Roth IRA
Should you stay or should you go?
Should you stay or should you go? Many financial experts advise their clients to consider converting their 401(k) to a Roth IRA to lower taxes in retirement, but should you? Will the benefits of lower taxes outweigh other benefits if…
Are you overlooking a Roth IRA?
While retirement planning is different for everyone, there is one fundamental aspect that consistently factors into all plans: retirement savings. Although less than 25 percent of employees use an employer-sponsor 401(k) plan, if you are looking for a different retirement…
Helping your kids fund a Roth IRA
Many retirees regret they didn’t start saving for retirement earlier. But what if you can turn those regrets into actions that benefit your children and provide important lessons? You can by taking this easy step. David McClellan explains how helping…
What is an IRA recharacterization?
IRA recharacterization is a strategy that changes the type of IRA for a specific contribution. Recharacterizing gives you the opportunity to change your mind or correct a mistake. However, there are deadlines and rules for recharacterizing IRA contributions. Rebecca Lake…
New Rules for Retirement Account–A Quick Refresher
The recently-passed $1.7 trillion spending bill includes a host of big-ticket items, but one of the more obscure segments of the legislation has a direct bearing on many folks’ retirement financing strategies. If you are the owner of a 40a(k),…
Are you limiting your retirement savings options?
Over 40 percent of U.S. workers participate in 401(k) retirement plans which is an excellent resource for building long-term wealth. However, it is not the only retirement savings vehicle. There are several options that can offer tax advantages and more…
Eliminating the backdoor Roth IRA strategy
A backdoor Roth IRA is a strategy rather than an official type of individual retirement account. It is a technique used by high-income earners—who exceed Roth IRA income limits—to convert their traditional IRA to a Roth IRA. However, the backdoor…
What Is a Backdoor IRA?
As Todd Campbell explains in this Motley Fool article, there’s no such thing as an official backdoor Roth IRA. Because high-income earners cannot directly contribute after-tax money to a Roth IRA, they must fund one through the backdoor approach. Note, traditional IRAs have no income…
Understanding Roth IRAs
Tax reform measures implemented last year have resulted in increased attractiveness in the use of Roth IRAs as a key in planning retirement finances, according to a post cumberlink.com’s Business page. Written by The Motley Fool’s Dan Caplinger, the article covers…