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4 Ways to Set Yourself Up for Early Retirement


By: Paul Keegan via Money Knocking off at 55 is hard but not impossible. Here’s what one young family needs to do to reach their goal. Carlos O. Gomez, 38, wants to retire at 55. To that end, the high school assistant principal from Oceanside, Calif., puts $11,100 of his $106,000 salary into retirement accounts […]

3 Secrets to Maxing out Social Security Spousal Benefits

Couple Social Security

  If there’s one set of rules worth understanding, it’s spousal benefits. Every year, couples leave literally billions of dollars on the table because they make the wrong claiming choices. Here are three secrets to getting this claim right, and how they apply to your situation:   1. To get spousal benefits, the primary earner must file […]

7 Ways Tax Laws Help the Newly Widowed


If you’ve experienced the loss of your spouse recently, know that the tax code has ways to help you at this difficult time. 1. Filing Status If your spouse died this year, you may still file a joint return for the year. This gets you the most favorable tax rates and the largest standard deduction […]

The New Congress and Retirement


  By: Rodney Brooks via USA Today   A new Congress is in session, and a big question is this: Exactly what do they have in store for older Americans and retirees?   Are changes to Social Security and Medicare on the table, as some activists wonder? And, are changes in store for the tax […]

Max Out Your Retirement Accounts in 2014


Here’s a great article by author  Emily Brandon featured in US News & World Report. The article details a variety of different ways to max out your retirement savings in the New Year. If you would like to open a retirement account in the new year call Manna at 703-533-0030 or visit for a free […]

2014 IRA & 401(k) Limits

Virginia 529 College Savings Plan

IRS SETS 2014 IRA AND 401(k) LIMITS The Internal Revenue Service recently announced the following retirement plan contribution limits for the upcoming tax year.   IRA contributions Roth: Remains unchanged $5,500 Traditional: Remains unchanged $5,500 Catch-up:Remains unchanged $1,000 401(k) contributions Remains unchanged $17,500 Catch-up contributions Remains unchanged $5,500   Traditional IRA deductibility phase out –New for 2014 Single Filers […]

2013 Tax Reference Guide

2013 Tax Reference Guid

We’re nearly half-way through the 2013 calendar year and before you know it, it’ll be time to file for taxes. Whether you file yourself or work with a professional, it is important that you keep up to date on changes.   On January 1, 2013, the Senate and the House passed the American Taxpayer Relief […]

Five Retirement Tax Strategies for 2012


1) Contribute the Maximum to Retirement Accounts Although the elective deferral limit for 401(k) and similar plans was increased to $17,000 for 2012, IRA contribution limits remain the same as 2011, at $5,000. IRA owners 50 or older by December 31, 2012 can contribute an extra $1,000 for a total of $6,000 and plan participants […]

Baby Boomers are you Worried about having enough saved for retirement?

Baby boomer

Here’s a simple approach: work just a few years longer. By accumulating more savings and shortening your withdrawal period, you’ll reduce the lump sum needed to generate the necessary income at retirement.  Surveys show that most baby boomers plan to work in some capacity during their retirement years. The question is, should you keep working […]