The Seaside Blog

At Seaside Wealth Management, we understand that one of the greatest fears facing retirees is the possibility of outliving their savings. Ensuring that your money lasts throughout your retirement requires careful planning and consideration of numerous factors. Today, we’ll share key strategies to help you achieve financial security and peace of mind in your golden years. From understanding longevity and managing living expenses to making smart investment choices and timing your Social Security benefits, we’ve got you covered!

Deciding what to do with your old 401(k) when you retire or change jobs can feel overwhelming, but it’s a crucial decision that can significantly impact your financial future. Rolling over your 401(k) into an IRA offers numerous benefits that can enhance your investment experience and help you achieve your retirement goals. Here’s why you should consider rolling over your old 401(k):

With the recent changes brought by the SECURE 2.0 Act, there's exciting news for those with leftover 529 plan funds. Starting in 2024, you can roll unused 529 assets into a Roth IRA for the beneficiary without facing tax penalties. This new option provides flexibility for managing your child's educational and retirement savings. Let’s dive into the details and explore how this can benefit you and your family.

For many people, contributing to a Roth IRA is a fantastic way to save for retirement due to its tax advantages. As long as you are over the age of 59.5 and have had the Roth IRA for at least 5 years, all your distributions in retirement are tax-free. Given the current economic climate, many experts anticipate that tax rates will rise in the near term. Even if no new tax laws are enacted, the Tax Cuts and Jobs Act will sunset after 2025, resulting in higher tax rates. Coupled with the recent federal spending due to the pandemic and increased government debt the likelihood of increased future taxes makes a Roth IRA even more valuable.

Investing in the stock market might seem like a labyrinth, but have you ever heard about direct indexing? It's an investment strategy that places you in the driver's seat, letting you replicate big-name stock indexes like the S&P 500 or the Russell 3000 in your taxable account by directly owning the individual stocks.

Presidential elections in the United States are often regarded as pivotal moments that can shape the future of the country. With each election cycle, investors and retirees may find themselves concerned about the potential impact on their investments and retirement savings. However, it's essential to separate political noise from long-term investment strategies and make informed decisions based on historical data and market fundamentals.