Some say yes, pointing to the recent federal tax reforms. Will federal income tax rates ever be lower than they are right now? Given the outlook for Social Security and Medicare, it is hard to imagine them falling much further. Higher federal income taxes could very well be on the horizon, as the tax cuts set by the 2017 reforms are scheduled to sunset when 2025 … [Read more...] about Is Now the Right Time to Go Roth?
Two recent court rulings may make you want to double-check. How often do retirement plan sponsors check up on 401(k)s? Not as often as they should, perhaps. Employers need to be especially vigilant these days. Every plan sponsor should know about two recent court rulings. One came from the Supreme Court in 2015; another, from the U.S. District Court for the Central District … [Read more...] about Is Your Company’s 401(k) Plan as Good as It Could Be?
Here are some things you might want to do before saying goodbye to 2018. What has changed for you in 2018? Did you start a new job or leave a job behind? Did you retire? Did you start a family? If notable changes occurred in your personal or professional life, then you will want to review your finances before this year ends and 2019 begins. Even if your 2018 has been … [Read more...] about End-of-the-Year Money Moves (2018 Edition)
A Roth IRA is a type of retirement account that allows the owner to contribute after-tax dollars and enjoy tax-deferred growth and tax-free distributions in retirement. The tax-deferred growth experienced in a Roth IRA allows funds to compound faster because the total amount is not affected by taxes. A Roth IRA is a great way to save for retirement and protect your retirement … [Read more...] about Roth Conversions Must Now Be Used Wisely