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Here's everything you need to know about Mega Backdoor Roth conversions and whether they're the right move for you in the long run. The post Mega Backdoor Roth IRA Conversion in Your 401(k) or 403(b) ...
retiring at 59+ Basically, my question is, concerning losses in the 401k, people say its only a loss if you sell. But when i go to retire, if the market is still down, is that going to be a loss? In o...
Looking for opinions on what to do with the money. I am the higher earner of the 2 of us, aged 57, spouse is retiring as a teacher at 56. Getting about 250K lump sum in exchange for a lower COLA incre...
“Fidelity Crypto for IRAs” allows clients to invest in top cryptocurrencies in a…...
Can creditors take some or part of your IRA funds if you file for bankruptcy? Learn more about the federal protections that exist and to what extent they protect your IRAs....
Here are IRA contribution limits, income limits and rollover rules for Roth, traditional, SIMPLE and SEP IRAs at a glance....
The rollover is the most frequent IRA transaction, but mistakes are common, leading to unnecessary taxes and penalties....
An IRA conversion can give you a leg-up in retirement with tax-free income. But proceed with caution....
An inherited IRA is an account that is opened when someone inherits an IRA after the original owner dies. Discover the top rules for inherited IRAs....
I'm in my mid 60s and this is the first time that I have to make a decision about a 401k. My spouse used to be the one that handled all our financial interests, not much financials we were both poor a...
You may not be bound for Mordor, but Roth IRA pitfalls could upend your retirement if you're unaware of them....
Looking to avoid running out of money in retirement? Consider longevity protection provided by a QLAC as a component of your retirement income plan....
If your child has earned income, they can contribute to a Roth IRA. Opening a Roth IRA for kids can significantly change their financial situation in retirement....
Roth IRAs are a great way to build tax-free retirement income—but the withdrawal rules can be tricky. In this video, I’ll break down the five-year rules, how contributions, conversions, an...
A friend of mine was trying to figure out why his financial advisor was underperforming the market so badly. Over the past 5 years (November 15th, 2019, to November 15th, 2024), his portfolio was up j...
Dan asks: If monthly income from an IRA exceeds $2,908 for a single person, would that result in disqualification for Medicaid? We break down the income limits, potential strategies to navigate Medica...
Most people never ask or research their retirement investing to see if it is supporting predatory lenders. Discover how index funds can often obscure this....
Hello, I have a HELOC of approximately 200,000. I am semi retired. I need to withdraw approximately 80 K per year to supplement my income. I am not collecting my pension or Social Security yet. once I...
Gold is soaring. Here's how to add a gold IRA or ETF to your portfolio in order to hedge against inflation and volatility. But retirees should tread carefully....
PensionBee and SS&C say the partnership allows former employees to reconnect with their…...
Distributions from Roth IRAs must follow a specific set of ordering rules so that the taxation (or non-taxation) is correct. The post Ordering Rules for Roth IRA Distributions appeared first on Gettin...
In this episode, we tackle Richard’s question about why it might make sense to use IRA (non-Roth) accounts first to pay for long-term care expenses. We’ll explain the reasoning behind this...
I have one Ira that was made from a 401(k) rollover when I retired. I am working part time to supplement my income. My question, is I have about 90% of the Ira in ETFs and 10% in the money market opti...
I'm 67, retired, good income from various sources. I have a pretty significant IRA I haven't touched. Really don't anticipate tapping into it for several more years, possibly only when required minimu...
New SECURE 2.0 Act rules have kicked in to reshape distribution and taxes for inherited IRAs and retirement plans. Read on for strategies to help beneficiaries....
When it comes to retirement plans for self-employed physicians or those with side gigs, two popular options are the SEP-IRA ... Read more...
Optimize your IRA and 401(k) strategies with these key tax-saving tips for year-end planning....
You might want to convert all of your savings to a Roth in one go, but you could end up paying hundreds of thousands more in taxes than you have to....
There’s a host of under-the-radar rules beneficiaries need to know to minimize taxes and penalties and maximize the benefits of inherited IRAs....
Low-income retired couples with less than $3,000 in assets can get Medicaid to supplement their Medicare insurance or pay for a nursing home. This asset cap, set by state governments, mainly applies t...
Including a Roth IRA in your estate plan has clear tax advantages, which can be passed along to your heirs for years to come. But if passed down incorrectly, your heirs won’t reap the full benef...
Don't get hit with a big tax bill thanks to an inherited IRA. Learn the rules and save....
If you set up a 529 education plan for your children or grandchildren that is no longer needed for education expenses, there is a new game in town....
You really can defer RMDs and lower taxes while at the same time increasing the long-term growth of your IRA. Here's how....
If you own a business and have young children, here’s a tip with the potential to transfer wealth to the next generation tax-free....
My brother and I are working to develop a retirement plan. Our working class parents never really saved for retirement (my mom worked until my dad died), so our expertise in this area is fairly low. N...
Toys come and go, but opening a Child IRA allows you to give the gift of a lifetime. Here’s what you need to do....
Many people are surprised and shocked when they learn what happens when retirement account owners neglect simple details about the tax code and their accounts....
Learn about distribution rules for inherited IRAs and learn how to strategize your distributions for your financial goals. The post Have an Inherited IRA? Here is Your Guide to Strategizing Required W...
I'm 67, and will have to start taking out RMDs from my IRA account at 73. This will give me a big tax hit at that time and subsequently. I was thinking I could pull out $50K/year from the IRA for the ...
While many retirees own an IRA and a home, very few are considering how they could work together in a plan for retirement income....
What do you do with the pennies your money earns between the contribution and conversion to a Backdoor Roth IRA? Not much. The post Pennies and the Backdoor Roth IRA appeared first on The White Coat I...
An IRA or 401(k) can help you supercharge your retirement savings. We'll help you pick one or opt for both....
Should I try to keep my IRA spend down such that my year-end value stays the same every year, goes up with inflation, or draws down to leave just a small amount at the end of my life expectancy. I und...
Your traditional IRA has served you well, but when your heirs inherit it, watch out. Consider some of these strategies to minimize their tax burdens....
Ever since I started saving for retirement in 1999, I’ve been a proponent of tax-deferred retirement vehicles like the 401(k) and skeptical of tax-now vehicles like the Roth IRA. Working in bank...
An IRA could be useful to restrict certain inherent rights that are required within qualified retirement plans covered by ERISA. The post Using An IRA Rollover to Eliminate Federal Spousal Rights appe...
Inherited IRAs often incur unnecessary taxes because heirs don't know some key rules....
Given that only about half of private sector workers are covered by an employer-sponsored plan at any given time, 16 states have launched – or are in the process of launching – auto-IRA pr...
The IRS announced changes to retirement contribution limits to help workers boost their retirement savings with cost-of-living adjustments. Whether you’re saving through a 401(k), IRA, or anothe...