3 Tax Optimization Strategies to Remember for Retirement Brogan Financial

As you plan for retirement, it’s important to consider tax optimization strategies to minimize your tax liabilities. Here are three key ways to optimize taxes in retirement. Consider the Tax Structure of Your State and Locality Where will you live? Consider living in a tax-friendly state like Tennessee. [1] Many states offer tax breaks for

Addressing Retirement for Gen X Brogan Financial

A recent study by Investopedia found that Generation X’s biggest worry is retirement. The survey found that although many members of Gen X feel like they understand their finances, they are still concerned about setting themselves up to transition into retirement. Nearly one in four Gen Xers are not sure when, or even if, they

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Jim Brogan, President & Founder of Brogan Financial, joins Phil Williams on NewsTalk 98.7 to discuss the debt ceiling crisis, Memorial Day Weekend, & the latest market news. Click the play button below to listen! https://broganfinancial.com/wp-content/uploads/2023/05/Brogan-WOKI-Interview-Full.mp3 Stay up to date for our latest blog posts! Categories 2020 Election Prep Charitable Giving Economy Estate and Legacy
Target-Date Funds: The Backbone of Many Retirement Accounts Brogan Financial

A target-date fund is an investing tool, often in the form of an ETF or mutual fund, that adjusts its investment strategy based on how much time there is until the target date. The investments are strategized for long-term growth when you are further away from the target date and strategized for wealth preservation the

How have you named beneficiaries on your retirement accounts like 401k, 403b, IRA, etc? Beneficiary designations on retirement accounts supersede anything that is listed in a Last Will and Testament. Beneficiary designations create some opportunities and some challenges. The opportunity is when you name a beneficiary, you bypass probate on those accounts. The main challenge
What if 1 Million Dollars Isn't Enough to Retire? Brogan Financial

If you are headed toward retirement soon, or you have just retired, you may find yourself wondering, “Is my nest egg enough?” It’s a common question and one that causes a lot of people a lot of reasonable anxiety. Because retirement finances are much more about prediction than they are about facts and assurances, it

How Long Can I Keep My Money in My Retirement Account? Brogan Financial

In most cases, you can’t actually keep your money in your retirement accounts forever. Even if you don’t need the money from your retirement accounts, many of them will require you to begin withdrawing from them when you are 73 years old.[1] This is called a required minimum distribution (often shortened to RMD). More specifically,

hallerin hill

Jim Brogan joins Hallerin Hilton Hill on NewsTalk 98.7 to discuss the debt ceiling, how the banking crisis has impacted the economy, and more. Click the play button below to listen!      

5 Tips to Help Alleviate Financial Stress Brogan Financial

The financial stresses of the past few years can lead to a learning moment that we can use to make ourselves more financially literate and more prepared for the future. Guaranteed Interest Options As interest rates have increased and banks have had some challenges, it may be time to look at guaranteed interest options available

What Matters Concerning Your Money in the Bank Brogan Financial

With the recent turmoil in the banking sector, it’s understandable to worry about your bank savings. But before worrying, it’s important to know how your money in the bank is protected. So, how safe is your money, really? Where is my money? First, let’s talk about how your bank actually stores your money. When you

Financial Literacy: Exploring The Difference Between an Investment and an Expense Brogan Financial

In theory, the definitions of an investment or an expense are quite clear-cut. An expense, or cost, is simply the dispensing of time, money, or resources. An investment, while an expenditure, comes with the expectation of a return.[1][2] While the two ultimately have the same goal—to acquire a good or service—their intentions and outcomes differ.

5 Tips for Proper Tax Filing Brogan Financial

With the new year in full swing, tax season is just around the corner. Filing federal income taxes can be a long and complicated process, and mistakes are bound to happen here and there. As many of us know, these small mistakes can cost you big in tax returns and penalties. That’s why it never