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We’re well into the third quarter of the year, so it’s a good time to review the actions you should consider taking with your IRAs before Dec. 31....
Converting at least some of an old 401(k) to a Roth IRA can offer long-term tax benefits and retirement flexibility, especially if you anticipate being in a higher tax bracket later or wish to leave a...
I was advised and I am following through with a near-complete conversion of my tax-deferred assets to a Roth IRA prior to age 72 when RMA's should begin. I mention "near-complete" because I'm leaving ...
So, this seems pretty straightforward, but want to make sure I'm not missing anything. I have a regular IRA, a Roth IRA, and an HSA. I'm 62 and have a high deductible health plan via the ACA (Obamacar...
You don’t have to choose just one. Life insurance and Roth IRAs can work in tandem to provide retirement income....
Required minimum distributions from IRAs and 401(k)s can become a major tax burden during retirement, but you can reduce the burden....
Converting now would enable you to spread a possible tax hit over more than one payment while reducing future taxes....
I should take my own advice but interested on other views as well. I’m 65. I currently receive two pensions from previous employers and work enough to qualify for a third, as well as very attrac...
If you're worried that long-term care costs will drain your retirement savings, consider a personalized retirement plan that could solve your problem....
To read this story on KSL.com, click here. Have you saved at least $200,000 in IRAs and 401Ks? And are you counting on this to help you pay for retirement?…...
How to maximize the tax free income from your ROTH IRA today. Several valuable tax planning strategies to reduce your taxes on retirement income....
Alternative investments are gaining ground, yet retirement investors must carefully weigh risk, liquidity and portfolio fit....
Simplified Employee Pension IRAs intended to help self-employed professionals set aside…...
A fundamental strategy for any U.S.-based DIY retirement planner is to accumulate as much retirement money as possible in a Roth IRA. Roth IRA contributions and conversions grow tax-free, and withdraw...
Qualified charitable distributions have surged in popularity thanks to a shift away from itemized deductions, but experts say there's more work to be done around client education on the underappreciat...
While the full House and Senate have yet to vote, you can still compare the MAGA Account with the Child IRA to see which might be better for your child or grandchild....
About 5 years ago, when I started doing a relative's tax return, he was always prompting me to make a quarterly tax payment. Since he had to take RMDs and since he did not need the income from the RMD...
Current have 300k in a 401, part Roth, part regular, and a small amount in an IRA. I'll be retiring in 18 months at 67. Should I keep the money in the 401 when I retire, move it to the IRA, or do some...
For those retired in the Plains (for cost of living background) how much do you really need. Currently, 55. Owe 10 years on house. No other debts. 401k max, IRA, and too much cash in the bank. I want ...
When leaving an employer, sometimes it's best to roll over a 401(k) to an IRA. But other times it's not. Key factors determine which is best....
Understanding the allocations in your Roth IRA can help manage volatility and set realistic expectations for long-term returns....
Just about every week here on YMYW, Joe and Big Al talk about converting your retirement savings to Roth accounts. But why? What’s the big deal? Today the “IRA guru” Ed Slott, CPA re...
Thinking of converting a traditional IRA to a Roth IRA? The Kiplinger Tax Letter Editor highlights nine factors you should consider before making a move....
Not only could you get a tax break, but the compounding effect over 35 years could turn the average refund into nearly $14,000....
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...
"Jim" (66) and "Karen" (64) both retired in the last six months. Jim has an IRA with $900,000, and Karen has a Roth IRA with $300,000. They inherited a brokerage account with $600,000 and a cost basis...
“Fidelity Crypto for IRAs” allows clients to invest in top cryptocurrencies in a…...
You know you should rollover your old retirement account to an IRA. But do you know how to do it, and avoid pitfalls (and penalties)? The post The Rollover appeared first on Getting Your Financial Duc...
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....
That 401(k) or traditional IRA you've filled with your hard-earned money could turn into a tax bomb. Before it blows, see if a Roth could help rescue you....
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...
When leaving an employer, conventional wisdom suggests that you also rollover your 401(k) plan to an IRA. Not always the best call, though. The post 8 Things to Consider Before Rolling Over Your 401(k...
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...
I (63, s, m)have multiple chk/savings, 401k/IRA and brokerage accounts. Done as a way to budget in addition to giving specific purpose to each account. One is a Robinhood account that I use as an emer...
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…...
The platform will build on Alight's AI features as well as its new IRA product...