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A Roth conversion can raise your Medicare premiums two years later. Every mistake on this list comes with a solution. The post 16 Roth IRA and Roth Conversion Mistakes That Cost You in Taxes appeared ...
The 2025 tax law changed the factors involved in the decision to convert a traditional IRA to a Roth.
As clients consider when to claim Social Security, an advisor proposed a strategy to maximize tax-free retirement income using certain benefits and senior deductions.
Here's a little history on the Roth IRA, when the backdoor was left open for high earners, and why the government allows us to do this. The post Why the Front Door Is Locked: The Origins of the Backdo...
How does your IRA compare? Discover the average and median Traditional and Roth IRA balances by age in 2026, 2026 contribution limits, and key catch-up strategies.
If you start optimizing your taxes now, you can head off the inevitable tax consequences waiting for you when RMDs kick in — and when your family inherits.
Six ways "free" retirement accounts can cost you without showing it — and how to keep more of your money.
New rules could force high-income savers to withdraw "excess" retirement funds. Here is why the bill matters — even if it doesn't pass immediately.
Most inheritances won’t trigger a federal income tax bill. But what you inherit and what happens afterward mean other tax rules could come into play.
Plunging stock prices may keep investors up at night. But there's a silver lining to a down market: it's a prime time to save taxes on a Roth IRA conversion.
A custodial Roth IRA lets parents help a child with earned income start building long-term wealth. By starting early, children gain decades of potential tax-free growth while learning the value of sav...
It usually is not a good idea to name a trust as an IRA beneficiary, because heirs often are penalized with higher taxes. There are a few exceptions to the general rule.
Before you touch your retirement fund, consider how taxes and financial aid rules change the math. In this week's Wealth Wise column, we break down the right choice.
We are still working - planning to retire very early next year. I'm at FRA; my husband will be in a couple of months. We are not yet taking SS or Medicare. With our income, we will certainly hit the I...
Although there are advisors who suggest steering clear, there are times when clients might benefit from using a checkbook IRA to invest in alternative assets.
See average IRA balances by age for 2026, based on IRS tax data covering 71 million account holders, plus what the averages leave out. The post Average IRA Balance by Age in 2026: How Do You Compare? ...
How families can preserve valuable inherited IRA stretch treatment for a child or grandchild who needs support but doesn’t qualify for SSI or SSDI.
I am thinking of rolling my 401K which has a mix of mostly Roth and the company match in pre-tax into my existing Rollover IRA and Roth IRA. It seems like it will be simpler to manage and I will be ab...
I retired from full time work with a pension that pays most of my expenses, including healthcare. I also have some part time work. If I have extra money at the end of the year from this work, should I...
At both the federal and state levels, efforts are underway to give workers a retirement savings boost.
Your spouse and children could be bumped into higher tax brackets if you leave them a substantial sum in an IRA. Partial Roth conversions now can help.
When it comes to retirement savings, Roth IRAs are among the most powerful tools for achieving tax diversification and financial flexibility. Knowing how and when to tap into your Roth IRA can make a ...
A new IRA marketplace will have the goal of encouraging more Americans to save for retirement, as well as offering a $1,000 contribution to those who enroll.
The established wisdom is never to touch your Roth IRA, but if it contains a large sum and you have a pension, too, here's when you should tap into it first.
McDreamy Dempsey wants to know if converting to Roth in the 37% tax bracket ever makes sense, and Gary in La Crosse warns Joe Anderson, CFP® and Big Al Clopine, CPA about Roth conversion "lag" and whe...
Joe Anderson, CFP® and Big Al Clopine, CPA are defusing some confusing tax time bombs today on Your Money, Your Wealth® podcast number 557. George in Torrance wants to know the smartest way to deal wi...
I am 73 years old and have to withdraw the required RMD from my mutual fund IRA which is a fairly substantial amount. Can I hire a Certified Financial Planner to handle my RMD (i.e., Roth IRA, etc.) a...
I am 73 years old and have to withdraw the required RMD from my mutual fund IRA which is a fairly substantial amount. Can I hire a Certified Financial Planner to handle my RMD (i.e., Roth IRA, etc.) a...
A law requires the rollover money to have been in the 529 for at least 15 years. But it isn’t clear what happens if you change the account’s beneficiary.
Take our 10-question quiz see if your hard-earned nest egg is truly protected from hidden liabilities, or if you are exposed to unexpected risks.
IRAs now hold a $9 trillion surplus over 401(k)s, largely due to rollovers. Learn how to secure your retirement savings against legal risks and hidden fees.
IRAs form an important part of your estate plan. Give yours some attention so they work in harmony and ensure your wishes will be carried out as you intend.
I left my job in 2025 but contributed to my Roth IRA because I was still working in that year. This year, I started working as a W-2 contractor for my former company through a contracting company. I t...
Time is a young investor’s greatest asset. Discover how small contributions today can evolve into a tax-free fortune by the time they retire.
Investors with slightly higher incomes will quality for retirement savings tax breaks next year.
I just turned 65 so I will not have to start taking RMDs until I'm 75. Since IRMAA is based on income from 2 years prior, that means I won't get hit with IRMAA until I'm 77 (2 years after my RMDs star...
Instead of treating your Roth IRA as "the best account" for everything, consider keeping these seven assets in accounts with better tax benefits or flexibility.
Explore how meaningful travel experiences, storytelling, and thoughtful planning can enhance your retirement journey. In this episode, Roger answers listener questions on managing retirement accounts,...
Rollover IRAs can end up stuck in cash, while abandoned 401(k)s can be parked in a cash-like Safe Harbor IRA. Here's how to put your money back to work.
If you convert to a Roth today, could Congress change the rules tomorrow — and should that fear stop you from taking action? In this episode, you'll learn: The truth about retroactive Roth taxation Wh...
If you’re earning 1099 income, you likely aren’t spoiled for choice in the retirement savings department. When it comes to ... Read more
Investors are exploring self-directed IRAs where they can hold traditional and alternative investments in one account.
Depending on the type of IRA you own and/or how you inherited it, your "safe" money might actually be on the table for creditors.
I’m likely to retire in the next 2 years at or near full retirement age. I first opened a Roth IRA with a small amount ($1,000) in 2023 to start the 5-year clock, so I was really late to the party. I’...
Looking to start a Roth IRA by April 1 so I can get a start on the 5 year rule, I have 401K plans but will need some roth if I have any chance of ever getting under the 400% magi in 4 years, where sho...
Over the past 150 years, the U.S. stock market (including dividends) has ended the year positively roughly 75% of the years, according to many studies, including one by Visual Capitalist. So if you ...
One thing I’ve learned from 30 years of investing and DIY money management is that there is always another way — and often the other way is more “optimized” than the current way. I put optimized in qu...
I have been retired 1 year. I made about 50k managing my fidelity IRA and overall made around 10%. My plan was to take 4% a year or 20k so that tracks. I keep 6 months of bills in savings currently an...
Your beneficiary designation will often control where your IRA goes once you pass away. Make sure you don't leave unintended people on the account like an ex-spouse.
? Show Notes In this Thanksgiving Eve episode, Roger Whitney encourages listeners to carry gratitude into everyday life, emphasizing the value of recognizing specific moments and taking “mental snapsh...