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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...
2024 brings the option to roll money from a 529 college savings plan into a Roth IRA. Check out the requirements and when this could make sense for you....
Answering questions about the Mega Backdoor Roth IRA, the right kind of financial advisor for you, side gigs and increasing your income, and whether the Trump administration is going to get rid of PSL...
In this episode, we tackle Kay's questions about managing her IRA and Roth accounts in retirement. With significant assets, no LTC insurance, and children in differing financial circumstances, Kay wan...
This year my wife will retire from her job of 28 years. I will continue to work, likely until December 2025. To replace her income, we will start using dividends coming out of an IRA, probably in the ...
Contributing to a Roth IRA is one of the smartest ways to get ahead in investing. Here are five extra reasons why. The post 5 Little-Known Uses of Roth Contributions and Conversions appeared first on ...
I am a Canadian/US dual citizen who has spent most of their adult working life in the US - I will have SS, a 401k, an IRA, etc. For a variety of reasons, retiring to Canada is attractive. The primary ...
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...
My retirement advisor is recommending that I put roughly half my current retirement savings (from my pre-tax IRA) into a Fixed Indexed Annuity with a 10-year term. The upside is that you are not suppo...
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....
We answer a question from a 44-year-old Pittsburgh bus driver earning over six figures annually who maxes out a Roth IRA, contributes 10.5% to a 457 plan, and is covered by a pension. He owns five ren...
Let me be super clear about 2 things up front: I (68, retired) am very fortunate to have enough saved and invested for my retirement, including maxing my 401k and IRA over 40 years and paying off my h...
Answering reader questions about the Mega Backdoor Roth, Roth conversions, solo 401(k)s, individual IRAs, and what to do with an inherited IRA. We also talk about whether the Robinhood 3% match is wor...
When picking which type of 401(k) or IRA is right for you, consider whether you want to save a little on your taxes now — or save a lot more on them later....
There’s a lot of enthusiasm for Roth IRA conversions and Mega Backdoor Roth IRAs—and for good reason. Paying taxes upfront on your retirement accounts can be a savvy move, especially if yo...
TAX BILL CALCULATOR COULD YOUR TAX BILL IN RETIREMENT BE TOO BIG? If you’ve saved for retirement in an IRA, 401(k), or other tax-deferred vehicle, you have a tax bill…...
I have an outstanding collection of resources on a variety of topics this month. We’ll explore financial planning concepts including Roth IRA conversions, building bond ladders, and performing 5...
One of the biggest benefits of a market downturn involves shifting market losers into a Roth IRA account to save big-time on taxes in retirement....
Things to consider with an inherited 401(k) plan - such as, you can convert the plan to a Roth IRA, enjoying tax-free withdrawals afterward. The post Converting an Inherited 401(k) to Roth appeared fi...
The number of taxpayers hit with penalties for underpaying estimated taxes has increased. But retirees can use a traditional IRA to help avoid the penalties....
When you convert a traditional IRA to a Roth IRA matters if you want to limit how much you pay in taxes....
I think I know the right answer but …I plan to retire at some point next year and I know I have to roll my 401k and pension into a IRA but do most pull out the money on a monthly basis or pull ...
Listener Michael asks about how Social Security is taxed, the rationale behind the 50% and 85% tax thresholds, and the implications of these taxes on Social Security and IRA withdrawals. James respond...
Sammy, a 51-year-old retiree, is seeking advice on how much she should convert from her traditional IRA to a Roth IRA each year to avoid jumping tax brackets and minimize the taxation of her social se...
Here are three primary reasons you might want to consider moving your retirement money from your 401(k) to an IRA once you retire....
I just put in a three-month notice to retire on December 13 (Friday the 13th struck me as a funny date). My health insurance will be MedEx at 300/month and will cover everything, my IRA is good, Socia...
401(k), 403(b), and IRA accounts have all experienced consistent growth throughout 2024,…...
I’m planning to retire next spring and have managed my own Roth, IRA, 501k, and HSA my entire career. But I feel the need for guidance on a strategy that is personalized for handling all of my i...
I have a 401K with a former employer and anhave a 401K with a former employer and another one with my current employer, also an IRA. The current 401K is better, I think, than the former one. Theother ...
Rolling your 401(k) over to an IRA the wrong way could cost you big-time in taxes and penalties. It’s worth it to consult a professional first....
'm 66, wife is 65. I've been "educating" our daughter relative to her 401K, her Roth IRA, cash/savings account, etc. The idea is that If I pass before my wife, it's my daughter to whom I'm trusting to...
A traditional IRA is a powerful way to save for retirement. If you don't have a 401(k) it can be especially helpful....
The latest stock market correction cost me about five times what I made consulting part-time for four months. If I were smarter, I would have sold 100% of my rollover IRA before stocks started to tumb...
I have 401ks, SIMPLE and Traditional. In preparation for retirement I’d like to simplify by rolling my 401k and SIMPLE IRAs to one Traditional IRA. Assuming I keep the same funds, are there any ...
We are both on all 401k and ira accounts. Our pensions have 100% survivorship to the other spouse. That's sad, I'm wondering about life insurance. Currently I have life insurancev my employer but that...
Here are some strategies for utilizing whole life or indexed universal life policies to convert your traditional IRA to a Roth with LTC protection....
Listener Michael asks about how Social Security is taxed, the rationale behind the 50% and 85% tax thresholds, and the implications of these taxes on Social Security and IRA withdrawals. James respond...
Do your traditional IRA distributions count as income that could lower your social security benefits? It depends....
How important is it to have many different investment companies to hold your Ira, Roth IRA, hsa or brokerage or crypto accounts? We are thinking of leaving vanguard because of the recent changes due t...
last year I finally decided to retire in early 2025 I was thinking getting a couple months in so I could max my ROTH IRA. Then got to thinking "ill get my last check for my vacation time in January so...
Here's how to roll over a 401(k) to a traditional IRA, Roth IRA or even to a Roth 401(k)....
Should Mike in Virginia keep using his IRA money to pay the tax on his Roth conversions? How do you do a Roth conversion when you don’t have the money to pay the tax? That’s PeterLemonJell...
A couple happily learning about the differences between a 401(k) and an IRA at the dinner table. As you journey towards retirement, understanding the fundamentals of retirement savings vehicles like 4...
I have some $’s in an IRA and 401k but most of my (limited) net worth is tied up in home equity. Someday (maybe sooner than I hope) I’m gonna retire and downsize. I get lots of home equity...
When you inherit an IRA, you likely have a lot of questions. Do you need to take RMDs? When? How long do you have before the account must be cleaned out?...
The analysis by Fidelity Investments finds that balances increased across 401(k), IRA, and…...
IRA, 401k balances and investments...how often do you check them and why? Daily? Weekly? Monthly? When the mood strikes? When there's market news? Out of habit? To update planning sheets? Because you'...
All eggs in one basket for retirement How many folks have their entire retirement funds (cash, 401k, IRA, etc) in one company such as Fidelity? I’m interested in hearing about pros and cons of h...
Today, Dr. Jim Dahle is answering all of your questions about taxes. He talks about FICA taxes, quarterly estimated payments, IRA contributions and tax deductions, paying taxes when you work in two st...
I think I've come upon an answer for my Roth conversion riddle. FYI, I have a large tax-deferred ("always taxed") IRA. I'm 63. I'm going to be a widower maybe in my early 70s (incurable disease proces...