David Giertz is a financial advisor based in Florida. He has accrued a vast amount of knowledge regarding retirement and methods to achieve retirement financial success. Since the financial outlook varies from time to time including unexpected fluctuations in the economy. Some of the changes occur annually are predictable, but there are some changes that come out of right field and that’s where Mr. Giertz’s experience comes in handy.
Giertz understands the process it takes to plan for and execute a successful retirement.
He speaks highly of 401 (k) plans as participants are allowed to contribute upwards of $18.5 grand a year and after the age of 50, participants have the ability to make catch-up contributions of an additional $6 grand per year. Done consistently, such contributions will add a very nice financial nest egg to an individual’s retirement plan.
Another source of retirement is making contributions to an IRA (Individual Retirement Account) account. The IRA deductions are being phased out, however, in the tear 2018, as the contributions may not be deductable for certain ranges of income. Single and head of household taxpayers will phase out in a range from $63 K to $73 K and married taxpayers filing jointly will phase-out at a range of $101 K to $121 K if the spouse making the contribution is the one covered by the plan.
When it comes to Roth IRA’s, there are new rules coming for the year 2018 and include not be able to make a contribution to a Roth if the plan owners income exceeds a certain limit. However, the limits will increase a bit in the year 2018, but the phase-out limits will also increase. For taxpayers filing jointly, or married taxpayers filing separately the phase-out ranges are the same as for traditional IRA’s.
Mr. David Giertz also suggests taking a look a5t Health Savings Accounts. Contributions to such accounts are tax-deductible and not subject to capital-gains and dividend taxes. When the account holder reaches the age of 65, the money in the account can be used for anything without penalty.
David Giertz has more than 30 years of financial industry experience. He is a Certified Business Coach and has certified more than 100 business coaches through his coaching enterprise. His educational background includes earning a Bachelor of Science (BS) degree from Millikin University and a Master’s of Business Administration (MBA) from the University of Miami.