IRA and Retirement Plan Limits for 2021

Many IRA and retirement plan limits are indexed for inflation each year. While some of the limits remain unchanged for 2021, other key numbers have increased. IRA contribution limits The maximum amount you can contribute to a traditional IRA or a Roth IRA in 2021 is $6,000 (or 100% of your earned income, if less), […]

How Sequence of Returns Can Affect Your Retirement Savings

A brief video comparing the same return with differing results. IMPORTANT DISCLOSURES Dightman Capital does not provide tax or legal recommendations. The information presented here is not specific to any individual’s personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a […]

Estimating Your Retirement Income Needs

You know how important it is to plan for your retirement, but where do you begin? One of your first steps should be to estimate how much income you’ll need to fund your retirement. That’s not as easy as it sounds, because retirement planning is not an exact science. Your specific needs depend on your […]

Reaching Retirement: Now What?

The decision of when and how to tap your Social Security benefits can be complicated. You might want to review your options long before your planned retirement date to be sure you fully understand the pros and cons of each. You’ve worked hard your whole life anticipating the day you could finally retire. Well, that […]

IRS Clarifies COVID-19 Relief Measures for Retirement Savers

Retirees who took RMDs in 2020 have until August 31, 2020, to roll the money back into a qualified account. This rollover will not affect the one-rollover-per-year rule. The Coronavirus Aid, Relief, and Economic Security (CARES) Act passed in March 2020 ushered in several measures designed to help IRA and retirement plan account holders cope […]

Changing Jobs? Know Your 401(k) Options

In some cases, you have no choice — you need to use the funds. If so, try to minimize the tax impact. For example, if you have nontaxable after-tax contributions in your account, keep in mind that you can roll over just the taxable portion of your distribution and keep the nontaxable portion for yourself. […]

10 Years and Counting: Points to Consider as You Approach Retirement

  12019 Retirement Confidence Survey, EBRI 2Note that if you work while receiving Social Security benefits and are under full retirement age, your benefits may be reduced until you reach full retirement age. 3Due to the Coronavirus Aid, Relief, and Economic Security (CARES) Act, required minimum distributions (RMDs) are waived in 2020. 4Working with a […]

2019 IRA Contribution Deadline Has Been Extended

Due to the coronavirus tax filing extension, there’s still time to make a regular IRA contribution for 2019. You have until your tax return due date (not including extensions) to contribute up to $6,000 for 2019 ($7,000 if you were age 50 or older on December 31, 2019). For most taxpayers, the contribution deadline for […]

Personal Financial Vault

Today’s fasted pace world can make it difficult to keep track of all your financial information.  You might want to know your current mortgage balance and when it will be paid off.  Or your Net Worth and what retirement cash flows it is projected to generate.  There are many important questions I help wealth builders answer with […]

Equifax Breach & Securing Your Personal Information

By now you have likely heard about the data breach at Equifax.  We have been here before…numerous times in the recent past consumers have been notified of a massive data breach of personal information at well-known companies.  If you have not done so already, here is where you can check to see if your data […]