January 26th, 2024

Important Birthdays Over 50

Most children stop being “and-a-half” somewhere around age 12. Kids add “and-a-half” to make sure everyone knows they’re closer to the next age than the last. When you are older, “and-a-half” birthdays start making a comeback. In fact, starting at age 50, several birthdays and “half-birthdays” are critical for Middle-Class Millionaires to understand because they … Continue reading “Important Birthdays Over 50”

January 26th, 2024

Preparing for the Sunset

When the Tax Cuts and Jobs Act (TCJA) Act passed in 2017, we were told that all of the provisions—lower tax rates, much more generous estate tax exemption—would sunset at the end of 2025. That seemed a long way off back then.  But now it’s 2024, less than two years before what could be a … Continue reading “Preparing for the Sunset”

December 13th, 2023

New Retirement Contribution Limits for 2024

The Internal Revenue Service (IRS) has released new limits for certain retirement accounts for the coming year. Individual Retirement Accounts (IRAs) Traditional IRA contribution limits are up $500 in 2024 to $7,000. Catch-up contributions for those over age 50 remain at $1,000, bringing the total limit to $8,000. Remember, once you reach age 73, you … Continue reading “New Retirement Contribution Limits for 2024”

August 16th, 2023

Navigating Retirement Pitfalls

Much is written about the classic financial mistakes that plague start-ups, family businesses, corporations, and charities. Some classic financial missteps have been known to plague retirees, too. Calling them “missteps” may be a bit harsh, as not all of them represent errors in judgment. Either way, becoming aware of these potential pitfalls may Middle-Class Millionaires … Continue reading “Navigating Retirement Pitfalls”

July 26th, 2023

Insurance Needs Assessment: For Empty Nesters and Retirees

With the children now out of the house, financial priorities for Middle-Class Millionaires become more focused on preparing for retirement. At this stage, you may very likely be at the height of your earning power and fast approaching peak savings as you lay the groundwork for retirement. During this final leg to retirement—and throughout your … Continue reading “Insurance Needs Assessment: For Empty Nesters and Retirees”

July 25th, 2023

9 Facts About Retirement

Retirement can have many meanings. For some, it will be a time to travel and spend time with family members. For others, it will be a time to start a new business or begin a charitable endeavor. Regardless of what approach you intend to take, here are nine things about retirement that might surprise Middle-class … Continue reading “9 Facts About Retirement”

June 29th, 2023

9 Facts About Social Security

Social Security’s been a fact of retirement life ever since it was established in 1935. We all think we know how it works, but how much do you really know? Here are nine things that might surprise you. The Social Security trust fund is huge. It was $2.8 trillion at the end of 2022. Most … Continue reading “9 Facts About Social Security”

June 29th, 2023

How Women Can Prepare For Retirement

When our parents retired, living to 75 amounted to a nice long life, and Social Security was often supplemented by a pension. The Social Security Administration (SSA) estimates that today’s average 65-year-old woman will live to age 86½. Given these projections, it appears that a retirement of 20 years or longer might be in your … Continue reading “How Women Can Prepare For Retirement”

June 29th, 2023

Countdown to College

Many middle-class millionaires of course want to give their child the best opportunity for success, and for many, attending the “right” university or college is that opportunity. Unfortunately, being accepted to the college of one’s choice may not be as easy as it once was. Additionally, the earlier you consider how you expect to pay … Continue reading “Countdown to College”

May 16th, 2023

Eight Mistakes That Can Upend Your Retirement

Pursuing your retirement dreams is challenging enough without making some common, and very avoidable, mistakes. Here are eight big mistakes we help our Middle-Class Millionaire clients steer clear of: 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 … Continue reading “Eight Mistakes That Can Upend Your Retirement”