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IRA Calculation Errors
Five things that people get wrong about retirement arithmetic. There is something about retirement that leaves investors in an arithmetic fog. Maybe it’s the marginal tax rate or the compounding or the deferral that gets their numbers all jumbled up. Here are five things that people get wrong about IRAs and 401(k)s, usually because they…
Read More5 Big Issues Facing Your IRA (And How To Resolve Them)
It’s that time of year when, if you’re like most people, you begin to once again turn your attention to your IRA. The year-end statements are starting to trickle in, so you might feel the urge to re-evaluate things and perhaps make some changes. But, do you really know what you should be looking at?…
Read MorePODCAST44: Reasons to convert to a Roth
Learn how Roth IRAs can save you on taxes in retirement. Complimentary download to go with this episode:
Read More3 Reasons to Open a Roth IRA in 2021
Nearly 25 million people own Roth IRAs, according to the Investment Company Institute, but that’s a far cry from the number of Americans who could contribute to one if they wanted. While a Roth IRA isn’t the best retirement account for everyone, it has some distinct advantages that make it worth considering, especially for those…
Read MoreIRS Reduces Future Required Minimum Distributions Just A Little
The IRS recently issued proposed regulations that will reduce required minimum distributions (RMDs) on IRAs, other qualified retirement plans, and annuities. It’s a small help for retirement account owners who don’t need all the money they’re required to take from their plans each year. Most owners of IRAs and other qualified retirement plans who turn…
Read MoreWednesday Q&A Should I cash out my old 401k or roll it into an IRA?
Should I cash out my old 401k or roll it into an IRA? A Winning at Life caller has a question about what to do with an old 401k from an old job. Should he roll it into an IRA or cash out? Get Gregory’s thoughts in this clip from the show. Do you have…
Read MoreThe difference between a Roth 401(k) and a traditional 401(k), and how to decide which retirement plan is right for you
Roth 401(k)s and traditional 401(k)s are similar in many ways, but they differ in how your contributions and withdrawals are taxed. Traditional 401(k)s offer up-front tax breaks; you pay the IRS on withdrawals when you retire. With Roth 401(k)s, you pay taxes on deposits, in exchange for tax-free withdrawals later. When deciding between a Roth…
Read MoreThe ‘Stretch IRA’ Estate Planning Strategy Is Gone. Here Are 4 Other Options.
The Covid-19 era is a mess, and we’re still in the middle of it. But life goes on. So, let’s be more open to doing what we would do in more normal times. What I normally do is give tax advice. Here’s some updated estate planning advice for well-off folks to consider. Evaluate “stretch…
Read MoreOpinion: 10 things you should know about diversification
Picking a winner is harder than you think Holding a variety of assets reduces your portfolio’s overall level of risk. GETTY IMAGES/ISTOCKPHOTO One of the most important ways investors take care of their portfolios is by diversifying their holdings. If you’re not sure exactly what diversification is, or how to make it work for you,…
Read MoreNearing Retirement? Take Another Look at Roth Conversions
Due to lower tax rates and the recently passed SECURE Act, those nearing retirement should consider a Roth conversion. For those nearing retirement, taking the right planning steps is even more important, given the narrowing time frame to leaving the workforce. This current year brings forth planning opportunities to help you achieve your retirement goals…
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