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Brandon Renfro

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Brandon Renfro
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Louisiana, United States
Life stage:
SIK (Single Income, Kids)
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Latest Blog Posts

The simple fact that you are retired doesn’t mean you can’t contribute to an IRA. You can still contribute to an IRA if you are retired, but you need to have earned income. This is the same condition you had to satisfy before you retired. Be careful though. Not all income is considered earned income … Can I Contribute to an IRA if I am Retired? Read More »The ...
Posted: Jan 10 2020 @ 12:30 PM
It is possible to retire on 500k in retirement savings, but you’ll need to do some careful planning. There aren’t many universal answers to retirement questions like this one. You need an individualized answer. I’m going to show you a simple process for answering this question. Whether you can or not depends largely on how … Can I Retire on 500k? Read More »The post Can I Retire on ...
Posted: Jan 04 2020 @ 1:04 PM
If you contributed too much to your 401k you may end up owing a penalty. Depending on when you realize that you have contributed too much, you may be able to reverse it. If you do it before the deadline you can avoid the penalty entirely. In this article I’ll explain what you need to … What Happens if I Contribute Too Much to My 401k? Read More »The ...
Posted: Dec 27 2019 @ 4:05 PM
There are two different annual limits on 401k contributions. The elective deferrals limit, and the annual additions limit. Your employer match counts toward one, but not the other. Elective Deferrals Limit The money that you have withheld from your pay to go into your retirement account is an elective deferral. You might see this called … Does Employer Match Count Towards 401k Limit? Read More »The post Does Employer ...
Posted: Dec 27 2019 @ 4:05 PM
A fund of funds is a collection of mutual funds bundled together. By combining different mutual funds into one package, the fund of funds purpose is to give you a single-choice investment solution. You’ll sometimes see a fund of funds abbreviated as FOF. This can simplify your investment process, but you need to understand how … Fund of Funds Explained Read More »The post Fund of Funds Explained appeared ...
Posted: Dec 22 2019 @ 7:46 PM
The market risk premium is the return that you earn on stocks above what you could earn by investing in government bonds. For example, if the rate of return on the market is 15% when the rate on a government bond is 3%, the market risk premium is 12%. A more formal way of defining … What is the Market Risk Premium? Read More »The post What is the ...
Posted: Dec 04 2019 @ 12:18 PM
A 702(j) retirement plan really isn’t a “retirement plan” at all. It’s a cash value life insurance policy sold as a retirement plan. You may have heard the spiel. The promise of a 702(j) plan is tax-free retirement income. It is possible to access the cash value in a life insurance policy tax-free, but there … 702(j) Retirement Plan: Worthwhile? Read More »The post 702(j) Retirement Plan: Worthwhile? appeared ...
Posted: Nov 29 2019 @ 12:03 PM
Tax-gain harvesting may seem counter-intuitive, but it can be an effective way to reduce your total tax burden in retirement. Mindful tax planning is one of the easiest ways to improve your finances in retirement. What makes that true is the fact that current tax rates are known, so any time you make a decision … Tax-Gain Harvesting? Read More »The post Tax-Gain Harvesting? appeared first on Brandon Renfro, ...
Posted: Nov 26 2019 @ 12:31 PM
One of the most common questions I get about retirement is “How long will my money last?” Considering the number one retirement fear for most people is running out of money, that really isn’t a surprise. With that in mind, your money can last as long as you need it to if you plan ahead. … How Long Will My Money Last in Retirement? Read More »The post How ...
Posted: Nov 17 2019 @ 7:53 PM
A multi-year guaranteed annuity, or MYGA, is very similar to a CD. A MYGA pays a fixed rate of interest and is most appropriate when you need a stable return from a conservative investment. Any time I mention annuities I try to make it clear that I am not licensed to sell them. Annuities tend … What is a MYGA Annuity? Read More »The post What is a MYGA ...
Posted: Nov 05 2019 @ 12:09 PM


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