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How does your savings strategy impact your financial future, particularly with tax season looming and new contribution limits set for 2025?
Jim KruzanCFP®, CRPC® and guest Dylan Stewart, a Certified Financial Planner™ and Certified Public Accountant, unravel the concept of tax-efficient waterfall funding—an approach crafted to maximize your savings efficiency while minimizing tax burdens. Together, they provide insights into how this process not only benefits savers but also retirees by reversing strategies to efficiently tap into accumulated funds.
Key episode discussions include:
- The essentials of a tax-efficient waterfall strategy and its impact on your financial health
- High-priority saving tactics, including emergency funds, employer 401(k) matches, and high-interest debt management
- Medium-priority savings options like Health Savings Accounts (HSAs) and how they can be leveraged for medical expenses
- Low-priority contributions such as education savings plans and considerations for low-interest debt
- Strategies to handle retirement withdrawals and manage tax efficiencies proficiently
- And more!
Related: The Intricate World of Long-Term Care and Caregiving