Year End Planning: It’s Not Too Early (Part 1)

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Join us for a two-part episode where we unpack our 2023 edition of key year-end planning strategies for those nearing or embracing their retirement years. With the holidays right around the corner, it is the perfect time of year for these conversations. Listen in as we cover a range of topics, from IRA and 401k contribution limits to Roth IRA conversions and charitable giving options.

Join us for a two-part episode where we unpack our 2023 edition of key year-end planning strategies for those nearing or embracing their retirement years. With the holidays right around the corner, it is the perfect time of year for these conversations. Listen in as we cover a range of topics, from IRA and 401k contribution limits to Roth IRA conversions and charitable giving options.

To kick off this discussion, Don will share an interesting article that he found about online scammers that are posing as airline customer service employees on social media. Don and Marc discuss a few ways to protect yourself from such scams before diving into some financial considerations as the year comes to a close. Don’t miss part two for even more year-end financial planning tips!

Here’s some of what we discuss in this episode:

  • Medicare open enrollment, Social Security COLA changes for 2024 + and the new Medicare Part B premium
  • Changes to the Required Minimum Distribution (RMD) age
  • Making qualified charitable distributions (QCDs) from IRAs and their benefits in reducing taxable income
  • What are the contribution limits for retirement accounts like 401(k)s and IRAs?
  • Initiating financial decisions early to avoid potential year-end complications

 

Additional Resources

Wall Street Journal Article:

https://www.wsj.com/lifestyle/travel/airline-customer-service-scam-twitter-x-e1879760?mod=Searchresults_pos1&page=1

 

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ABOUT YOUR HOST...

Donald W. Cash – CPA, CFP®, is an independent advisor. After graduating from Rutgers University, he began his career in 1985 as an accountant. In 1990, he entered the field of Estate Planning, concentrating on long-term care planning. Don has been advising clients in the baby boomer and retirement market for 20 years. He has helped over 1,000 families with their planning needs.

Don advocates for a holistic approach to Estate and Financial Planning and has relationships with other professionals including Attorneys, CPA’s, Mortgage Specialists, Insurance Specialists and Asset Managers.

He is married to Cathy and they have 4 children, Carly, DJ, Nick and Tori. They live in Freehold, NJ.

Don't Stop Here...

Driverless Cars, Missed Medical Expenses & Tax Breaks

In our last episode, we teased a discussion about long-term care insurance deductions and health savings accounts but ran out of time. Don’t worry though, because today we’re diving deep into these important topics.

WAYS TO CONTACT

(732) 784-2867

don@donaldcash.com