Money, taxes and retirement
Bank accounts, taxes, saving, investing, and pensions and benefits from two countries.
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Newest guides (55)
Mega Backdoor Roth – How to Effectively Utilize Additional Contributions?
Are you wondering how to increase your retirement savings? The Mega Backdoor Roth is a strategy that allows you to contribute an additional $40,000 to $50,000 annually to a Roth account. Learn how it works and what the requirements are.
Backdoor Roth IRA – how it works and how to take advantage of it?
Learn how to utilize the Backdoor Roth IRA strategy to save for retirement, even if your income exceeds the limit, with a step-by-step guide and common pitfalls to avoid.
Roth IRA vs. Traditional IRA: Which is Better for You
A comparison of Roth IRA and Traditional IRA according to the rules for 2026: contribution limit of $7,500 ($8,600 for 50+), income limits for Roth and deductions, tax-free withdrawals, RMD starting at age 73 or 75, conversion, and caution with backdoor Roth.
I Have $1.5M and I'm 70 Years Old – Is It Worth Doing Roth Conversions?
Are you wondering if it's worth doing a Roth conversion at 70 years old with $1.5M in pre-tax savings? This guide analyzes the benefits and pitfalls of conversion, considering your financial situation and its impact on future heirs.
I Have $1.1M in 401(k) and IRA – Can I Retire?
Do you have $1.1M in your retirement accounts and are wondering if you can retire? Learn how to apply the 4% rule and what factors may influence your decision.
Does the 4% Rule Still Work? A New Look at Retirement Planning
Are you wondering if the classic 4% rule is still relevant in the context of retirement? Discover how changes in financial markets and longer lifespans affect the safety of your savings, and why new research suggests that 3.3-3.7% may be more appropriate.
Safe Withdrawal Rate: How Much Can You Take from Savings Each Year
The origin of the 4% rule (Bengen's 1994 study: 4% in the first year, then adjusted for inflation, never less than 33 years based on U.S. data) and its limitations, flexible withdrawal rules, RMD at ages 73 or 75 (3.77% balance at age 73, 25% penalty), and taxes on withdrawals.
Sequence of Returns Risk – How to Avoid Disaster at the Start of Retirement
Understand the sequence of returns risk and learn how poor market performance at the beginning of retirement can impact your finances for the next 30 years; discover protective strategies such as cash buffers, bond ladders, and dynamic withdrawals.
How to Prepare Financially 15 Years Before Retirement
Planning for retirement in 15 years? Learn how to prepare financially to enjoy a peaceful life after your career ends with these key steps you should take today.
How to Adjust Your Portfolio 10 Years Before Retirement: Key Strategies
Managing your portfolio 10 years before retirement is a crucial step in ensuring financial stability. Learn how to apply asset allocation principles, build bond ladders, and protect against sequence of returns risk.
Growth or Income Before Retirement: How to Divide Savings
Stocks provide growth, while bonds, interest, and cash provide income, but the key is the allocation between them before retirement. Sequence of returns risk illustrated, SEC rules on allocation and target date funds, interest rate risk, FDIC, Treasury bonds, and I bonds (4.26%).
Retirement Income Planning for Poles in the USA
Social Security, employee pension, 401(k), IRA, Roth, and ZUS pension: how each of these sources is taxed, when withdrawals must begin (RMD at age 73), what changes the repeal of WEP in 2025 brings, and how the order of withdrawals affects taxes and Medicare premiums.
How Does Spousal Benefit Work in Social Security? A Guide for the Polish Community
Learn how spousal benefit works in Social Security, what the requirements are, and how to calculate your benefits. A guide for Poles in the USA to maximize their retirement rights.
Widow or Widower and Social Security: What Benefits Are Available
Survivor benefits from Social Security: 71.5% from age 60 to 100% only at full retirement age, 50% for disability, and 75% for caregivers of children under 16; remarriage after age 60 does not affect benefits.
Social Security for Couples: Spousal Benefits, Widow's Benefits, and Strategies
How Social Security works in marriage: up to 50% of the spouse's PIA at full retirement age, deemed filing for those born after January 2, 1954, end of 'file and suspend', widow's benefits up to 100%, ex-spouse benefits after 10 years, earnings test in 2026, and end of GPO. Numerical examples and decision-making flowcharts.
Retirement: Early, Full, or Delayed? A Comparison of Profitability
Are you wondering when is the best time to start receiving retirement benefits? This guide compares early, full, and delayed benefit options to help you make the best financial decision.
When is the Best Time to Start Collecting Social Security?
Considering when to start collecting Social Security benefits? Learn about the differences between early, full, and delayed collection, as well as factors to consider.
How to Avoid Huge RMDs After Age 73?
Learn how to effectively manage your retirement funds to avoid high Required Minimum Distributions (RMDs) after age 73, and discover strategies you can implement in your 60s.
RMD (Required Minimum Distributions): what it is and how it works
When to start minimum withdrawals from IRA and 401(k): 73 years for those born between 1951–1958, 75 years for those born in 1960 or later. How to calculate RMD from IRS tables, deadlines, QCD up to $111,000, and a 25% tax (10% for quick correction) for failure to withdraw.
How to Avoid the 401(k) Tax Trap in Retirement?
Did you know that a high balance in your 401(k) account can become a tax issue after age 73? Learn how to minimize taxes with strategies such as Roth conversions and QCDs.
How to Lower Taxes in Retirement in the USA?
Learn how to effectively manage your taxes in retirement in the USA and discover strategies to reduce your tax burden and maximize your savings.
Roth Conversion After Age 65 – When Does It Make Sense?
Are you considering a Roth IRA conversion after age 65? Learn when such a decision may be beneficial, especially in the context of large pre-tax balances and estate planning.
Roth Conversion and Medicare – How to Avoid the Hidden IRMAA Trap?
Are you planning a Roth conversion? Learn how it may affect your Medicare premiums and taxes, understand the costs associated with IRMAA, and avoid unpleasant surprises.
How Far Back Does Medicare Look at Income?
Learn how past income affects Medicare premiums; understanding the two-year look-back period can help avoid unpleasant financial surprises.