A TFRA is a retirement savings plan that works similarly to a Roth IRA. You pay taxes on the money going into the plan, and the growth on your money is not taxed. However, unlike a Roth, a TFRA does not have Internal Revenue Service-regulated restriction on how or when you take money from your account.
When discussing retirement plans with my clients, I always discuss taxes. Taxes can make a huge difference in your income during your retirement years. I believe my clients need to develop retirement strategies that address taxation while providing sources of supplemental retirement income. Here are some of the specific topics I discuss with my clients.
One of the most debated financial questions of modern times is whether you should prioritize paying off your home mortgage over planning for your retirement.
As a life planner and business coach, I find one of the main things people lack is a basic understanding of financial principles.
The beginning of a new year is a great time to make financial changes we have long delayed or avoided. Here are 21 ideas that may help you manage your hard-earned money better.