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Category: High Income

New Year’s Resolutions for High Income Earners

By Lineweaver Financial Group
January 17, 2017 Category: High Income, Tax Planning, Financial Strategies

Happy New Year! Its time to make your 2017 resolutions, and we believe that one of the smartest things that you can do in the new year is to resolve to learn more about all the ways you can be handling your finances. Thats an especially important task for high income-earners, and so, to help you keep those financial new years resolutions, we at Lineweaver Financial Group have some tips to help you this year. 1. Pay taxes now rather than later on retirement accounts: Many high-income earners, or those on their way, will likely be in the top tax bracket even after retirement when they consider any pensions, investment income or other income accumulated over time. That means any deferred income put into a traditional 401k may be taxed at the highest rates in the future. Consider using a Roth 401k if your company offers it. The Roth 401k has a few distinct advantages over a traditional 401k for those with high incomes: 1. There is no income limit to making Roth 401k contributions, unlike

Five Year End Strategies for the High Income Earner

By Lineweaver Financial Group
December 21, 2016 Category: High Income, Tax Planning, Financial Strategies

If your annual household income is $200,000 or more, you have some unique financial challenges. While in many ways, you have the same needs as other people saving for retirement, childrens college funds, and making sure that your family is insured for the various challenges that life can throw at you - you also have needs and strategies to consider that many people do not. Here are a few tips that we at the Lineweaver Financial Group suggest, and a few things to consider in your planning. 1. Concentrated Stock Positions Its relatively common for higher income earners to receive a significant part of their income concentrated in employer stock or options as a way to encourage employees to grow the company. While this is great as long as the stock keeps going up, there are often strict rules about selling, which can tie up your money and can over-expose your financial portfolio to the risks inherent to your industry. We usually recommend that you keep no more than 25% of your portfolio

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