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Works Written by Dr. Wong

No Good Reason Not To Convert To A Roth IRA

My February 02, 2022 Ahwatukee Foothills News article was titled “Traditional IRAs can be a Tax Time Bomb!” The more your traditional IRA or 401k grows, the more the eventual tax, either through Required Minimum Distributions (RMDs) that start at age 72;

Traditional IRAs Can Be a Tax Time Bomb

Americans are not big savers. Prior to the last two Covid years, 7.78% of after-tax disposable income was the average savings rate for the 10-year period from 2010-2019.

Inflation Requires Better Retirement Planning

Inflation is accelerating in America. Recent data shows that the producer price index (a wholesale prices measure) in November, 2021 increased by 9.6% over the previous 12 months, the largest gain on record.

If Inflation Continues To Accelerate For Years

The previous article, “Inflation’s History In U.S. Is Not A Very Pretty Sight”, published 11/03/2021 in the Ahwatukee Foothills News, quoted recent news reports that inflation is a serious concern to most Americans.

Inflation’s History In U.S. Is Not A Very Pretty Sight!

Here are some headlines and key facts from recent articles:

Maximizing Retirement Income Is Important

Most of the financial advice world focuses on accumulating assets and rates of return. Very little time is spent on the effect of stock market crashes on one’s retirement assets; OR how to maximize your income from whatever retirement assets you have saved.

Bridging The Gap Between Retirement Dreams & Reality

A recent 2021 Logica Research survey, sponsored by Schwab Retirement Services, found that 401(k) participants across America now believe they must save $1.9 million for retirement, up from $1.7 million in the 2019 survey.

Saving Can Have Powerful Impact On Retirement

There are only so many variables to any retirement plan: how much you save; your investment return on investment (ROI); how much you lose in taxes; and the income generated by your savings when you retire. There is a final factor, losses in future stock market crashes.

Time for a Mid-year Check on your Financial Condition

Just like a MD often gives a patient an annual or semi-annual physical exam, it’s time for your 2021 mid-year financial check-up. Let’s look at your job situation; real estate; investments; and tax plan.

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