Joseph M. Johnson

Passionate about educating families and individuals. Securities offered through LPL Financial, Member FINRA/SIPC

[Joseph M. Johnson @msigjoe]

@RandyRRQuaid Great seeing you Randy, shitters full!!

[Joseph M. Johnson @msigjoe]

@markcecchini No dip in both March’s is impressive, congrats!

[Joseph M. Johnson @msigjoe]

@elonmusk @dbongino @TheRabbitHole In NJ, when you start to cross $500k in taxable income you are already paying about 45% total to income tax. How much more do they want?

[Joseph M. Johnson @msigjoe]

@RyanDetrick Except when it’s the Eagles, right Ryan?

[Joseph M. Johnson @msigjoe]

@stoolpresidente Eagles are still champs!

[Joseph M. Johnson @msigjoe]

@FortWayneCPA AWS issue

[Joseph M. Johnson @msigjoe]

@FortWayneCPA Gold, since 1971, 102 times (45 just this year). Not sure about the rest of that extensive list but I imagine silver is in the same boat.

[Joseph M. Johnson @msigjoe]

@FortWayneCPA I guess it’s how you view “about the same”(good or bad).

[Joseph M. Johnson @msigjoe]

@FortWayneCPA 54% better or the same in about 8 months.

[Tyler Olson, EA @olsonplanner]

📚 Docs with debt - bookmark and share this thread.

If you’re in med school, residency, or practice, here’s what you need to know about the new student loan rules under OBBBA:

[Joseph M. Johnson @msigjoe]

@TKopelman Started in this business at 26. If I would have listened to these type of people I would have failed and not be where I am today. Now, 22 years later, the biggest concern I hear from clients is how much longer I will be around....

[Joseph M. Johnson @msigjoe]

@FortWayneCPA SALT but it will be the first on the chopping block if they need to remove cuts.

[Joseph M. Johnson @msigjoe]

@RyanDetrick Despite your Eagles comments (lol) we sure do miss you.

[Joseph M. Johnson @msigjoe]

@RyanDetrick I used to love you Ryan, no more. Go Birds!!

[Joseph M. Johnson @msigjoe]

💼 One of the biggest risks in early retirement is a market downturn, which can throw your plans off track. So, how do you prepare? 🤔

The key is to avoid selling equities at a loss. Instead, have other options in your portfolio like:

CDs 🏦
Bonds 📊
Money Market Funds💵

This is why strategies like the 60-40 mix exist for retirees! It helps provide balance and security during volatile times. 🔑

[Joseph M. Johnson @msigjoe]

If you're able to save for both your kids' college and your retirement, that’s fantastic! 🎓💼

But if you have to choose, prioritize saving for your retirement. Here’s why:

1️⃣ Your kids would prefer to handle their own education costs rather than support you in your later years.
2️⃣ There are no loans available for retirement.

Plan for your future to ensure both you and your kids are secure! 🌟💪

[Joseph M. Johnson @msigjoe]

🔔 Attention, healthcare employees in New Jersey!

Did you know 403b contributions are not pre-tax for you in NJ? 💸

It's crucial to understand the taxation of your retirement savings plan. 💡

[Joseph M. Johnson @msigjoe]

🕰️ IMPORTANT AGES FOR RETIREMENT ACCOUNTS, SOCIAL SECURITY, AND MEDICARE 🏦

👮‍♀️ 50 - Public Safety Workers (e.g., police, firefighter, EMT, correctional officer) can tap into employer-sponsored retirement plans (like a 401k) without the 10% penalty!

🔥 55 - The "Age 55 Rule" allows distributions from employer-sponsored retirement plans without that pesky 10% penalty!

💼 59.5 - Distributions from retirement accounts (such as an IRA) are permitted without the 10% penalty. Depending on the plan, employees might even transfer to an IRA

🌹 60- Widows and widowers can file for reduced survivor benefits

🎈 62 - Earliest age to file for Social Security retirement benefit

💰 63 - Tax return used to decide Medicare surcharges for Part B and D premiums at age 65 (IRMAA).

🏥 65 - Medicare eligibility begins, with a 3-month window around your birthday to enroll.

🎈 66-67 - Social Security Full Retirement Age (FRA), which varies by year of birth

📆 70 - The latest age to file for Social Security retirement benefits

💼💰 70.5 - Qualified Charitable Distributions (QCDs) are permitted

🎁 73-75 -Required Minimum Distributions (RMDs) must be taken from pre-tax accounts. RMD ages vary based on your birth year. If your employer-sponsored plan allows, you can use the "Still Working Exception" to delay RMDs if you're still employed. 💼🚀