Tax Hacks: The Backdoor Roth 401(k)

Sure, you may be familiar with a backdoor Roth IRA, but have you heard about it’s bigger and much better brother, the backdoor Roth 401(k)? Can I interest you in saving over $50,000 a year in your 401(k), all of which is tax-free income? No, this strategy is not for everyone, but those who want to really max out their savings, the backdoor Roth 401(k) … Continue reading Tax Hacks: The Backdoor Roth 401(k)

4 Reasons to Make Roth Contributions in Your 50s and 60s

If you are under the age of 40, making Roth IRA or 401(k) contributions is a no brainer. Putting money into a Roth account that can grow tax free for the rest of your life is a fantastic benefit and the earlier you start contributing, the better. How if you are just a few years from retirement, or even in retirement, does making Roth contributions … Continue reading 4 Reasons to Make Roth Contributions in Your 50s and 60s

6 Things You Should Do The Year You Retire

It’s your last year of work. You’re spending more time looking at the countdown to retirement clock app on your phone than the excel spreadsheet that should have been completed a week ago. Still, you aren’t done yet, and there is still planning that needs to be done. You have already determined when you will draw social security, what healthcare will look like and where … Continue reading 6 Things You Should Do The Year You Retire

The 10-Minute Retirement Budget

You know that having an idea how much you will spend in retirement is important, but you also are probably dreading actually putting together a budget.  Maybe you have been given a big blank budget and asked to fill it out.  You know the kind, it lists things that most of us typically spend our money on; food, travel, cars, etc.  And then there is … Continue reading The 10-Minute Retirement Budget

4 Steps for Creating a Pre-Retirement Investment Strategy

So, you want an investment strategy with almost unlimited upside but limited downside risk? Let me tell you about the LowVol Retirement Income Maximization Investment Strategy. It is a covered call option strategy in which we use the income from selling the call to buy a put. Selling the call allows us to realize almost all of the upside and the put option limits the … Continue reading 4 Steps for Creating a Pre-Retirement Investment Strategy

How Long Does a $1 Million Retirement Savings Last in Michigan?

I grew up in Michigan and absolutely love it here.  I’ve lived in Michigan essentially my whole life outside of an eight year ski trip that I took to Colorado.  I was lucky enough to meet my wife in Colorado and after getting married, we had some decisions to make.  We knew we wanted children and we also knew we wanted to live closer to … Continue reading How Long Does a $1 Million Retirement Savings Last in Michigan?