American households are drowning in consumer debt, with the Federal Reserve Bank reporting a new record of over $1.13 Trillion in Credit Card debt in 2024.[1] Total consumer debt, including the largest category, mortgage debt, is also standing at an all-time high of $17.5 Trillion.[2] In our new high interest rate environment, the interest payments […]
Retirement Tax Planning: The Three Tax Wallets
Note: While some information in this article is specific to BP employees, the points about the three tax wallets may be useful for anyone saving for retirement. To understand the myriad types of retirement accounts and their complex tax treatments requires a certain depth of knowledge and expertise in retirement tax planning, more than can […]