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 federally tax free once you reach age 59½ and have held the Roth IRA for at … [Read more...] about “Backdoor” Roth IRAs
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Market Update (June 2020)
In this month’s recap: stocks rallied in May, sparked by a supportive Federal Reserve, stories of states re-opening, and reported progress on a COVID-19 vaccine. U.S. Markets Stocks rallied in May, sparked by a supportive Federal Reserve, stories of states re-opening, and reported progress on a COVID-19 vaccine. The Dow Jones Industrial Average rose 4.2%, while the … [Read more...] about Market Update (June 2020)
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 wait longer than they have to for something, especially today when so much is just a click or two away. This impatience also manifests itself in the financial markets. When stocks slip, for example, some investors grow uneasy. Their … [Read more...] about Should You Care What the Financial Markets Do Each Day?
Market Update (March 2020)
In this month’s recap: The coronavirus becomes the leading news story in the financial markets, sending stock indices and Treasury yields lower; oil futures slide; consumer confidence, hiring, and manufacturing data offer bright spots. THE MONTH IN BRIEF In February, anxieties about the novel coronavirus (COVID-19) rippled through stock, bond, and commodity markets. S … [Read more...] about Market Update (March 2020)
Market Update (February 2020)
In this month’s recap: the emerging coronavirus reins in the bulls on Wall Street, trade deals make headlines, the United Kingdom makes its Brexit, and confident U.S. households help the economy keep its pace. THE MONTH IN BRIEF Early January gains gave way to late January losses as the coronavirus emerged as a global health concern, and correspondingly, a concern for … [Read more...] about Market Update (February 2020)