Roth

Roth 401(k) Changes: What You Should Know for 2024

Key changes to Roth 401(k) account rules may affect your tax planning and retirement savings....

Roth IRAs Holdings Have Shot Up among Young Households

Looks like fintech is working its magic. Based on an inquiry from a reporter, my colleagues JP Aubry, Yimeng Yin, and Angie Chen have been fooling around with data on holdings of Roth IRAs from the Fe...

How Non-Traded REITs Could Give Your Roth IRA a Boost

In addition to increasing the diversity of your portfolio, adding a non-traded REIT within your Roth IRA allows the resulting dividends to grow tax-free....

Split-Year Backdoor Roth IRA in FreeTaxUSA, 2nd Year

The previous postSplit-Year Backdoor Roth IRA in FreeTaxUSA, 1st Yeardealt with contributing to a Traditional IRA for the previous year and recharacterizing a previous year’s Roth IRA contributi...

Traditional Retirement Accounts or Roth? How to Choose

Let’s compare traditional IRAs, traditional 401(k)s, Roth IRAs and Roth 401(k)s. Which might work best for you could depend on your income and tax status....

Split-Year Backdoor Roth IRA in FreeTaxUSA, 1st Year

The best way to do abackdoor Rothis to do it “clean” by contributing *for* and converting in the same year — contribute for 2023 in 2023 and convert in 2023, contribute for 2024 in 2...

Backdoor Roth in H&R Block: Recharacterized in the Same Year

You may have contributed to a Roth IRA and then realized later in the year that you would exceed the income limit. You recharacterized the Roth IRA contribution as a Traditional IRA contribution and c...

Split-Year Backdoor Roth IRA in H&R Block, 2nd Year

The previous postSplit-Year Backdoor Roth in H&R Block, 1st Yeardealt with contributing to a Traditional IRA for the previous year and recharacterizing a previous year’s Roth IRA contributio...

Split-Year Backdoor Roth IRA in H&R Block, 1st Year

The best way to do a backdoor Roth is to do it “clean” by contributing for and converting in the same year — contribute for 2023 in 2023 and convert in 2023, contribute for 2024 in 2...

Roth Conversions: Convert Everything at Once or as You Go?

Two hypothetical examples of Roth conversions made at different times (all at once vs as you age) show a stark difference in what could be left for your beneficiaries....

Should I Consider the Roth 401(k)?

The Roth 401(k) is gaining in popularity due to employers offering it inside their plans and also thanks to provisions in the Secure Act 2.0 that only pertain to the Roth option. The question is, is i...

Backdoor Roth in TurboTax: Recharacterize & Convert, Same Year

You may have contributed to a Roth IRA and then realized later in the year that you would exceed the income limit. You recharacterized the Roth IRA contribution as a Traditional IRA contribution and c...

Backdoor Roth in TurboTax: Recharacterize and Convert, 2nd Year

The previous post Backdoor Roth in TurboTax: Recharacterize and Convert, 1st Year dealt with contributing to a Traditional IRA for the previous year and recharacterizing a previous year’s Roth I...

Backdoor Roth in TurboTax: Recharacterize and Convert, 1st Year

The best way to do a backdoor Roth is to do it “clean” by contributing *for* and converting in the same year — contribute for 2023 in 2023 and convert in 2023, contribute for 2024 in...

Know How To Make A Tax-Free Rollover From 529 Plan To A Roth IRA

A recent law allows tax-free rollovers from 529 plans to Roth IRAs, but there are hurdles to be cleared....

Is A Roth IRA Better Than A 529 Plan?

Are you a parent looking for the best way to build a savings account for your child? Here’s a common question many seek the answer to....

The 529 to Roth IRA Rollover (Including for Yourself)

[Editor's Note: If you’re looking to take immediate steps to increase your income that will continue you on the path toward financial security, enrollment is now open for Expert Witness Startup ...

6 Strategies to a Roth IRA for High Income Earners

High income earners may face limitations when contributing to a Roth IRA due to income restrictions. However, there are several strategies they can employ to maximize the benefits of a Roth IRA or fin...

The Backdoor Roth IRA When Life Is in Flux (and Why to Beware a Contribution in January)

By Dr. Tyler Scott, WCI Columnist As the daylight fades ever earlier and the hushed softness of newly driven snow quiets the world around me, I, in only the second winter of my newly blossomed financi...

Roth IRAs Are NOT a Bad Investment

Today, Dr. Jim Dahle debunks an article recently published titled “Why a Roth Is a Bad Idea ( Yes, You Can Lose Money).” He spends time educating on why a Roth is a fantastic place to put ...

Fidelity Roth Conversion: Why, and Step-by-Step Instructions

One of the advantages of reduced income due to leaving my full-time career is the opportunity to execute a Fidelity Roth conversion. Roth conversions allow investors to transfer money from a 401(k), t...

Custodial Roth IRA: Is It Right For You?

Custodial Roth IRAs have become popular for parents looking to help their children build their savings. These accounts offer a ... Read more...

How I Failed and Then Mastered the Backdoor Roth IRA

By Dr. Rikki Racela, WCI Columnist The founder of this website is often baffled by the amount of questions/grievances/headaches that WCI followers face when attempting the Backdoor Roth IRA. It seems ...

Is It Time To Convert Your IRA To A Roth?

If you have a big wad in a pretax IRA, sit down with your accountant now....

Roth 401(k) vs Roth IRA

According to Becker’s Hospital Review, 74 percent of doctors are either corporate or hospital employees. As of a 2021 study, ... Read more...