Dr. Harold Wong For many, most of their liquid assets are inside their traditional IRA or 401(k). However, this is a mistake, because you are creating a ticking tax time bomb. Example: An engineer, age 35, contributes $10,000 a year to his IRA and/or 401(k) each year. He’s in a 25% tax bracket and saves…
Tag: Seminars
Features, January 2025
Dollars & Sense: Do Kids Need College to Become Successful?
Dr. Harold Wong Now that we are in the holiday season, the greatest gift to your kids would be to offer a different path than expensive college so that they can be financially successful. I met a lady who had settled in Scottsdale, was divorced, and owned five rental houses that took 20 years to…
Features, May 2024
Dollars & Sense: Advanced Tax Strategies Allow You to Retire Comfortably
Dr. Harold Wong In an April 9, 2024, article by Megan Henney found in www.foxbusiness.com, “The ‘magic number’ to retire comfortably hits a new all-time high.” It cites a Northwestern Mutual study that Americans believe they need $1.46 million to retire comfortably, up 15% from the $1.27 million number in 2023. “This has surged 53%…
Features, April 2024
Dollars & Sense: Fight Inflation and Afford Your Bucket List Dreams
Dr. Harold Wong Historically, the major American financial dreams are to live in a decent house, help kids with college expenses, and afford bucket list dreams (travel is the number-one bucket list dream in retirement). Since January of 2021, with the Biden presidency, overall inflation has increased 16%. However, inflation has had a different impact…