by President Trump on December 20, 2019. We will provide just a few of the sweeping changes that affect most of us planning or currently in retirement. The Setting Every Community Up for Retirement Enhancement Act of 2019 (commonly referred to […]

Avoid Mistakes

How To Avoid Common IRA Mistakes

Most retirees have heard the word “IRA” and may not fully understand this retirement savings plan. An IRA, or Individual Retirement Account, is merely a type of account that allows for the owner to grow, tax-deferred, the underlying investments within the account. I often hear people say that “I have an IRA for each year […]

Last Minute

Last-Minute Retirement Planning Ideas

When you look at the calendar and realize another year has passed, it is time for a few more strategies to enhance your retirement account. Some of these actions may seem simplistic in nature but investing is not as difficult as many people would like you to believe. Investing in a diversified portfolio and rebalancing […]

Taxes

Simplifying Tax Filing Status

Every year taxpayers that experience marital change, during the year, are confused about their proper filing status. The Internal Revenue Code (IRC) provides guidance on the qualifications of each of the individual taxpayer filing statuses. Confusion arises when there has been a marriage or divorce during the tax year. Dependents are no longer allowed as […]

Old Time Tax Payment Location - Window

Want Less Stress at Tax Time? Do This!

Are you one of those people who lose sleep at night, suffer anxiety and, generally, feel miserable when it is time to file your individual income tax returns? One of the best methods of experiencing a better way of life is to take charge of the activity. Don’t allow yourself to procrastinate on this important […]

Time is Running Out!

Time is Running Out

As a calendar-year, cash-basis taxpayer, you will have fewer opportunities to reduce your 2019 income tax burden once the calendar rolls over to 2020. By taking a few simple steps today, you will see a better result when you file your income tax return in April, 2020. If you participate in a Flexible Spending Health […]

Thanksgiving

Thanksgiving – Wealth Is More Than Money!

It is that time of year when each of us should pause and reflect on the life we lead in the United States of America. While our nation is far from perfect, the freedoms, opportunities and rights we claim are superior to any other nation on the planet! I am often asked how I define […]

Calculations

3 Mistakes Most People Make With Their Retirement

During my thirty year career of guiding individuals to realizing their retirement goals, I have reduced the most critical of mistakes people commit when accumulating retirement assets in their employer’s plan. These mistakes can be overcome and people have a higher probability of reaching their intended goals. Mistake #1: Making Decisions through Fear Investing should […]

phone, pencil, notepad

Simplify Your Life, Consolidate Your IRAs

Diversification is a common term heard by most investors. However, its true meaning is sometimes lost. Recently, we were meeting with a new client of ours that is retired. When the woman brought her giant, purple, three-ring binder to the first meeting, we were somewhat puzzled. Near the end of our first meeting, she opened […]

Jimmy J. Williams - Coaching Image

It’s That Time of Year for IRA Owners

For many years you saved taxes by contributing to your Individual Retirement Account (IRA) or employer-provided retirement plan. Now, it is time to retire and the IRS says, “Do you remember all of the tax savings you realized for the past 35 years? We want it back!” Perhaps this is a bit extreme but there […]