CALL OR TEXT US NOW: 240-428-1622
Retirement planning often begins with a straightforward question: How much will we need to spend each month? For someone preparing to retire in Palm Beach County, the answer should come from your actual financial life rather than a broad estimate of what retirement in Florida is supposed to cost. The home you own, insurance coverage,…
Sherman Wealth | Financial Education | Gaithersburg, MD and the DC Metro Area Your 30s and 40s may be years when retirement-savings decisions become more important. Income may be higher than it was in your 20s, but expenses may also have grown because of a mortgage, children, college savings, or other competing priorities. Retirement may…
For many young professionals, the future feels far away. Between building your career, paying off student loans, and managing day-to-day expenses, retirement might not be top of mind. But here’s the truth: the earlier you understand how different retirement accounts work, the more flexibility and confidence you’ll have later. If you’ve heard about 401(k)s and…
Saving for retirement without access to an employer-sponsored plan, such as a 401(k), may not be a known option for individuals, but there are plenty of ways to build your retirement savings if this applies to you. Whether you’re self-employed, a freelancer, or work for a company that doesn’t offer retirement benefits, you can still…
The IRS announced the new 2025 retirement contribution limits for 401(k) plans, IRAs and other accounts, increasing several of the contribution limits for savers. This is a great opportunity for retirement savers to increase their savings rate this year. So, let’s take a look. According to the IRS website, “The annual contribution limit for employees who…
While saving for retirement is a great way to build your financial wealth and pile away money for the future, many individuals are unclear on the best vehicles to use when saving for retirement. Furthermore, we have been reading articles and hearing remarks from individuals, especially those of younger generations, that they do not want…
Have you recently left a job, been laid off, or just started a new one? If so, you’re not alone in wondering what to do with your old retirement accounts. This is a crucial topic that often gets overlooked due to a lack of education about the available options, causing many people to lose track…
The recent announcement of Ascensus acquiring Vanguard’s individual 401(k) retirement plan business has sparked questions among plan participants and small business owners on the future of the retirement plans. At Sherman Wealth, we understand the importance of ensuring that your retirement savings are in the best possible hands, which is why we want to discuss…
The IRS announced the new 2024 retirement contribution limits for 401(k) plans, IRAs and other accounts last year, which include increases. This is a great opportunity for retirement savers to increase their savings rate this year. So, let’s take a look. The employee contribution limit for 401(k)s will be increasing this year by $500, to…
Are You HSA eligible? If so, here’s how to take advantage of it during this time of year. While open enrollment season is still here, now is a great time to review and analyze all the options available to you, including an HSA (health savings plan). Many individuals have questions about what benefits they are…