Financial Strategies & Lifestyle

Understand how finance intersects with personal choices. From deciding to marry, cohabitate, or stay single, to managing windfalls, explore how life’s decisions can impact your financial health.

How to Avoid Costly IRA Mistakes

How to Avoid Costly IRA Mistakes

Leave a Comment / Financial Strategies & Lifestyle, Retirement Planning & Strategies, Social Security, Pension & Savings Plans, Video /

If you’re saving for retirement, chances are you have an IRA, whether it’s a Roth IRA, Sep IRA, or traditional IRA. All of these accounts are powerful, but even so, it is important to make sure you know how to avoid costly mistakes and tax penalties when taking money out of these accounts. It’s easy to put money in these accounts, but it can be challenging to get your money out wisely. At REAP Financial, we specialize in showing retirees how to get the most out of their retirement savings, including IRAs.

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How to Master the Art of Social Security Timing

How to Master the Art of Social Security Timing

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By the time you reach retirement, you’ve been saving for many years. Naturally, you want to get the most possible out of your retirement, including your Social Security. That is why it’s so important to optimize the timing to maximize your financial success in retirement. At REAP Financial, we want everyone to get the highest possible benefit from their social security. In this article, we’ll cover the art of Social Security timing and how to make sure you time your benefits for the maximum gain, including one of the most overlooked strategies that can cost you big.

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Tax-Free Gifting - 3 Powerful Strategies & Busting Myths

Tax-Free Gifting: 3 Powerful Strategies & Busting Myths

Leave a Comment / Financial Strategies & Lifestyle, Specialized Financial Topics, Tax Insights & Wealth Management, Video /

Many families make gifting an important part of their financial life, by giving charitably to causes they believe in or giving to kids, friends, or families, who don’t qualify as charities. There are a lot of misconceptions about gifting and how to gift money to an individual. In this article, we’ll go over three ways you can gift money to friends and family tax-free.

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Reduce Taxes on Your 401k Company Stock with the NUA Strategy

Reduce Taxes on Your 401k Company Stock with the NUA Strategy

Leave a Comment / Financial Strategies & Lifestyle, Retirement Planning & Strategies, Social Security, Pension & Savings Plans, Tax Insights & Wealth Management, Video /

If your 401k plan includes some of your employer’s stock, you need to understand there are two ways to move employer stock out of a 401k. While some are better than others, at REAP Financial, we want to help you reduce the tax on your distributions as much as possible. In this article, we’ll go over the best strategy to handle company stock in a 401k plan to minimize taxes.

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Uncovering the Secrets - Roth IRA vs. Roth 401k

Uncovering the Secrets – Roth IRA vs. Roth 401k

Leave a Comment / Financial Strategies & Lifestyle, Retirement Planning & Strategies, Social Security, Pension & Savings Plans, Tax Insights & Wealth Management, Video /

At REAP Financial, we always talk about the importance of tax-free investing. You can get tax-free investing through two retirement accounts, Roth 401ks and Roth IRAs. While both of these accounts are vehicles for tax-free investing, there are some key differences between the two you need to be aware of. In this article, we’ll break down the top differences between a Roth IRA and a Roth 401k

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How to Avoid IRA Distribution Risks

How to Avoid IRA Distribution Risks

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While many Americans delay taking their IRA distributions, this can lead to unexpected pitfalls. Many retirees fall into tax traps created by delaying IRA distributions. At REAP Financial, we guide our clients to get the most out of their retirement by planning accordingly. Today, we’ll walk you through why you may not want to delay taking your distributions and the strategies you can follow to get control of your taxes in retirement.

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No More Tax Deferral - A Complete Solution

No More Tax Deferral: A Complete Solution

Leave a Comment / Financial Strategies & Lifestyle, Retirement Planning & Strategies, Tax Insights & Wealth Management, Video /

If you’re not already retired, would knowing you’d be in a higher tax bracket in retirement change how you’re currently saving and investing? Today, we’re going to review why so many successful retirees find themselves in higher tax brackets in retirement, even if the tax rates stay the same. Keep reading to learn why tax deferral isn’t always the best strategy headed into retirement! 

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Increase Your Investment Profits with Tax Savings

Increase Your Investment Profits with Tax Savings

Leave a Comment / Financial Strategies & Lifestyle, Market, Investment & Economic Analysis, Tax Insights & Wealth Management, Video /

If you’re still working, you are likely focused on your savings and investments strategy, so you can grow your wealth. In these situations, the focus normally is on your returns, year over year. However, this doesn’t take into account the easiest way to boost your investment returns: keeping more of your money via taxes.

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Avoid IRS Control - Master Your IRA Strategy

Avoid IRS Control: Master Your IRA Strategy

Leave a Comment / Financial Strategies & Lifestyle, Retirement Planning & Strategies, Tax Insights & Wealth Management, Video /

For most Americans, the day you retire is the first day you have more control over your taxes than any other moment in your past. However, to take advantage of this, you have to know the strategies on how to position your wealth correctly. At REAP Financial, we want you to be set up correctly, so the IRS doesn’t dictate your IRA strategy!

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