When Would You Like to Start Paying Taxes?
Let’s talk about real life for a minute. Financial discussions can often devolve into philosophical numerical debates that really have no place in reality. Do you want a good theory of how to have more money in your old age, or do you want to have more money in your old age? Let’s ask the […]
For the Successful at Building Wealth, Isn’t a 401k (or any IRA) a Bad Idea?
A similar question to the one we asked yesterday is, “What if you are successful in building wealth, will the IRA tax deferral have been a wise choice?” We have a lot of clients who are in the 25 or 28% Marginal Tax Bracket. Your marginal bracket is the bracket that your last earned dollar […]
How Will Tax Changes Affect Your 401k or IRA?
“A prudent man sees danger and takes refuge, but the simple keep going and suffer for it.” (Proverbs 22:3) Do you believe taxes will go either up or down in the future? We ask this of all our clients, and almost every single one of them believes they will increase. When you look at the […]
The Real Tax Truth within 401k’s and IRA’s
15Then the Pharisees went out and laid plans to trap him in his words. 16They sent their disciples to him along with the Herodians. “Teacher,” they said, “we know you are a man of integrity and that you teach the way of God in accordance with the truth. You aren’t swayed by men, because you […]
Losing Your Velocity
“The simple inherit folly, but the prudent are crowned with knowledge.” (Proverbs 14:18) Another important issue when it comes to being able to access the money that you are stewarding for the Lord is Velocity. We’ve spoken before about the importance of Velocity and I’m sure we will again. Here we’ll simply give a short […]
How 401k’s & IRA’s Limit Both Your Control and Accessibility
Having access to and control over your assets is essential to stewardship. God owns everything, but He’s given you certain assets to steward. This term invokes the Biblical image of a great Lord with many properties and business affairs who puts a Steward (or Manager) in charge of them. (An example: Matthew 25:14-30) Can you […]
How 401K’s and Most IRA’s Limit Investment Options
The vast majority of Qualified Plans (which would include 401(k)’s, 403(b)’s, as well as self directed IRA’s (whether they’re Traditional IRA, Rollover IRA, SEP IRA, or any other) have very limited investment options. Which means you’re not able to invest in the things that you might like to invest in. If the best investment for […]
Disadvantages of Government Retirement Plans (401k’s, IRA’s, etc.)
“Suppose one of you wants to build a tower. Will he not first sit down and estimate the cost to see if he has enough money to complete it? 29For if he lays the foundation and is not able to finish it, everyone who sees it will ridicule him, 30saying, ‘This fellow began to build […]
Retirement Plan Benefits (401k’s, IRA’s, etc.)
There are three major advantages of typical retirement plans. We went over many of the different types of these yesterday and they basically all work the same. The possible advantages that they give you are the following: Deferred Income Tax Your Contributions through an Employer sponsored plan might be matched Government mandated & penalized discipline […]
Retirement Plans
Qualified Retirement Plans (QP’s) are the most common form of Savings in America. They’re the one thing that it seems like most people do. So since most people are involved in them, they must be great, right? Aside from the fact that they don’t seem to be working for most people, many of our clients […]
