There can be a ‘survivor's penalty' after a spouse dies — here's how to avoid it
After your spouse dies, you could face a surprise higher tax bill, financial experts say. But it’s possible to prepare with advanced planning.
What is the difference between a backdoor Roth IRA and a mega backdoor Roth?
A backdoor Roth IRA is fairly straightforward. If you make too much to contribute directly to a Roth IRA, you contribute to a traditional IRA instead and then convert it to a Roth. While you can only ...
Roth conversions are the retirement version of ‘buy the dip’
When stocks fall, it can be a good time to get money out of tax-deferred accounts to avoid a ticking tax time bomb.
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What Is the Roth IRA 5-Year Rule?
The five-year rule for Roth IRA conversions. The five-year rule for inherited Roth IRAs. Consequences for breaking the five-year rule. Exceptions to the five-year rule. After opening and ...
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Popular Retirement Accounts Explained
There are many options available, and it could be difficult to determine which account is best for your needs. The three most ...
3 Ways to Reduce Your Required Minimum Distribution (RMD) and Pay Less in Taxes
If you're charitably inclined, using a qualified charitable distribution, or QCD, is a great way to reduce your RMD. Instead ...
This retirement account is an ‘IOU to the IRS' — but here's when it makes sense, expert says
Your pre-tax IRA is subject to future income taxes, depending on your bracket. But it could offer planning opportunities, ...
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At 65 With $850k in an IRA, Should I Convert to a Roth to Avoid RMDs?
Required minimum distributions (RMDs) from pre-tax retirement accounts can have a number of unintended consequences. These ...
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I'm 55 With $900k in an IRA. Is Converting $100k a Year to a Roth a Smart Move?
At age 55 with $900,000 in a traditional individual retirement account (IRA), converting $100,000 per year to a Roth IRA ...
Ed Slott: Confronting RMD Confusion for Inherited IRAs
The tax and retirement planning expert shares what you need to know about the 10-year rule for inherited IRAs, which kicks in ...
Four Roth IRA Pitfalls Your Adviser May Not Tell You About
Roth IRAs, on the other hand, do not offer a tax break on contributions. Instead, they offer tax-free gains and withdrawals, ...
Thinking of rolling over your old 401(k) into an IRA? Here's how.
If deciding what to do with an old 401(k) plan has been on your to-do list, here are the key steps you should take to get it done.