If you make too much money to open a Roth IRA, you could create one this way. You can sum up the appeal of a Roth IRA in three words: federal tax benefit. Potential earnings in a Roth IRA grow tax free as long as the owner abides by the Internal Revenue Service (I.R.S.) rules, and withdrawals are … [Read More...] about “Backdoor” Roth IRAs
Main Content
Tax Strategies
New I.R.S. Contribution Limits
Changes for 2020. The I.R.S. just increased the annual contribution limits on IRAs, 401(k)s, and other widely used retirement plan … [Read More...] about New I.R.S. Contribution Limits
What if You Get Audited?
What the I.R.S. looks for and why. “Audit” is a word that can strike fear into the hearts of taxpayers. However, the chances of an Int … [Read More...] about What if You Get Audited?
Investing
Should You Care What the Financial Markets Do Each Day?
Focusing on Your Strategy During Turbulent Times. Investors are people, and people are often impatient. No one likes to wait in line or … [Read More...] about Should You Care What the Financial Markets Do Each Day?
Unrealized Loss and Gain
What they are; why they matter. For many investors, it can be tempting to think of one's portfolio in terms of “gains” or “losses.” True, t … [Read More...] about Unrealized Loss and Gain
Financial Planning
End-of-the-Year Money Moves
Here are some things you might consider before saying goodbye to 2019. What has changed for you in 2019? Did you start a new job or leave a job behind? Did you retire? Did you start a family? If notable … [Read More...] about End-of-the-Year Money Moves
401(k) Loan Repayment
A longer repayment time can be an advantage. The conventional wisdom about taking a loan from your 401(k) plan is often boiled down to: not unless absolutely necessary. That said, it isn’t always avoidable f … [Read More...] about 401(k) Loan Repayment
Diversification, Patience, and Consistency
Three important factors when it comes to your financial life. Regardless of how the markets may perform, consider making the following part of your investment philosophy: Diversification. The saying “don’t … [Read More...] about Diversification, Patience, and Consistency
Retirement
2019 IRA Deadlines Are Approaching
Here is what you need to know. Financially, many of us associate April with taxes – but we should also associate April with important IRA deadlines. April 1, 2020 is the deadline to take your R … [Read More...] about 2019 IRA Deadlines Are Approaching
The SECURE Act
Long-established retirement account rules change. The Setting Every Community Up for Retirement Enhancement (SECURE) Act is now law. With it, comes some of the biggest changes to retirement savings law in … [Read More...] about The SECURE Act
Can You Put Your IRA into a Trust?
What you should know about naming an IRA beneficiary. Can your IRA be put directly into a trust? In short, no. Individual retirement accounts (IRAs) cannot be put directly into a trust. What you can do, … [Read More...] about Can You Put Your IRA into a Trust?
Creating a Retirement Strategy
Most people just invest for the future. You have a chance to do more. Across the country, people are saving for that “someday” called retirement. Someday, their careers will end. Someday, they may live off the … [Read More...] about Creating a Retirement Strategy