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I've got valuable information and resources to share. Explore away! And check back often.

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403b vs IRA (4/4) If you’re currently a professor, or a retired one, it’s important to know how your 403(b) account may differ from an IRA managed by a local advisor. The differences mainly boil down to 1) investment options, 2) fees, 3) employer control, and 4) tax efficiency. See my previous post(s) for more info. 4) Tax efficiency Distributions (i.e., withdrawals) from a 403(b) always come with a mandatory 20% federal tax withholding. However, you may not need to withhold that much, or any at all, for federal taxes. Distributions from an IRA, however, allow you to specify how much money you’d like to withhold for taxation. Likewise, Roth conversions, which may help you and/or your beneficiaries save on taxes long term, may not be possible in a 403(b) at all or simply more complicated. Lastly, if you’re charitably minded and want to donate money to a nonprofit while reducing your tax liability, you might consider Qualified Charitable Distributions (QCDs). QCDs are possible from an IRA; however, you cannot do them from a 403(b). Have questions? Let’s chat. See Thrivent.com/social for important disclosures.

403b vs IRA (4/4) If you’re currently a professor, or a retired one, it’s important to know how your 403(b) account may differ from an IRA managed by a local advisor. The differences mainly boil down to 1) investment options, 2) fees, 3) employer control, and 4) tax efficiency. See my previous post(s) for more info. 4) Tax efficiency Distributions (i.e., withdrawals) from a 403(b) always come with a mandatory 20% federal tax withholding. However, you may not need to withhold that much, or any at all, for federal taxes. Distributions from an IRA, however, allow you to specify how much money you’d like to withhold for taxation. Likewise, Roth conversions, which may help you and/or your beneficiaries save on taxes long term, may not be possible in a 403(b) at all or simply more complicated. Lastly, if you’re charitably minded and want to donate money to a nonprofit while reducing your tax liability, you might consider Qualified Charitable Distributions (QCDs). QCDs are possible from an IRA; however, you cannot do them from a 403(b). Have questions? Let’s chat. See Thrivent.com/social for important disclosures.

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Is early retirement right for you?

Curious how you can start your retirement sooner? Depending on your current income and expenses, it's possible. Here are things to keep in mind when considering if early retirement is right for you. ⬇️

For a growing number of Americans, the idea of working until their mid-60s or later and then kicking back in their remaining years simply isn’t appealing. They...

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Tax tips & pitfalls: What to know to maximize your money

Looking for ways to optimize your income taxes year-round and helpful tips for navigating tax season? From leveraging charitable contributions to common tax errors to avoid, take a look at this helpful guide. ⤵️

Steer clear of costly tax pitfalls by knowing what to watch for. Discover how to unlock valuable deductions, claim key credits, and streamline your approach to...

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“May the God of hope fill you with all joy and peace as you trust in him, so that you may overflow with hope by the power of the Holy Spirit.” - Romans 15:13

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“May the God of hope fill you with all joy and peace as you trust in him, so that you may overflow with hope by the power of the Holy Spirit.” - Romans 15:13

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403b vs IRA (3/4) If you’re currently a professor, or a retired one, it’s important to know how your 403(b) account may differ from an IRA managed by a local advisor. The differences mainly boil down to 1) investment options, 2) fees, 3) employer control, and 4) tax efficiency. See my previous post(s) for more info. 3) Employer control 403(b)s are subject to the rules that your employer establishes on the account. For example, there may be a restriction keeping you from accessing your retirement funds until you separate from service (i.e., quit or retire), even if you are 50 ½ or older. On the other hand, your funds in an IRA are subject only to whatever rules the IRS imposes, possibly giving you more freedom to access them when you choose. Have questions? Let’s chat. See Thrivent.com/social for important disclosures.

403b vs IRA (3/4) If you’re currently a professor, or a retired one, it’s important to know how your 403(b) account may differ from an IRA managed by a local advisor. The differences mainly boil down to 1) investment options, 2) fees, 3) employer control, and 4) tax efficiency. See my previous post(s) for more info. 3) Employer control 403(b)s are subject to the rules that your employer establishes on the account. For example, there may be a restriction keeping you from accessing your retirement funds until you separate from service (i.e., quit or retire), even if you are 50 ½ or older. On the other hand, your funds in an IRA are subject only to whatever rules the IRS imposes, possibly giving you more freedom to access them when you choose. Have questions? Let’s chat. See Thrivent.com/social for important disclosures.

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Did you know you have until April 15 to maximize your IRA contributions for the 2024 tax year? 📅​ Work towards the retirement lifestyle you want to have by saving more now.​ See thrivent.com/social for important disclosures.

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Did you know you have until April 15 to maximize your IRA contributions for the 2024 tax year? 📅​ Work towards the retirement lifestyle you want to have by saving more now.​ See thrivent.com/social for important disclosures.

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Social Security Fairness Act: How the WEP & GPO repeal may affect your benefits

Earlier this year, the Social Security Fairness Act was signed into law. If you or a loved one has ever worked in the public sector, the SSFA may impact retirement income and prompt you to consider some strategy adjustments. Take a look at this resource for more information. If you’d like to discuss how this act may impact your retirement plans, let’s set up a meeting.

Are you eligible for Social Security Fairness Act Benefits? Find out how the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) repeal...

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"The Lord himself goes before you and will be with you; he will never leave you nor forsake you. Do not be afraid; do not be discouraged." - Deuteronomy 31:8

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"The Lord himself goes before you and will be with you; he will never leave you nor forsake you. Do not be afraid; do not be discouraged." - Deuteronomy 31:8

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403b vs IRA (2/4) If you’re currently a professor, or a retired one, it’s important to know how your 403(b) account may differ from an IRA managed by a local advisor. The differences mainly boil down to 1) investment options, 2) fees, 3) employer control, and 4) tax efficiency. See my previous post(s) for more info. 2) Fees Some mutual funds offered by a 403(b) provider may have high expense ratios, while others may be average or even low. In an IRA, you’ll have access to ETFs, which offer a similar diversified investment approach as a mutual fund, but with lower costs. Using lower-cost securities can be important to the longevity of your retirement dollars, particularly if you are also paying an advisory fee. Have questions? Let’s chat. See Thrivent.com/social for important disclosures.

403b vs IRA (2/4) If you’re currently a professor, or a retired one, it’s important to know how your 403(b) account may differ from an IRA managed by a local advisor. The differences mainly boil down to 1) investment options, 2) fees, 3) employer control, and 4) tax efficiency. See my previous post(s) for more info. 2) Fees Some mutual funds offered by a 403(b) provider may have high expense ratios, while others may be average or even low. In an IRA, you’ll have access to ETFs, which offer a similar diversified investment approach as a mutual fund, but with lower costs. Using lower-cost securities can be important to the longevity of your retirement dollars, particularly if you are also paying an advisory fee. Have questions? Let’s chat. See Thrivent.com/social for important disclosures.

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Investing basics: The complete guide for beginners

Investing may seem complex, but learning the basics can help prepare you to take the next step. From terminology 101 to learning how to assess your risk tolerance, this guide will help give you a foundational understanding of investing.​ If you’d like to align your investments with your financial goals, let’s set up a meeting.

Investments can seem complex, but with a foundational understanding, anyone can start building a brighter financial future. Here are the essentials to get you...

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Thrivent and its financial advisors and professionals do not provide legal, accounting or tax advice. Consult your attorney or tax professional.

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