"An excess contribution into a Roth IRA can be a hassle, but it is correctible. The sooner you fix the error, the less painful and less expensive the process will be," writes Jeff Witz, CFP.
Jeff Witz, CFP
"Contribution limits increased for 401(k)s, 403(b)s, and most 457 plans to $19,500, up from $19,000 in 2019," writes Jeff Witz, CFP.
"If you are self-employed, a solo 401(k) is an excellent option for saving for retirement," writes Jeff Witz, CFP.
Avenues for taking distributions vary according to the decedent’s age.
"This time of year presents the perfect opportunity to review and possibly adjust your financial planning strategies," writes Jeff Witz, CFP.
"If your life insurance needs are temporary, then term insurance is likely the most appropriate vehicle," writes Jeff Witz, CFP.
Trusts provide management of assets while minimizing probate expenses, according to Jeff Witz, CFP.
Work out decisions on combined accounts and long-term goals before the big day, advises Jeff Witz, CFP.
Procrastination and lack of an investment strategy can jeopardize long-term success.
"It is important you find individuals you trust who have the expertise to assist you," Jeff Witz, CFP, advises.