📅💰Last minute IRA Contribution: Save Taxes & Beat April 15th Deadline 📅💰 As the tax filing deadline approaches, many of us scramble to find ways to reduce our tax bills. Our latest video explores a key strategy that can help: making IRA contributions that count for...
ira tax savings
SEP IRA Explained: HUGE Tax Savings for Self-Employed Individuals!
by Retirement Advisor | Jul 31, 2022 | 23 Comments
The SEP IRA is a simple way to invest into your retirement while reaping HUGE tax benefits. The SEP IRA allows business owners to deduct up to $58,000 and put that money towards retirement. This is thousands of dollars more than the $6,000 contribution limit that a standard traditional or Roth IRA...
Retirement Planning
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Retirement Calculator — calculate retirement age
This calculator easily answers the question "Given the value of my current investments and assuming future monthly investments of "X", at what age will I reach my retirement goal?"
The user enters their "Current Age", the "Monthly Amount Invested",the "Annual Interest Rate (ROI)" (annualized Return on Investment one expects to earn) and "Amount Desired At Retirement".
The calculator quickly calculates the user's retirement age and creates an investment schedule plus a set of charts that will help the user see the relationship between the amount invested and the return on the investment. The schedule can be copied and pasted to Excel, if desired.
If you need a more advanced "Retirement Calculator" - one that calculates many more unknowns and one that calculates assuming retirement income and not a final lump sum then try the calculator located here: https://AccurateCalculators.com/retirement-calculator
Currency and Date Conventions
All calculators will remember your choice. You may also change it at any time.
Clicking "Save changes" will cause the calculator to reload. Your edits will be lost.