Roth IRA

Why you need a Roth IRA — even if you have a 401(k)

If you’re saving for retirement in a 401(k) or other workplace plan, kudos to you. You’ve taken a major step toward a more secure retirement. But don’t stop there.<p>Because of their unique benefits, consider investing in a Roth IRA, too.<p>Why should you complicate your life with another retirement …

Retirement

How Retirees Can Stay in the 15% Tax Bracket

If you want to minimize your tax bill, staying in or below the 15% income tax bracket is the way to go. What's more, you can do so while still …

Retirement

The Roth IRA Trick Congress Is Planning to Take Away

A key strategy could disappear under tax reform.<p>Tax reform efforts have moved at full speed in the past two months, and Congress has now reached …

Retirement

5 Tax Deductions That Could Save You Big Bucks in 2018

Take advantage of these deductions before they disappear.<p>When you file your taxes with the IRS by April 18, 2018, the return you file may be the last …

Retirement

Make These 4 Financial Fixes Before the New Year | Investopedia

The start of the new year is always a good time to reevaluate your overall financial situation and make the necessary changes to put yourself in a …

Retirement

3 Dumb IRA Moves

The third can seem like a heart-wrenching decision. But we have a better approach.<p>The days of the pension are fading quickly -- were those days ever …

Retirement

Retirement can bring some complex tax questions

<b>Dear Liz:</b> I was in the twilight of my career when the Roth became available, and I contributed the maximum for those few years before retirement. After retirement, I dropped to the 15% tax bracket, so I did Roth conversions of my regular IRA to fill out that tax bracket until I was age 70½. My …

Retirement

6 Facts About Your Retirement Savings You Didn't Know

One of them could save you from a big penalty!<p>When asked about financial worries, most Americans put retirement savings near the top of their lists. …

Retirement

7 Steps To Take Before The Year Is Over

It’s safe to say that you will start to hear a lot of talk about New Year’s resolutions over the course of the next few weeks. Since money and wealth are integrated into many aspects of the life journey, it isn’t too surprising that financial resolutions are generally near the top of those …

Personal Finance

When I Save for Retirement, I Choose the Roth IRA. Here's Why.

For me, it's a no-brainer.<p>The traditional IRA vs. Roth IRA debate is one of the most hotly contested in all of personal finance. And there are solid …

Retirement

GOP tax reform: Top year-end tips for taxpayers

While the GOP works on passing a finalized tax reform bill, uncertainties about the future of legislation have raised concerns among taxpayers who are trying to plan ahead for 2018.<p>As Republicans iron out the final details and work on getting a bill to President Donald Trump’s desk before the New …

Retirement

The Top 3 Financial Resolutions for 2018 -- and How to Succeed at Them

Most vow-makers fail at their resolutions, but here are some strategies that can help you succeed.<p>The year 2017 is winding down, so it's time to do …

Personal Finance

8 money mistakes to avoid in your 20s

• <b>Set yourself up for financial success in your 30s and 40s by avoiding common money mistakes in your 20s.</b>• <b><br>Even if you don't have money to your name yet, it's important to think about your finances.</b>• <b><br>You should save up a cash fund for emergencies, and take your credit card debt very seriously.</b>• <b><br>You also</b> …

Personal Finance

How to get a membership in the millionaire club

<b>Becoming a millionaire is a giant money goal, but you don’t have to take giant leaps to get there. For blogger J. Money of BudgetsAreSexy.com and</b> …

Business

Even Responsible Savers Make Retirement Mistakes

You've already done the hard work to stash away a nice nest egg for retirement. Don't blow it now. Here are four common missteps that people entering …

Retirement

Meet The New Small Business Owners -- Your Employees!

Tax experts predict that if Congress succeeds in passing the tax cut that Republicans are itching to pass, the new law will create lots of new business activity — but maybe not the kind the bill’s drafters anticipate. Instead, they say, it will spur people to create sham companies in order to …

Entrepreneurship

The Rude Awakening Of Slumbering Bulls

Near the end of each year, Barron’s magazine highlights the outlooks for the next year from 10, or so, Wall Street strategists. As noted recently by …

Business

In Which I Run Several Possible Financial Scenarios, Including One Where I Qualify for a Health Insurance Subsidy

Photo by Roman Mager on Unsplash.<p>Yesterday, my Do 1 Thing was to see if there was <i>any possible way</i> I could qualify for a health insurance subsidy. …

Retirement

Everything you want to know about Medicare's rules on health savings accounts

<b>Editor’s Note:</b> Journalist Philip Moeller is here to provide the answers you need on aging and retirement. His weekly column, “Ask Phil,” aims to help …

Retirement

A wonderful fluke: Owning bitcoin's smaller cousin

One online dictionary defines the word “fluke” as an “unlikely chance occurrence, especially a surprising piece of luck.” Alternative descriptions include chance, coincidence, and accident. All of these synonyms are accurate adjectives for the cryptocurrency market.<p>For the record, I am not …

Investing

The new retirement: Working

For some soon-to-be retirees, retirement will look a lot like their 9-to-5 life.<p>Nearly 3 out of 4 Americans plan to work beyond traditional …

Retirement

What To Know Before Purchasing Cryptocurrencies With Retirement Funds

With the value of Bitcoins and many other cryptocurrencies flying high in 2017, many investors have looked to take advantage of this trend and own cryptocurrencies in tax-advantaged retirement plans, such as a Self-Directed IRA or Solo 401(k) Plan. This article will explore the main points an …

Retirement

Most Investors Do Not Need A Financial Advisor

Do it yourself investing is really straightforward though most people think its above their pay grades.<p>You can use a financial advisor in many …

Business

The Best Advice for Saving as Much as You Can

There’s one question I hear as a personal finance writer more than any other. It’s not how to game the stock market, or become a billionaire—it’s …

Money

Four reasons why your 401(k) may be a giant rip-off

Your retirement plan is making someone rich — and it may not be you.<p>Those were the findings from a recent study of small-business retirement …

Retirement

Four Options for Solving the Problem of Excess Roth IRA Contributions

For example, you filed your personal tax return on or before the April deadline, and you didn't request an extension. After filing, you realize that …

Retirement

How to avoid 10% penalty on early retirement account withdrawals to pay medical bills

Financially stressed individuals sometimes must take early IRA or qualified retirement plan withdrawals — meaning before age 59½. One reason might be …

Retirement

Using IRAs to Save Additional Retirement Funds | Investopedia

Now that you have made the conscious decision to start saving additional funds for retirement outside of your employer-sponsored plan, you should …

Retirement

3 Retirement Accounts That May Be Better Than a 401k

If you don't have a 401k, don't fret -- these other retirement accounts can actually be a better deal.<p>The 401(k) is often considered the pinnacle of …

Retirement

How to Use Credit for Everything You Buy

About five years ago, I got into some credit card debt. (About $14,000 worth, when all was said and done—and I have since paid it off in full.) At …

Money