Last updated: 3 Jul 24 23:17:28 (UTC)
Michael's Client Newsletter #145, April 2024
Greetings Valued Clients, welcome to my April Client Newsletter #145 for the goal-focused, long-term, equity investor.
So, how can you legally defer or eliminate taxes on your retirement accounts? IRAs, of course! In the case of traditional IRAs you can delay paying taxes on the interest earned until you start withdrawals at retirement. In the case of Roth IRAs (if you qualify) you never pay taxes on your earnings (it’s the only 100% tax-free account, other than 529-Plans, in America).
You have only two weeks left (April 15th) to contribute to your IRA for 2023. Below are the maximum limits you can contribute based upon your age. However, I can open an IRA for as little as $250, and add as little as $100 to an existing account. Let me know if I can help you do so.
| Year | age < 50 | age 50+ |
|---|---|---|
| 2023 | $6,500 | $7,500 |
| 2024 | $7,000 | $8,000 |
- 401(k) limit increases to $23,000 for 2024
Start Now. Your Future Self Will Thank You.
According to research published by Age Wave (“Longevity and the New Journey of Retirement”, 2022) retirees started saving at an average age of 38. Yet, when you ask them when they should have started saving, they will tell you age 29.
Nick’s April Client’s Corner
Why You’re Not Getting the Return of the SP 500
Every month Nick Murray publishes a one-to-two page client newsletter for the Lifetime Equity Investor. I hope you find it as valuable as I do.
Click the title above or open the attached PDF.
His previous newsletters are here.
Podcast of the Month
Conversations with Mike Gitlin: Featuring Carl Kawaja
Capital Group CEO Mike Gitlin interviews Carl Kawaja, equity portfolio manager and chair of Capital Research and Management Company. Carl shares his thoughts about growing up on a Caribbean island, why he thinks humor is important to making good investment decisions, and how the rise of new weight loss drugs is affecting companies inside and outside the health care industry.
Financial Book of the Month
The Millionaire Next Door
By Thomas Stanley.
The Surprising Secrets of America’s Wealthy. One of the best books I’ve ever read on personal financial success.
Money Memes and a Little Humor
Resources
- My Client Website
- My Philosophy, Financial Checklist & Service Model
- Nick Murray’s 20 Investment Epiphanies
- What the Experts Say about Long-Term Equity Investing
- What the Experts Say about American Funds
- What the Experts Say about Using Variable Annuities for a Guaranteed Income
- Retirement Presentation
- Term Life Insurance Presentation
- Living Trust Presentation
- Previous Client Newsletters
- Subscribe to my Client Newsletter
- Capital Group Podcasts
- Capital Group Articles
- American Funds Client Log-In
- Jackson Variable Annuity Client Log-In
About Me
Michael Paulding Thomas Financial Advisor, Registered Representative, Securities Principal, Series 6, 26, 63, 65, Life
For over 34 years I’ve tried to build my business by offering a second opinion to those who may need investment advice. As a result, my business now comes almost exclusively via introductions from existing clients. So, if you’re approached by a friend who may have questions about investing, please let them know that I will find the time to listen, and I’ll do my best to help.
- [email protected]
- 714.602.3192
Securities offered through Innovation Partners, LLC. Member FINRA/SIPC