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Free Retirement Planning Advice

The question sounds simple, but it is tough to answer: At what age should you retire?

I get this question from readers and friends more often than any other. It is difficult to answer because it brings into play such a wide range of issues: Do I have enough money to retire? What will I do with my time in retirement? Will I have adequate medical coverage? When should I claim Social Security?

The answers are highly subjective and personal.

  • Give your investments a year-end tax review

    As year-end approaches, take a closer look at your investment portfolio. There may be some tax-saving strategies worth considering.

  • Retirement planning is important and making changes to your portfolio to maximize your investments may be advisable, but it may also bring on some unexpected taxes. 

  • Supreme Court Protects Inherited IRAs From Creditors

    The Supreme Court ruled that your retirement funds are protected from creditors even if you file for bankruptcy, with only a few limitations. This protection extends to funds in all government-qualified pension plans, including IRAs (traditional and Roth), 401(k)s, 403(b)s, Keoghs, profit sharing, money purchase, and defined benefit plans.

  • Everyone wants to boost their retirement savings and tax breaks can be a big help.  One good idea is to use a traditional IRA to build your nest egg. Be careful.  We have seen a number of people make mistakes,  Here are some of the more common IRA mistakes.

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By Dugan Lopatka - Accountants for Midsize Businesses in Chicago:  CPAs for Small Businesses

  • Addison
  • Aurora
  • Bartlett
  • Batavia
  • Bensenville
  • Bloomingdale
  • Bolingbrook
  • Burr Ridge
  • Carol Stream
  • Chicago
  • Clarendon Hills
  • Darien
  • Downers Grove
  • Elgin
  • Elk Grove Village
  • Geneva
  • Glen Ellyn
  • Glendale Heights
  • Hanover Park
  • Hinsdale
  • Hoffman Estates
  • Itasca
  • Joliet
  • Lemont
  • Lisle
  • Lombard
  • Montgomery
  • Naperville
  • North Aurora
  • Oakbrook
  • Oakbrook Terrace
  • Oswego
  • Plainfield
  • Romeoville
  • Roselle
  • St. Charles
  • Schaumburg
  • Streamwood
  • Villa Park
  • Warrensville
  • West Chicago
  • Western Springs
  • Westmont
  • Wheaton
  • Willowbrook
  • Winfield
  • Wood Dale
  • Woodridge

Dugan & Lopatka, CPAs, PC, 104 E. Roosevelt Road, Wheaton, Illinois 60187 -MAP- T: (630) 665-4440 Fax: (630) 665-5030