Social Security, Pension & Savings Plans

Insights into pension plans, Social Security benefits, 401(k)s, and other savings plans. Learn about the latest updates and strategies to ensure you’re maximizing these critical resources for retirement.

How to Transform Your Retirement with Social Security Options

How to Transform Your Retirement with Social Security Optimization

As you already know, Social Security is one of the greatest assets you’ll have in your retirement. By the time you reach your retirement age, you’ve been paying into the system for years. Your Social Security benefit is your right, and at REAP Financial, we want to make sure you get the most out of your Social Security benefits. Keep reading for the best tips on Social Security options and an overview of a little-known strategy that can be extremely lucrative.

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Retirement Planning Tips for Self-Employed Individuals

Retirement Planning Tips for Self-Employed Individuals

If you’re a self-employed individual, you have more control over your retirement planning than those with regular, W-2 employment income. However, very few business owners are set up properly and know the best ways to save for the future. In this article, we’ll share the top accounts and strategies for recommended business-owners planning for retirement. These are the real strategies we, at REAP Financial, help our clients use to get the most out of their retirement.

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How to Avoid Costly IRA Mistakes

How to Avoid Costly IRA Mistakes

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

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

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

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

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 Use an IRA to Fund Your HSA Leveraging an IRA to HSA Rollover

How to Use an IRA to Fund Your HSA | Leveraging an IRA to HSA Rollover

Health Savings Accounts are one of the most powerful retirement planning accounts out there, if not the most powerful one. Despite this, many people don’t take advantage of them. If you want to take advantage of an HSA, you may be wondering how to fund an HSA.

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Should I Take Social Security at 62

Should I Take Social Security at 62?

Years ago, there were lucrative Social Security claiming strategies, such as file & suspend and restrictive applications, which are not available anymore. Now, it is more difficult to know what strategy is best for you. In the past, standard thinking was that waiting as long as possible was best, since it would maximize your benefit. However, this doesn’t always take into account the taxes you’ll pay on your social security. 

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Strategies for Optimizing RMDs from IRAs

4 Strategies for Optimizing RMDs from IRAs

With our current laws, if you’re approaching ages 73 or 75, you’ll likely be facing required minimum distributions (RMDs) soon. If you have any money in an IRA or 401(k), you have to take RMDs from these accounts when you reach those ages. This means you’ll have to pay taxes on those RMDs. If you’ve saved successfully for retirement, you may not want to take the RMDs since they can create additional taxes, increase your Medicare payments, and more.

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