Chart Your Retirement Path With Confidence
At Pharr Financial, we understand that planning for retirement can feel overwhelming, but with the right guidance, it doesn’t have to be. Our team of financial experts is dedicated to helping you take control of your future with a tailored... Read More →
3 Strategies for Reducing Roth Conversion Taxes
How to make the most of a Roth IRA conversion. A Roth IRA conversion may be right for you if you have a year where either your taxable income is lower than normal or your income is too high to... Read More →
Big Retirement Rule Changes Are Coming in 2025
Here’s how you can save big money:
Why Your Kids Need a Roth IRA—The Ideal Savings Vehicle for Young People
How a Roth IRA for kids works Yes, children are eligible to have their own Roth IRA, and the IRS rules governing these accounts are similar to those for adults. For 2024, individuals under age 50 can contribute up to... Read More →
Strategies for Saving Toward Multiple Financial Goals
Simply setting aside a few extra dollars in a savings account each month may not be the most effective way to save for multiple financial goals. To achieve your objectives, it’s essential to take a more strategic approach. While identifying... Read More →
Five Steps to a Successful Retirement
Identify Your Retirement Needs Retirement planning isn’t just about saving; it’s about understanding how your savings will cover your living expenses when you retire. Accurately estimating these future costs is the foundation of a successful plan. Protect Your Financial Stability... Read More →
4 Key Facts About Roth IRA Contributions You Should Know
After gaining an understanding of what a Roth IRA is, it’s important to explore how contributions function. Familiarize yourself with the specific rules and limitations that may impact your contributions and overall financial strategy. The tax advantages of a Roth... Read More →
Strategies for Saving Toward Multiple Financial Goals
Simply setting aside a few extra dollars in a savings account each month may not be the most effective way to save for multiple financial goals. To achieve your objectives, it’s essential to take a more strategic approach. While identifying... Read More →
5 Benefits of HSAs for Your Retirement
Discover How HSAs Can Enhance Your Retirement Planning Tax-Efficiently Health savings accounts (HSAs) are commonly known for covering healthcare costs with pre-tax dollars. However, this tax-efficient savings option can also serve as a valuable tool for retirement savings. An HSA... Read More →
4 Strategies for High-Income Earners to Access a Roth IRA
The Roth IRA is highly regarded as a retirement savings account. While contributions are made with after-tax dollars, Roth IRAs allow for tax-free withdrawals of both contributions and earnings in retirement, provided the account holder is at least 59½ years... Read More →