Despite viral social media claims that 401(k) retirement plans are a scam, financial professionals say they can be powerful tools for building long-term savings when used wisely.
You probably know to factor certain costs into your budget, like utilities and car insurance. But some key retirement expenses may slip off your radar.
Converting a traditional IRA to a Roth IRA sounds straightforward: pay taxes now, enjoy tax-free growth later. But the ...
Converting a traditional IRA to a Roth during low-income years could unlock six figures in added retirement income through smarter long-term tax timing.
Make sure to have plenty of money set aside for home maintenance and repairs. A general rule of thumb is to plan for those ...
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‘I won’t take out a loan’: I need $18K in house repairs. Do I take it from my Roth, 401(k) or IRA?
“I plan to be debt-free in less than two years.” ...
Does the name “Trump Account” give you pause? Here’s what it means, what it doesn’t, and how parents can evaluate the account based on benefits—not politics.
Roth vs Traditional: compare today’s marginal vs future effective tax rates. Roth accounts offer planning flexibility. Read ...
The backdoor Roth is a two-step process where you set up a traditional IRA that you eventually convert into a Roth. You can fund a traditional IRA and then do the conversion a week later. It’s better ...
Plynk ®, the award-winning app designed to simplify the investing experience and empower users with confidence-boosting tools, announced the launch of Individual Retirement Accounts (IRAs), including ...
New IRS rules for inherited IRAs became effective last year. Pay attention to avoid a 25% penalty and a "tax bomb".
A lot of people end up strapped for cash in retirement. But then there are those retirees who end up with a few million dollars in savings after years of hard work and careful spending. Clearly, it’s ...
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