The article explains that high-earning individuals who exceed Roth IRA income limits can still achieve tax-free growth through strategies like the Backdoor Roth. Rather than simply choosing between account types, the goal is to build long-term tax flexibility by diversifying assets across pre-tax, Roth, and taxable “buckets.”
While many people use Health Savings Accounts (HSAs) as short-term checking accounts for medical bills, their true power lies in treating them as long-term, tax-advantaged investment vehicles for retirement. By paying current expenses out of pocket and allowing contributions to compound tax-free, users can create a significant, dedicated reserve to cover the high cost of healthcare in later life.
Still only using a 401(k) or SEP? You’re probably getting crushed on taxes. If you’re earning over $300k and just using a SEP or maxing out a basic 401(k) for retirement, you might be overpaying the IRS by SIX FIGURES every year. And the worst part?You probably think you’re doing it right. Because somewhere along…
Most professionals believe they’re doing everything right with their 401(k). They’re disciplined.They contribute consistently.They make sure they “max it out” every year. But while that diligence matters, maxing out is not the same as optimizing. At Tannery Company, we review 401(k) strategies for high-earning professionals at different stages of their careers. In more than 90%…
Hey there, Michael here. Happy Friday to our community of savvy financial planners and business owners. Whether you’re just starting your financial journey, navigating the middle stages, or nearing the later years of your life, achieving financial security requires a clear and simple plan. One of the most effective ways to approach this is by…
This Father’s Day is a particularly poignant one for me. I lost my Dad in March, and his absence feels especially acute as we approach Father’s Day. Our Father’s Day is always a time to fire up the grill, tell stories, and perhaps have one or more adult beverages. This year, there will be no…