In this episode of Cornerstone Clips, Joel Ockey breaks down the key differences between pretax and Roth retirement contributions—and how to decide which one fits your financial goals. Learn how pretax contributions can reduce your taxable income today, while Roth contributions offer tax-free withdrawals in retirement. Whether you're planning for a lower tax bracket in the future or aiming for long-term tax-free growth, this quick guide will help you make a more informed decision.
In this episode of Cornerstone Clips, Joel Ockey breaks down the essentials of Roth conversions—what they are, how they work, and when they might make sense for your retirement strategy. Learn the key differences between Traditional and Roth IRAs, how converting can lock in today’s tax rates, and why having cash on hand to cover taxes is crucial. If you're looking to reduce future tax burdens and grow your retirement savings tax-free, this strategy might be worth exploring.
On March 24, 2023, the Washington State Supreme Court released its long-awaited opinion upholding the constitutionality of the new Washington Capital Gains …
Transferring wealth to children will become a touch easier in 2024. Buried in the estimated 4000-page Consolidated Appropriation Act of 2023 that …
In 2019, The SECURE Act changed the rules concerning the distributions from pre-tax Individual Retirement Accounts (IRAs) inherited through beneficiary designation (a …
As Benjamin Franklin once said, “In this world nothing can be said to be certain, except death and taxes.” Taxes come in …
On occasion, you or someone you know might be asked to co-sign a financial obligation for the purchase of a car or …
Parents that have built a successful business and have raised capable children might find the proposition of selling the family business to …
In the old days, the decision to fund a retirement account with pre-tax dollars (Traditional IRA) or fund it with after-tax dollars …
