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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....
Some states tax IRA conversions differently than the federal government. Know the details before you decide on a conversion....
Retirement savers can reap benefits in the conversion if they are able to pay a tax now....
Thinking of rolling over a 401(k) into an IRA? There are tax and flexibility advantages. But tread carefully....
Retirement savings might not have to take a back seat just because your partner doesn't earn income....
The are smart ways and terribly taxing to get funds from an Inherited IRA to a Roth account. Keep reading to learn how to get more tax free income from your inheritance....
I met the blogger Frugal Professor last week when he traveled to my area for a family gathering. I learned from his blog post that he earned over $5,000 tax-free by transferring a Roth IRA to Robinhoo...
These steps, including converting to Roth IRAs, using a Roth 401(k) and leveraging life insurance and annuities, can help reduce your taxes in retirement....
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...
Photo credit: jb Suppose you have a situation where you’d like to leave your IRA (or at least some of it) to a family member or a group of beneficiaries, and then leave the remainder of the IRA ...
All offer great tax breaks as you save for retirement. In addition, there are 403(b), SEP and SIMPLE plans and more. But don't worry. It’s hard to go wrong....
last year I finally decided to retire in early 2025 I was thinking getting a couple months in so I could max my ROTH IRA. Then got to thinking "ill get my last check for my vacation time in January so...
Two retirement plans, the solo 401(k) and SEP IRAs, allow small business owners and the self-employed to save up to $69,000 annually....
Photo credit: jb Many times it is among the best of ideas to establish a Roth IRA for your child. This way, your child can benefit from the long-term growth in the account and have a very good head st...
A couple receives guidance on managing their IRA Contribution and Distribution. As you plan for your retirement, understanding the rules governing Individual Retirement Accounts (IRAs) is essential to...
Why storing gold at home in a self-directed IRA violates IRS regulations and what to do instead....
Lean into a Roth IRA well before your “day one” of retirement....
Photo credit: diedoe I occasionally receive this question: Can I make a non-deductible IRA contribution, and then shortly after convert the IRA into a Roth IRA? My income is too high for me to make a ...