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Tom Meaglia, ChFC®, AEP®,


Chartered Financial Consultant

Investment Advisor Representative

Chartered Retirement Planning Counselor

CA Insurance Lic. #0567507


Meaglia Financial Consulting

2105 Foothill Blvd., #B140, La Verne, CA 91750


Toll Free: 800-386-3700

Bus:         909-593-6105

Cell:         818-681-8600

Fax:         909-593-6120




March/April 2023

Investing for Income

IRA on wooden blocks on the table with different color graphs

Income investing involves building a portfolio that produces enough profit to pay out a regular income. The success of this strategy depends on selecting investments that are likely to provide a steady stream of cash. Now that interest rates have increased, the yields on fixed income investments are climbing, too.

Max Out Your Plan Contributions
You may already be saving taxes if you contribute to your employer’s qualified retirement plan, such as a 401(k), 403(b), or 457 plan. The money you contribute is deducted from your paycheck pretax, which reduces your taxable income. For 2022, the contribution limit for these plans was $20,500, (increasing to $22,500 for 2023). Savers age 50 and older also were eligible to make a catch-up contribution of $6,500, ($7,500 in 2023). The deadline for employer plan contributions is December 31 each year.

A Look at the IRA Rules
If you meet the eligibility requirements, both you and your spouse can contribute to an IRA up until April 18, 2023, and deduct it on your 2022 tax return. For 2022, you can contribute $6,000 to a traditional IRA, increasing to $6,500 for 2023, plus an additional $1,000 if you’re age 50 or older.

Contributions Are Limited
Participants who are eligible to contribute to an employer’s 401(k) plan can make deductible traditional IRA contributions if their modified adjusted gross income (MAGI) is below $78,000 for singles and $129,000 for married couples. If you (and your spouse, if married) aren’t covered by a plan at work, you can deduct the full amount of your IRA contribution on your tax return. If one spouse is covered by a plan at work, the ability to deduct contributions to a traditional IRA phases out with income between $204,000 and $214,000.

An Added Layer
IRAs may offer a broader range of investments than an employer-sponsored retirement plan. Your financial professional can help you determine if an IRA is right for your personal situation.


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Thomas Meaglia is an Investment Adviser Representative of Coppell Advisory Solutions LLC, dba, Fusion Capital Management, a registered investment adviser that only conducts business in jurisdictions where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a specific level of skill or ability. The firm is not engaged in the practice of law or accounting.
Insurance and annuity products are not sold through Fusion Capital Management. Fusion does not endorse any annuity or insurance product, nor does it guarantee any insurance or annuity performance. Annuity and life insurance guarantees are subject to the claims-paying ability of the issuing insurance company. If you withdraw money from or surrender your contract within a certain time after investing, the insurance company may assess a surrender charge. Withdrawals may be subject to tax penalties and income taxes. Persons selling annuities and other insurance products receive compensation for these transactions. These commissions are separate and distinct from Fusion's investment advisory fees.
Meaglia Financial Consulting and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.

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