https://preservewm.com
We've been keeping up with the latest headlines...
here are two of our favorites worth sharing.
** Your Money
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Most people know that retirement-account withdrawals before age 59½ can trigger an additional 10% federal tax. Far fewer know about an exception commonly called the Rule of 55.
Leave your job during or after the calendar year in which you turn 55, and you may be able to withdraw money from that employer’s 401(k) or 403(b) without the additional 10% tax. You do not even have to wait until your 55th birthday.
The catch is that the exception generally applies only to the plan connected to the employer you just left. Roll that money into an IRA, and the Rule of 55 no longer follows it. Withdrawals are still subject to ordinary income tax, and each employer plan can set its own rules about installments, partial withdrawals or lump-sum distributions.
That creates a planning opportunity for someone retiring between 55 and 59½. An old workplace account might provide a useful income bridge before Social Security, pensions or unrestricted IRA withdrawals begin.
At PRESERVE Wealth Management, these are exactly the kinds of details we want to surface before a retirement decision is made. When we model retirement income, taxes and account sequencing, we can identify whether keeping money in a former employer plan creates a useful bridge. The goal is not simply to consolidate accounts. It is to make sure each account is positioned to support the larger plan.
The Retirement Tax Break That Most People Overlook (https://www.wsj.com/personal-finance/retirement/the-retirement-tax-break-that-most-people-overlook-260c0b9a?st=fBfEtu&reflink=desktopwebshare_permalink)
by Anne Tergesen
** Your Life
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Summer pests are usually looking for the same things we are: food, water and shelter.
The simplest defense is to remove the invitation. Keep counters clean, empty garbage regularly, store food and pet supplies in airtight containers, eliminate standing water and seal cracks around doors and windows.
That may not solve every infestation, but it addresses the conditions that attract ants, mosquitoes, flies and spiders in the first place.
The best pest control often starts before you ever reach for the spray.
Top 15 Pest Control Methods That Are Natural and Effective (https://www.beprepared.com/blogs/articles/top-15-pest-control-methods-natural-effective)
by Adam Mott
https://www.linkedin.com/in/danheth/
https://www.linkedin.com/in/rosalynn-harvey-heth-mpa-ceps-3a3aa3191/
** Complexity Simplified
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Marinating chicken longer does not necessarily add more flavor. Most marinades penetrate only the outer surface, and highly acidic ingredients such as citrus juice or vinegar can begin breaking down that surface over time.
Leave chicken in too long and the exterior may turn soft, mealy or dry instead of tender.
For boneless chicken breasts, about two hours is often enough. Longer marinating may help with convenience, but after a certain point, more time can make dinner worse rather than better.
The Best Way to Marinate Chicken Breasts (https://www.foodandwine.com/best-way-to-marinate-chicken-11995392)
by Melissa Gray-Streett
** Trivia
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Last week's answer: The hyoid bone
This week's question: In which track-and-field event would an athlete use the Fosbury Flop?
https://youtu.be/fhN8l2Qxprk?si=V78FD6nm5p6YTmsH
** Back in 1953, this song reached #1
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