MONARCH MONTHLY
January 2023 Edition
⚟ THE POWER OF 3 ⚞
Today’s headlines to help plan for tomorrow.
Today’s headlines to help plan for tomorrow.
If you’ve ever listened to Schoolhouse Rock, you know that “Three Is A Magic Number”. It was always my jersey number in middle and high school sports, and has been my lucky number for as long as I can remember.
Three is also a big number in the financial world when it comes to Roth contributions. As a business owner, there are three different ways to make Roth contributions, with amounts ranging from $1 to $66,000 per year. 💰💰💰
Wondering what a Roth contribution is?
Curious as to why you’d want to contribute to a Roth instead of a pre-tax account?
Surprised that you can contribute more than $7,500 to a Roth in 2023?
If the answer is “yes” to any of these questions, check out the links below – and if you’re interested in any one of the three options, give us a call.
“If I don’t know my options, I don’t have any.” –Diana Korte
Be safe, and be well.
What should you know about Roths? This article is about Roth IRAs, one of the three options above, but the 11 points that they make apply to all three!
Pre-tax contributions reduce your taxable income, and you pay taxes down the road. Roth contributions don’t reduce your taxes today, but earnings are tax-free. Which is better? The answer is trickier than you may think!
Two of the three Roth contribution options mentioned above are Roth IRAs and Roth 401(k)s. What’s the difference? And what are the pros and cons of each?
The third option is a EVAC: an Employee Voluntary After-tax Contribution. They’re usually in the same retirement plan as a Roth 401(k), and are similar to the Roth 401(k), with one distinct difference: the overall limit. Looking for large Roth contributions? Look no further.
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“The Poppy Principles” is the 2022 Feel-Good Book of the Year and a perfect holiday gift, sharing stories and insights to help you live your life to leave a valuable legacy.
Breaking down retirement plans into bite-size pieces
Discussing retirement, investment, insurance, and more!
Discussion of the latest news, tips, and trends in financial planning.
We’re pleased to announce that we are a corporate sponsor of the Loveland InterFaith Effort (LIFE) Food Pantry!
After organizing multiple benefits for the Food Pantry through our Run/Walk for a Reason events, we felt the need to take it one step further, and become a Corporate Partner!
LIFE Food Pantry is a faith and community supported organization that provides food, financial assistance and programs to those experiencing hardship. It’s supported by area churches, schools, businesses, and numerous neighborhoods throughout the Loveland area, and is a critical resource to our neighbors in need.
Looking to volunteer, or donate? Check out their website through the link below – there are multiple ways to help out this incredible organization!