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Retirement

Traditional vs. Roth IRA

Traditional vs. Roth IRA Traditional Individual Retirement Accounts (IRA), which were created in 1974, are owned by roughly 36.6 million U.S. households. And Roth IRAs, created as part of the Taxpayer Relief Act in 1997, are owned by nearly 27.3 million households.1 Both are IRAs. And yet, each is quite different. Up to certain limits, traditional IRAs allow individuals to make tax-deductible contributions into their account(s). Distributions from traditional IRAs are taxed as ordinary income, and if taken before age [...]

By |2022-11-17T11:16:33-05:00November 17th, 2022|IRA, Retirement|Comments Off on Traditional vs. Roth IRA
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A Bucket Plan to Go with Your Bucket List

A Bucket Plan to Go with Your Bucket List John and Mary are nearing retirement and they have a lot of items on their bucket list. Longer life expectancies mean John and Mary may need to prepare for two or even three decades of retirement. How should they position their money?1 One approach is to segment your expenses into three buckets: Basic Living Expenses— Food, Rent, Utilities, etc. Discretionary Spending — Vacations, Dining Out, etc. Legacy Assets — for heirs [...]

By |2022-07-22T12:05:39-04:00July 22nd, 2022|Retirement|Comments Off on A Bucket Plan to Go with Your Bucket List
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8 Retirement Mistakes to Avoid

Pursuing your retirement dreams is challenging enough without making some common, and very avoidable, mistakes. Here are eight big mistakes to steer clear of, if possible. No Strategy: Yes, the biggest mistake is having no strategy at all. Without a strategy, you may have no goals, leaving you no way of knowing how you’ll get there—and if you’ve even arrived. Creating a strategy may increase your potential for success, both before and after retirement. Frequent Trading: Chasing “hot” investments often [...]

By |2022-06-20T10:59:36-04:00June 20th, 2022|Retirement|Comments Off on 8 Retirement Mistakes to Avoid
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IRA Deadlines

IRA Deadlines Are Approaching Here is what you need to know. April 15, 2022, is the deadline for making 2021 annual contributions to a traditional IRA, Roth IRA, and certain other retirement accounts. This extension from the traditional April 15 deadline follows an extension of the traditional tax deadlines.1 Some people may not realize when they can make their IRA contribution. You can make a yearly IRA contribution between January 1 of the current year and April 15 of the [...]

By |2022-02-18T15:37:04-05:00February 18th, 2022|IRA, Retirement, Roth IRA|Comments Off on IRA Deadlines
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Wise Decisions with Retirement in Mind

Wise Decisions with Retirement in Mind Certain financial & lifestyle choices may lead you toward a better future. Some retirees succeed at realizing the life they want; others don’t. Fate aside, it isn’t merely a matter of investment decisions that makes the difference. There are certain dos and don’ts – some less apparent than others – that tend to encourage retirement happiness and comfort. Retire financially literate. Some retirees don’t know how much they don’t know. They end their careers [...]

By |2022-01-21T16:12:02-05:00January 21st, 2022|Personal Finance, Retirement|Comments Off on Wise Decisions with Retirement in Mind
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Thank you to Salmon Falls Photography in Plymouth for use of their lovely photo in our header!

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Disclaimer

Registered Representative, Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC. Investment Advisor Representative, Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Cambridge and North Light Financial Services are not affiliated. Cambridge does not offer tax advice. Office of Supervisory Jurisdiction: 46 Accord Park Drive / Norwell, MA 02061 Phone: 781-878-4063 Due to various state regulations and registration requirements concerning the dissemination of information regarding investment products and services, we are currently required to limit access of the following pages to individuals residing in states where we are currently registered: CA, FL, GA, HI, KY, IL, LA, MA, ME, NC, NE, NM, OR, RI, SC, TX, VT, WV. If we are not currently registered in your state please email us at info@northlightfinancialservices.com. We may be able to refer you to a representative in your area, or we may become registered in your state, at which time we could further discuss our services with you.

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