24/7 Wall St.12h
Should I open a Roth IRA at 24 despite market volatility and overwhelming investment options?
The stock market has been volatile in recent weeks as President Trump and DOGE institute big new changes to government ...
SmartAsset on MSN16h
With $400k in Income, Can We Use a Backdoor Roth to Cut Down on Lifetime Taxes?
A backdoor Roth conversion can save you significantly in future taxes, but at the cost of paying those taxes now. This isn't ...
24/7 Wall St.16h
I'm on track for a multi-million 401(k) - is there a 'too big' balance that forces me into higher taxes later?
It’s an unfortunate thing that many people enter retirement with little to no money in savings. But in this Reddit post, we ...
IRA Conversion to Roth: Rules to Convert an IRA or 401(k) to a Roth IRA
IRA conversion: traditional accounts to Roth . If you have a traditional IRA, converting it could be a simple matter of ...
Ed Slott: How Roth IRAs Can Help With Estate Planning
A Roth IRA can be accessed anytime for any reason and is tax- and penalty-free. With the Secure Act, a Roth IRA can continue ...
American Society of Pension Professionals & Actuaries1d
IRA Ownership, Balances Growing Steadily: CRS
In a hopeful sign regarding saving by younger generations, the CRS data by age group shows that between 2019 and 2022 the ...
Slash Your Retirement Taxes: The Reverse Mortgage Advantage
Explore the tax benefits of reverse mortgages, including strategies for Roth conversions and delaying Social Security.
I'm 60, retired, and have around $2 million in my 401(k). How do I plan my withdrawals in a way that minimizes taxes?
You can start taking money from your 401 (k) penalty-free at age 59 ½. So you shouldn't be penalized if you are 60 and ...
John's January 2025 Retirement Income Update: Seven Dividend Increases
For 2025, we are focusing on preferred shares due to their attractive yields and lower risk. Check out John and Jane's ...
Hoping to bring down tax bill? Even in 2025, you can influence last year’s return
Review and file an amended tax return: If after filing your taxes you discover missed deductions or credits for 2024 or ...
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 ...
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.