Financial advisers weigh in on the personal finance guru’s latest warning about individual retirement accounts, and how to use them Personal finance celebrity Suze Orman says retirement savers should steer clear of traditional accounts in lieu of Roth accounts, especially during this global pandemic. But like everything else in personal finance, that advice largely depends…

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Consider all of the options when transitioning a work-sponsored retirement plan. Getty Images Every week, millions of Americans are filing for unemployment due to the COVID-19 crisis. Whether you’ve been with a company for six weeks or six years, if you lose your job, there are plenty of options for what to do with your vested…

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The deadline to contribute to IRAs and HSAs is Tax Day. mixetto/Getty Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective. The federal tax deadline is July…

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The IRS is expected to come out with additional guidance, but here’s what we know so far. Getty Images The coronavirus stimulus package, known as the CARES Act, allows retirees who are 72 or older to skip required minimum distributions from IRAs and other tax-deferred accounts for 2020. Here are answers to questions about the waiver. I…

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Many retirement savers can get an extra-good deal on Roth conversions right now. Here’s why. Getty Images While we hope for an end to the current coronavirus pandemic, there may be a silver lining for retirement savers during this time of disruption. If you can manage doing a Roth IRA conversion, you’ll likely pay a…

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Getty GETTY Do you have a traditional IRA that will produce ordinary income on distributions?  Would you like to possibly mitigate income taxes on those distributions for yourself as well as your heirs? Financial markets have declined over recent weeks, as investors digested evidence of a steep downturn among the world’s largest economies. The COVID-19…

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How households, businesses, taxes and more are affected by the package The stimulus package adds $27 billion to an emergency fund that could give a boost to dozens of projects by pharmaceutical companies and academic groups developing drugs and vaccines against coronavirus. Here, people carry donated boxes of N95 masks. PHOTO: JERRY HOLT/STAR TRIBUNE/ASSOCIATED PRESS The $2…

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KEY POINTS “Asset location” involves strategically putting your investments in accounts based on the type of tax treatment they will get. If you have money in both a traditional 401(k) plan or IRA and a Roth version, there may be ways you can maximize the differences in taxation to reduce the amount you’d owe in…

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How can I make the most out of my social security benefits? Check out this video where Gregory gives you ways to help max out your social security check. How do I plan for unexpected expenses? As a starting point, we typically recommend that our clients maintain an emergency reserve of about 3-6 months’ worth of…

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