Roth IRA

Tax Hit Converting to a Roth

Turning your individual retirement account into a Roth IRA can seem great. Pull the trigger too quickly, though, and you may owe cash to the taxman.

Young Adults, Go With Roth

For the young, Roth accounts are very smart ways to save money for retirement. That’s because they pay taxes on the contributed money up front, when their income is low, and can enjoy that money later without the Internal Revenue Service taking another slice. Traditional accounts defer taxes until retirement, when folks usually are in a much higher tax bracket than they were when starting out in life.

Proposed Budget’s IRA Impact

The proposed U.S. 2015 budget contains, predictably from President Barack Obama, tax breaks for working families and curtained breaks for the rich. The nearly $4 trillion budget proposal also seeks potential changes, good and bad, to your individual retirement accounts.

How to Maximize Retirement $

Your quality of life in your last years depends on your retirement savings, such as your 401(k). Such plans give you the best means to bringing you the wealth you will need. But many investors haven’t a clue how to navigate them.

Your 401(k) or other retirement plan from your employer is your most valuable retirement savings resource – if not your only one. To make use of these tax- advantaged plans to save for your golden years:

The New Military Benefits

If you are military, either part time or fulltime, a grateful nation has set up tax, pension and other benefits to help you. You should know about changes and improvements that occurred in some of them.

What’s the Point of myRAs?

President Barack Obama’s State of the Union address included announcement of the new, supposedly easier retirement savings plans, or “my Retirement Accounts” (myRAs). Do we need them? No.

Obama’s Dud Retirement Plan

President Barack Obama’s plan for government-backed starter retirement accounts, unveiled in his January State of the Union message, has two major problems: The minimums are too low to make a difference in building wealth and inflation will consume the meager gains.

Obama dubbed his new retirement savings plan MyRA. The first rule in marketing is a name easy to pronounce. Confusion reigns. It is not MyIRA, or Myra, a girl’s name. It’s My-are-a, I think.

Finding Money for Your IRA

Funding a retirement account is not as hard as you may think. It takes some diligence. When was the last time you found $5,500 lying on the sidewalk? Or under your bed? Or randomly added to your bank account?

What if I told you it is relatively simple to find enough money ($5,500, to be exact) in your current budget to fully fund one of the most important retirement savings plans available to you – the Roth individual retirement account? This method works whether you are in Generation Y or older.

How to Move to a Roth 401(k)

You need the most flexibility possible when funding your retirement. But moving your retirement money into a Roth 401(k) is a complex subject, and there are plenty of pitfalls to watch out for.

Here’s how new regulations do and don’t benefit you.

Maxing IRA Contributions

Did you contribute all money allowed to your individual retirement accounts last year? Probably not. Here’s how to make up for that and save better in 2014.


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