retirement savers credit

Is The Retirement Saver’s Credit Worth It In 2020? | Ep 213

In Today's Episode

What You'll Get Out Of Today's Show

  • Memorial Day – Cooking with ChooseFI recipes. Enjoy some “FI-ne Dining” while saving in the process.
  • Retirement Savers Credit – The guys detail this little known tax credit. Tax credits v tax deductions AND refunded v non-refundable credit. Sean mentioned this on is live: choosefi.com/live. With the larger standard deduction, this may benefit a very specific individual or household, but hey, that's a benefit to them!! More details on the IRS website.
  • FI is power: not only does it make decisions easier, it relieves stress, and provides a community! Feedback and negotiation tips for teachers in the ChooseFI Educators group (in response to Monday's episode 211)
  • Brad was on Jillian's latest episode of Everyday Courage on Monday as well. Clear = Kind, be clear with people when you communicate!
  • ChooseFI Case Studies are coming! First one was this past Wednesday choosefi.com/212

Resources Mentioned In Today's Conversation

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  • Transcript Here

     

    Your Financial Resilience Toolkit

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    Save on Existing Loans

    Save On Living Expenses

    Save & Invest

    Financial Emergency Prep

    2 thoughts on “Is The Retirement Saver’s Credit Worth It In 2020? | Ep 213”

    1. Re:Episode213

      I love this show. The content is awesome.

      I hate to be negative but the food discussion and constant advertising (not talking about the paid advertising, that I understand) in this particular episode was not good. Please stay in your lane.

      Keep up the excellent shows and guests.

      Please listen back to this one and out of the 48 minutes in the episode, you concentrated on the topic for about 25% of the time.

    2. On the saver’s credit, if I contribute the full amount (i.e. $6k), will I still receive $1k extra (tax credit) or do I have to stay with $5k? Important fact: AGI income in this scenario means income from business or work of at the minimum the level of the contribution amount. Interest and dividends won’t qualify for savers.

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