Monitoring Your Retirement Readiness

Monitoring Your Retirement Readiness

by Mitchell J. Smilowitz, CPA I’d like to share with you a recent Wall Street Journal article (How to Monitor Your Retirement Readiness, June 28, 2017) that describes several methods for making a back-of-the-envelope calculation about whether you are on track with...
Compounding:  The Eighth Wonder of the World

Compounding: The Eighth Wonder of the World

by Mitchell J. Smilowitz, CPA Retirement is the most expensive purchase you’ll make in your lifetime so it’s crucial that you save enough to afford the 20 to 30 years you’ll likely spend retired. How much of your gross income (your income before paying taxes) should...
What Is a Required Minimum Distribution?

What Is a Required Minimum Distribution?

When you turn age 73, with few exceptions, tax law requires that you begin taking withdrawals, known as Required Minimum Distributions (RMDs), from your tax-deferred retirement accounts.  This includes your Traditional IRAs, 401(k)s and 403(b)s, such as your JRB...