Third Quarter 2024
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Maximizing Retirement cont.
Call Kathy or Niko at 760.439.6960, or contact by email at kathy.chesney@lpl.com niko.z.pandeleos@lpl.com. retirement, you can manage the amount of taxable income you receive and make adjustments when necessary. You can also pay for qualified medical expenses during retirement with any health savings account savings you may have. Those qualified withdrawals are tax-free and won’t affect your taxable income. Avoid Moves That Could Put You in a Higher Tax Bracket RMDs and other changes that bump up your income can result in what’s called “bracket creep,” which is unintentionally slipping into a higher tax bracket. For example, you might receive an inheritance or sell some real estate. A higher income can also affect the taxability of your Social Security benefits and increase your Medicare premiums. This is one reason you may want to consider funding different kinds of retirement accounts during your working years. For instance, you could diversify your retirement contributions and split them between a Roth and traditional (pretax) allocation. During
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This material is for general information only and is not intended to provide specific advice or recommendations for any individual. There is no assurance that the views or strategies discussed are suitable for all investors or will yield positive outcomes. Investing involves risks including possible loss of principal. This material was prepared by LPL Financial, LLC. Securities and advisory services are offered through LPL Financial (LPL) , a registered investment advisor and broker/dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Frontwave Credit Union and Frontwave Investment Services are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using Frontwave Investment Services, and may also be employees of Frontwave Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of Frontwave Credit Union or Frontwave Investment Services. Securities and insurance offered through LPL or its affiliates are: Your credit Union (“Financial Institution”) provides referrals to financial professionals of LPL Financial LLC (“LPL”) pursuant to an agreement that allows LPL to pay the Financial Institution for these referrals. This creates an incentive for the Financial Institution to make these referrals, resulting in a conflict of interest. The Financial Institution is not a current client of LPL for advisory services.
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