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Estate Plan: Roth Conversion?

Submitted by Stephen P. Giulietti on Monday, December 8, 2014 - 12:00pm

Your individual retirement account can constitute one of the richest assets you can leave to heirs. In some circumstances, your heirs benefit if you convert your traditional IRA to a Roth before your death. Whether to convert depends on many of your needs and circumstances.

Best Use for Your IRA

Submitted by Jim Blankenship on Tuesday, December 16, 2014 - 12:00pm

An individual retirement account is a powerful tool to save for retirement outside of an employer plan. If you have an IRA, read on for tips that help you make the most out of it.

2 Helpful Tax Strategies

Submitted by Harold Wong on Tuesday, December 2, 2014 - 3:00pm

If you’re like most taxpayers, you have no clue about the most effective tax strategies for these financial vehicles – especially if you lack access to expensive accountants and attorneys. Here’s some guidance.

Untangle Retirement Taxes

Submitted by Eric Meermann on Thursday, November 13, 2014 - 12:00pm

When the Internal Revenue Service leaves a situation vague, sometimes you must guess at the answer to a tax question. The IRS recently issued a clear ruling, though, on a powerful contribution strategy that may change how you use your employer’s retirement plan.

Converting to a Roth IRA

Submitted by Jeff Rose on Monday, November 10, 2014 - 3:00pm

Turning your individual retirement account into a Roth IRA is not a totally black-and-white decision. Understand the rules first, especially relevant tax laws.

Traditional IRAs are largely based on income tax deferral, which means you get a tax break on your contributions in the current year. In retirement, your withdrawals incur income tax.

Make Your Money Last (Pt. 1)

Submitted by Jeff Rose on Tuesday, October 14, 2014 - 12:00pm

You retire and don’t even own an alarm clock anymore. Then it hits you: Can you really afford this lifestyle? Did you save enough and invest right? How long will your money last?

This first of two articles presents strategies to ease your worry about outliving your savings.

Plan a bigger portfolio than you think you’ll need. When planning for retirement, never imagine you’re going to get off easy. Think the opposite.

Why Millennials Need Roth IRAs

Submitted by Grant Webster on Monday, August 18, 2014 - 12:00pm

If 20-somethings ask me what to do to get ahead financially, I have a laundry list: create a budget, start investing now, be smart about your taxes and so on. If I absolutely have to narrow it down to one thing, I’d say, open up a Roth individual retirement account.

Why Switch to a Roth 401(k)?

Submitted by Jim Blankenship on Friday, August 15, 2014 - 12:00pm

Beginning in 2013, you could roll over all your standard 401(k) funds to a Roth account in the same retirement plan. But such a move may not be good for you. While the upside of a Roth is tax-free money in the future, converting creates an extra tax burden today.

Rules for a Roth 401(k)

Submitted by Jim Blankenship on Monday, August 11, 2014 - 12:00pm

If your employer sponsors a 401(k) plan for you to participate in, you may also have a Roth 401(k) option. Electing that option depends on your other retirement plans, tax outlook and many other factors.

Traditional or Roth IRA?

Submitted by Travis Russell on Thursday, August 7, 2014 - 3:00pm

Saving for retirement means you must sort out countless and confusing options from 401(k)s to individual retirement accounts. How much you make and whether you’re self-employed or have a company-sponsored retirement plan are just a few criteria to determine which to chose. One of your first questions: What’s the difference between a traditional IRA and a Roth IRA?

Many clients at our firm ask this when looking to maximize retirement savings. To understand which option may be better, let’s look at the differences and nuances between the two types of accounts.

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