Starting next year, workers age 50 and older earning more than $145,000 will lose a major 401(k) tax break. As Dustin with Mundorf Wealth Management explains to Erin Kennedy, catch-up contributions that used to reduce taxable income must now be made after tax - as Roth contributions. That could mean less take-home pay today, but potentially tax-free withdrawals later.
You’ve heard of asset allocation, but what about asset location? 📍 Where you hold your investments can be just as important as what you invest in when it comes to lowering your tax bill. In this new conversation, Dustin with Mundorf Wealth Management and Erin Kennedy break down 4 simple but powerful strategies that could help keep more of your money working for you:
Age 62 is the earliest you can claim Social Security benefits, but should you? In this video, Dustin with Mundorf Wealth Management and Erin Kennedy talk through what you gain and what you lose when you claim your benefits before Full Retirement Age, including:
Are you thinking about converting your term life policy to a permanent life policy? Many people purchase term life insurance for the affordability and protection it offers during their working years. But as life changes, the question often comes up: should you convert your term life policy into a permanent policy? In this video, Dustin with Mundorf Wealth Management and Erin Kennedy break down what you need to know, including:
As you get closer to retirement, a lot of questions start popping up, but two stand out as the most important to answer before you hand in your notice. As Dustin with Mundorf Wealth Management explains Erin Kennedy to those two questions are:
Big changes are on the horizon, and they could affect your retirement income, taxes, and estate plan. In this video, Dustin with Mundorf Wealth Management and Erin Kennedy break down what’s in the new legislation (aka the “big, beautiful bill”) and how retirees can prepare now to take advantage of the benefits or avoid potential pitfalls.