Funding and Savings Order (by type of account)
for example, first contribute your match to 401k, then fund HSA, then fund rest of 401k, then IRA for Roth Conversion, then low cost annuity, then....
Comments: 9
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08 Apr, '20
James HindesYes. For example, I just translated Kitces' article (https://www.kitces.com/blog/hierarchy-tax-preference-savings-vehicle-roth-high-income/) into a series of coaching slides for clients. Would be great to have a flow for this sequence/hierarchy.
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20 Jun, '20
Jonathan Elks MergedMaybe combine with savings checklist
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09 Jun, '22
ChrisGranger Admin"Showing the Benefit of Savings in Different Tax Buckets" (suggested by Amy on 2020-02-07), including upvotes (1) and comments (0), was merged into this suggestion. Original language from this merged suggestion: "for example IRA, Roth, NQ, etc."
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09 Jun, '22
ChrisGranger Admin"Are you saving enough workflow? Are you on track?" (suggested by Todd M. on 2019-01-21), including upvotes (8) and comments (0), was merged into this suggestion. Original language from the merged suggestion: "There are several different ways to look at this:
1) How much gross income do you want per year in retirement? Less household SS benefit, less pension, less other income = income you need to provide each year from investments. Divide by 3% or 3.5% or 4% to get nest egg needed. 2) JPM estimates for income/age/ wealth. 3) Millionaire next door estimate for wealth (household income x (age x 10%). Add checklist for a plan if you are not on track. How do you save more?" -
09 Jun, '22
ChrisGranger Admin"Emergency Savings" (suggested by David Shimana on 2022-02-18), including upvotes (1) and comments (0), was merged into this suggestion. Original language from the merged suggestion: "Hello,
How about a checklist giving someone some tips on establishing an emergency savings account? How much is recommended? Why emergency savings is recommended? Where the account can be established, etc. Thanks for considering my request." -
13 Jun, '22
ChrisGranger Admin"Funding Roth IRA versus 529" (suggested by Victoria Roberts on 2018-08-13), including upvotes (37) and comments (0), was merged into this suggestion.
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15 Jun, '22
ChrisGranger Admin"Should I have a larger emergency fund?" (suggested by timothy r guthrie on 2018-10-12), including upvotes (3) and comments (1), was merged into this suggestion. Original language from this merged suggestion: "analysis of client cash position to prevent excess cash holdings or insufficient reserves."
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16 Jun, '22
ChrisGranger Admin"FDIC / NCUA Insurance Protection" (suggested by Richard on 2018-09-28), including upvotes (3) and comments (0), was merged into this suggestion. Original language from this merged suggestion: "How much government protection does a person have at their bank with their multitude of account types."
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16 Jun, '22
ChrisGranger Admin"What should i do if we have too much money in a 529 plan?" (suggested by Chris Leap on 2021-09-21), including upvotes (2) and comments (0), was merged into this suggestion.