MKR Blog
Key Takeaways: A Roth conversion moves money from a traditional account into a Roth, taxed now in exchange for tax-free growth and withdrawals later. Converting during a temporarily lower-income year, such as between jobs, can let you convert at a lower tax rate. A...
Key Takeaways: RMDs become mandatory at age 73, and missing one can trigger a penalty of up to 25% of the required amount. A new temporary $6,000 deduction ($12,000 for joint filers) is available for taxpayers 65+ through 2028. Investment gains, pension income, and...
With high inflation, high gas prices, and high mortgage rates, it’s no wonder Americans feel like saving for the future is currently an uphill battle. Financial anxiety is up, and many Americans are cutting back on their 401(k) contributions. But for millions of...
If you’ve been sleeping on the Roth 401(k), it’s time for a second look. Yes, they used to come with that inconvenient drawback known as the Required Minimum Distribution (RMD), where you had to withdraw money on a set schedule, whether you needed it or not. But with...
When it comes to reinvesting in their businesses, small business owners are pros. Buying equipment, hiring employees, and upgrading systems tend to come naturally. But setting money aside for retirement? That often gets put in the “later” category. Here’s the problem...
Key Takeaways Not coordinating 401(k)s can cost couples real money. Research suggests couples who don't prioritize the highest employer match may lose an average of $14,000 in retirement wealth over their lifetime — not from saving too little, but from saving in the...
When you retire, you don’t have to move your 401(k) right away, and for many retirees, leaving it where it is could be a smart move. Employers are increasingly adding features that make staying in the plan more appealing. Why? Partly because when employees with large...
More Americans are turning to a 401(k) hardship withdrawal to cover urgent and unexpected expenses. By the end of 2024, about 5% of employees had taken a hardship withdrawal from their 401(k) accounts. That’s more than double the 2% who did so in 2018. With inflation,...
When the Federal Reserve cuts interest rates, it’s good news for borrowers and consumers, but not so much for savers. The Fed’s recent quarter-point rate cut is a reminder that the annual percentage yields (APYs) on savings accounts and certificates of deposit (CDs)...
Recent surveys reveal that Americans spend hours each week thinking about their finances. Rising prices, mounting debt, and uncertainty about the future all contribute to financial stress. Add in steep housing costs, concerns over tariffs raising the price of goods,...
Key Takeaways: Winning new clients matters, but firms that can't retain them must keep replacing lost revenue before growth is possible. Reliability and follow-through, not just expertise, are what build or break client trust over time. Proactive, consistent...
Key Takeaways: Keeping a gap between income and spending, even as income grows, is the foundational habit behind long-term wealth building. High-interest debt quietly drains money that could otherwise go toward saving and investing — paying it down is one of the best...
Key Takeaways: A Roth conversion moves money from a traditional account into a Roth, taxed now in exchange for tax-free growth and withdrawals later. Converting during a temporarily lower-income year, such as between jobs, can let you convert at a lower tax rate. A...
Key Takeaways: RMDs become mandatory at age 73, and missing one can trigger a penalty of up to 25% of the required amount. A new temporary $6,000 deduction ($12,000 for joint filers) is available for taxpayers 65+ through 2028. Investment gains, pension income, and...
Key Takeaways: Customers judge prices relative to context, not in isolation — comparison and framing shape perceived value. Honest scarcity (real low stock, real deadlines) motivates buyers; manufactured urgency erodes trust. Transparency about why prices are what...
Key Takeaways: The OBBBA made most 2017 TCJA tax cuts permanent, avoiding a scheduled tax increase in 2026. New "no tax on tips" (up to $25,000) and "no tax on overtime" (up to $12,500) deductions are now in effect. The Child Tax Credit rose to $2,200 per child, and...
Every veterinary practice deals with the client who shows up unannounced with a sick or injured pet, with no appointment and no call-ahead notice. You’ve already got a full schedule for the day. What now? Walk-ins don’t have to throw your whole day off. With systems...
If you’re nearing retirement and thinking about staying in the workforce, even part-time, you’re not alone. But if you plan to collect Social Security while still working, it’s important to understand how your earnings could affect your benefits. Here’s what you...
Few things create more stress for a small business owner than receiving a notice from the IRS. A tax debt can quickly become overwhelming, but the worst thing you can do is nothing. The good news is that IRS debt doesn’t have to derail your business. The key is...
What builds customer loyalty? Sure, clever campaigns, major sales, and successful product launches can build loyalty, but more often, real loyalty is built in quieter ways. It’s built over time through small, everyday actions that prove your reliability and...