Supporting your aging parents is one of the most meaningful things you can do—but what happens when their financial needs start to clash with your own? The last thing you want is to jeopardize your own future while trying to help them. Fortunately, with some careful planning, you can strike a balance between generosity and
How to Support Your Aging Parents Without Sacrificing Your Financial Stability Read More »
Your 401(k) is NOT a Retirement Plan
Everyone’s favorite retirement account, the 401(k), is a great way to save, but it is just a tool, not a strategy. As JB explains, without proper planning, you could face unexpected taxes, income gaps, and market risk.
There’s a reason 401(k)s are known as tax time bombs: beyond being tax-deferred (which means you will pay taxes at an unknown and probably higher rate in the future), the Required Minimum Distributions can push you into a higher tax bracket in retirement.
We are living in a historically low tax rate right now, and taxes are set to increase at the end of 2025. If you’d like to work with JB to create tax-free income in retirement, please call (803) 939-4848 or visit www.BeckettFinancialGroup.com.
Your 401(k) is NOT a Retirement Plan Read More »
Recently, stocks closed out their worst quarter since 2022. The S&P 500 and the Nasdaq logged their worst performance since Russia’s invasion of Ukraine.
While these headlines can be upsetting, as JB explains to Erin Kennedy, the market downturn can also provide some very specific opportunities for smart investors, including:
✅ Put Your Cash to Work – Lower valuations let you buy quality investments at a discount for long-term gains.
✅ Consider Tax Loss Harvesting – Selling at a loss can offset taxes now or in the future, turning dips into tax savings.
✅ Roth Conversions – Converting in a down market means paying less tax now and maximizing future tax-free growth.
If you’d like to learn how to take advantage of this market downturn, please feel free to give JB a call at (803) 939-4848 or visit www.BeckettFinancialGroup.com
3 Financial Planning And Investment Opportunities In A Down Market Read More »
Retirees aiming to reduce their taxes in retirement can benefit from strategic conversions and transfers between traditional and Roth Individual Retirement Accounts (IRAs), especially when considering the timing and financial landscape. Identifying optimal windows for Roth conversions can lead to significant tax advantages and may enhance retirement income. Here are key opportunities to consider: During
Is a Roth IRA Conversion in Your Future? Read More »
In 4 Retirement Planning Myths That Could Cost You, we tackled some of the most common financial myths that could be costing you money. In this article, we’re going to debunk three more myths about general personal financial management that could still have an impact on your retirement. Myth 1: Once You Create a Financial
3 General Financial Myths That Could Still Cost You in Retirement Read More »
What if everything you thought you knew about financial planning was wrong? Many well-meaning people fall victim to common financial myths—some of which could cost them thousands of dollars or even their retirement security. Let’s break down some of the biggest myths and uncover the real truths behind smart financial planning. Myth 1: The 4%
4 Retirement Planning Myths That Could Cost You Read More »
Estate planning isn’t something you do once and forget about—it’s an ongoing process that helps ensure your financial affairs are in order and your loved ones are taken care of. One of the most important documents in an estate plan is a will, but over time, things change. Life events, financial shifts, and even tax
The Gift of Financial Health: Best Practices for Keeping Your Will Up to Date Read More »
Tax season can be challenging, especially if one is not financially prepared. While it may seem tedious, preparing beforehand can save time from last-minute hassles and help optimize tax returns. Therefore, adopting certain financial habits before the onset of tax season may help lighten the tax season’s load. 1. Regular expense monitoring—The first habit to
8 Financial Habits to Start Before Tax Season Read More »
People often misunderstand Social Security retirement benefits and taxation since not all benefits are taxable. The amount of benefits one receives and how much Federal tax applies depend primarily on the income level of the receiver and other factors. How to determine if benefits are taxable If Social Security benefits are the only source of
2025 Social Security Benefits and Taxes Read More »
