Taxes
How Proactive Tax Planning Improves Your Financial Plan
…proactive tax planning can help you build your nest egg: Begin saving in a Roth IRA early in your career when your taxable income is relatively low. As your income…
Search Results for: roth ira
Financial Planning
Market Based Cash Balance Plan Considerations for Delta Pilots
…eventually taxed if not rolled into a Roth IRA. For the purposes of this article’s focus, we’ll forgo the discussion on the pros and cons of 401(a) contributions — for…
Financial Planning
What to Do if Your Employer’s Retirement Plan Is Bad
…sense to contribute to an individual retirement account (IRA). There are two main types of IRAs to consider: Traditional IRA – Traditional IRAs are funded with pre-tax money, which can…
Financial Planning, Retirement
How to Turn Your Savings Into Retirement Income
…while taking withdrawals from a portfolio. Strategy #3 – A tax-effective withdrawal plan If you have your retirement assets spread across multiple account types (IRAs, 401(k)s, Roth IRAs, taxable accounts,…
Financial Planning, Taxes
Great Tax-Advantaged Accounts to Consider
…experience more growth. Tax-exempt account types include: Roth IRAs – Roth IRAs allow you to pay taxes on your contributions in the current year in exchange for tax-exempt growth and…
Financial Planning, Retirement
How to Prepare for Retirement as a Stay-at-Home Spouse
…for those age 50 and older. If you decide to make spousal IRA contributions, it’s important to confirm you meet income eligibility (for Roth IRAs) or the requirements to deduct…
Financial Planning
Health Savings Accounts: The Best “Roth” Ever?
…a retirement account, in some ways they’re better than even the venerable Roth IRA itself! The Benefits of HSAs HSAs incorporate some of the best features of both traditional and…
Financial Planning
5 Financial Tips for Young Adults
…over time. Don’t have access to an employer-sponsored plan? Consider opening an individual retirement account (IRA). There are two main types of IRAs: traditional and Roth. Traditional IRA –Contributions are…
Financial Planning
Year-End Financial Planning
…2021, it might make sense to take advantage of your lower tax bracket to complete a Roth conversion. Converting your pre-tax retirement plan(s) to a Roth IRA can help protect…
Financial Planning
Is Your Pension Enough?
…annual contribution limit for traditional and Roth IRAs is $6,000 for those under age 50, and $7,000 for those age 50 and older. Roth IRA contribution limits are gradually phased…
