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What do you do with the pennies your money earns between the contribution and conversion to a Backdoor Roth IRA? Not much. The post Pennies and the Backdoor Roth IRA appeared first on The White Coat I...
An IRA or 401(k) can help you supercharge your retirement savings. We'll help you pick one or opt for both....
Should I try to keep my IRA spend down such that my year-end value stays the same every year, goes up with inflation, or draws down to leave just a small amount at the end of my life expectancy. I und...
Your traditional IRA has served you well, but when your heirs inherit it, watch out. Consider some of these strategies to minimize their tax burdens....
Ever since I started saving for retirement in 1999, I’ve been a proponent of tax-deferred retirement vehicles like the 401(k) and skeptical of tax-now vehicles like the Roth IRA. Working in bank...
An IRA could be useful to restrict certain inherent rights that are required within qualified retirement plans covered by ERISA. The post Using An IRA Rollover to Eliminate Federal Spousal Rights appe...
Inherited IRAs often incur unnecessary taxes because heirs don't know some key rules....
Given that only about half of private sector workers are covered by an employer-sponsored plan at any given time, 16 states have launched – or are in the process of launching – auto-IRA pr...
The IRS announced changes to retirement contribution limits to help workers boost their retirement savings with cost-of-living adjustments. Whether you’re saving through a 401(k), IRA, or anothe...
Think you might want to open a Roth IRA? Roth IRAs offer tax-free growth of your investments and no RMDs, but income limits are low and you have to wait to withdraw earnings....
Financial advisors, tax professionals and their clients will need to make careful planning decisions about claiming Social Security benefits and starting distributions....
A complex mixture of new or expiring laws, intersecting retirement planning questions and the threat of so-called stealth taxes could add up to a highly beneficial strategy....
Many Americans are potentially missing out on retirement savings by falling victims to the 401(k) to IRA rollover cash trap. According to Andy Reed, head of investor behavior research at Vanguard, &ld...
Planning for a financially secure retirement is crucial. One effective strategy is to invest in a Gold IRA. A Gold IRA, or Precious Metals IRA, is a unique investment vehicle that allows you to divers...
The amount individuals can contribute to 401(k)s in 2025 has increased by $500 to $23,500, but the IRA limit remains $7,000....
IRS inflation adjustments typically mean higher contribution limits for the new year....
I have an outstanding collection of resources on a variety of topics this month. We’ll explore financial planning concepts including Roth IRA conversions, building bond ladders, and performing 5...
I am 52 and I am always thinking ahead. Hypothetically, let's say I have $1 million in a traditional IRA and I get laid off this Fall (before 2025). If I don't earn income in 2025, why would I not tra...
I am considering retiring for a second time in a year from now with a fairly small (currently $38k) 401k, after 10 years at my current employer. My wife has already stopped working and left her 401k (...
The first Secure Act was a "game-changer for IRAs and Roth IRAs," according to a retirement expert. Here's the compelling case for paying taxes sooner....
To navigate complex rules on inherited IRAs and RMDs, start by breaking down key terms and common scenarios. A clearer picture of your next steps will emerge....
Some 401(k)s allow for in-service withdrawals at age 59½, opening up greater investment options. Here are three reasons for taking the plunge....
How much money have you saved in your IRA or 401K? Making contributions to one of these tax-deferred retirement accounts is easy. But withdrawing this money in retirement… gets complicated.&hel...
In recent years, 16 states have launched or are preparing to launch auto-IRA programs that require employers without a retirement plan to auto-enroll their workers in an IRA. Although studies have beg...
A SIMPLE IRA through a small employer is often set up with an expensive broker. Roll it over to a Traditional IRA after two years. Learn the Nuts and Bolts I put everything I use to manage my money in...
I think I know the right answer but …I plan to retire at some point next year and I know I have to roll my 401k and pension into a IRA but do most pull out the money on a monthly basis or pull ...
Should David in Ohio use 457 funds to do an in-plan Roth conversion in his 403(b) plan, and should he hire a financial advisor? Chris in DC needs a retirement and Roth conversion spitball analysis, an...
Mark asks a common question – What should I do regarding my withdrawal strategy? Should I first pull from my brokerage account or my IRA? There is no one-size-fits-all answer, but James provides...
James explores the nuanced aspects of Roth IRAs, shedding light on intricacies that can confound even experienced investors. Through a listener question from Manfred, a retiree contemplating a $50,000...
Knowing how your IRA balance compares to your peers could be the nudge you need to save more for retirement....
Learn to make smarter financial decisions with math-driven strategies. James Lange shows how Roth IRA conversions and tax planning can maximize wealth and reduce taxes....
An IRA distribution can be used to reduce or eliminate those pesky quarterly estimated tax payments. See how. The post Using an IRA Distribution and Withholding to Reduce Estimated Tax Payments appear...
I was sitting around the campfire last weekend, enjoying the warmth of the flames and the comforting crackle of burning wood. My cousin, a financial advisor brimming with enthusiasm, leaned over and b...
Here are three primary reasons you might want to consider moving your retirement money from your 401(k) to an IRA once you retire....
I just put in a three-month notice to retire on December 13 (Friday the 13th struck me as a funny date). My health insurance will be MedEx at 300/month and will cover everything, my IRA is good, Socia...
Yale's successful endowment focuses on alternatives. With a self-directed IRA, an individual investor could design a portfolio based on similar principles....
The IRS has issued final rules on taking required distributions from an inherited IRA, and warns that the reprieve on penalties for adult children and other non-spouse beneficiaries who don't comply w...
One of our listeners actually has a better mortgage rate than me! However, as they begin to test their retirement budget they have found that the mortgage payment leaves that budget a bit tight. So th...
Here's how the return of a $7K investment in an IRA is determined, and why compounding can boost growth....
Inherited traditional retirement accounts come with tax burdens and restrictions that were increased in recent IRA regulations....
I posted this in r/personalfinance with no response. This subreddit may be a better place. I have a TSP account from prior employment. I am semi-retired and only working part-time. I would like to inv...
In this episode we’re answering listener voicemails and tackling some tough questions about Social Security, RMDs, estate planning, and more. First up, we help Diane, whose husband is a minister...
An Individual Retirement Account (IRA) is a tax-advantaged savings account to help you boost your nest egg. Learn which type of IRA is best for you....
Here's a look at the differences between an IRA and 401(k) plan....
The latest stock market correction cost me about five times what I made consulting part-time for four months. If I were smarter, I would have sold 100% of my rollover IRA before stocks started to tumb...
I have 401ks, SIMPLE and Traditional. In preparation for retirement I’d like to simplify by rolling my 401k and SIMPLE IRAs to one Traditional IRA. Assuming I keep the same funds, are there any ...
The single biggest retirement planning mistake to avoid, the problem with tax professionals, and answers to some of the most frequently asked retirement questions we get on YMYW: should you name a tru...
Consider the idea of not converting any, some, or all of your Traditional IRA to a Roth IRA and go against the conventional wisdom....
At Keen Wealth, "tax season" is never really over. Our checklist-driven, comprehensive planning process is constantly taking in new information about the folks we work with and changes to tax law. By ...
Federal law gives IRAs limited protection from creditors, and some states provide even more asset protection....