Taylor’d Finance Blog
Welcome to my blog! I’m Taylor Ledbetter, a Paraplanner and Wealth Advisor at Jessup Wealth Management. I joined the team in July 2020 as a financial planning intern. By 2021, I graduated from Wright State University with double Bachelor’s Degrees in Financial Services and Accounting and an Associate’s Degree in Business Administration from Sinclair Community College.
This blog aims to dissect relevant financial planning topics and educate readers. I put a lot of thought into providing insights and strategies to help you enhance your financial lives. Whether you’re looking to optimize your investments, plan for retirement, or manage your budgets, I’m here to guide you toward achieving your financial goals.
If you have ever been married, you may be eligible to apply for a “Spousal Social Security” benefit. This can provide significant financial support for married couples, but certain eligibility requirements must first be met. The determining factors include your age, work history, and marital status.
If you have ever inherited an IRA or other tax-deferred retirement account, you may be familiar with the 10-year RMD rule. If you are a beneficiary but have not yet inherited a tax-deferred retirement account, you must familiarize yourself with this rule. Your relationship with the original account owner will impact the distribution rules you are subject to.
If you own a retirement account, you are probably familiar with the early withdrawal penalty. This rule states that if funds are withdrawn from a retirement account before age 59 ½, there is a 10% penalty. This applies to IRA accounts and other tax-advantaged retirement accounts like 401(k) and 403(b).
Most of your retirement savings will likely come from an employer-sponsored plan, such as a 401(k) or a 403(b). These are great savings plans for retirement because normally an employer will also match your contributions. However, just because your employer sponsors a retirement plan, doesn’t mean you should stop saving for retirement there.