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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...
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...
Today, we’re opening up the mailbag and answering some retirement questions we get from our listeners and clients. George says he has all of his retirement savings in one IRA. Should he move som...
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...
One of the biggest reasons I was against contributing to a Roth IRA is my belief that most people won’t make more money in retirement than while working. As a result, they’re unlikely to p...
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....
From IRA contributions to Social Security COLAs and the standard deduction, several changes are headed our way. Get ready to make the most of them....
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....