“There will never be a better time than now,” declares one tax attorney cited in today’s article in regards to converting your traditional IRA to a Roth IRA. And many financial planners are expressing the same sentiment. Why? The GOP tax bill reduced most rates, and converting now allows individuals to pay taxes on retirement savings at a lower rate…
With a few exceptions (e.g. collectibles, life insurance), you can own pretty much anything in an individual retirement account, from real estate and precious metals to farming interests and church bonds. And with concerns that the stock market is overvalued (and rising interest rates affecting bond prices), nontraditional assets – with their juicy return potential and diversification benefits – may…
According to the Bipartisan Policy Center, there are approximately 25 million orphaned retirement accounts – i.e. accounts left with former employers – in existence today. If one (or more) of these accounts belongs to you, what’s the best way of handling these abandoned funds? Today’s article looks at the pros and cons of three options – keeping the 401(k) with…
In this case a race to the bottom is a good thing: In an effort to attract new customers and increase market share in an extremely competitive business, mutual fund companies are battling it out for who can offer the lowest-cost ETF – and the resultant rock-bottom fees are great news for retirement savers. The author of today’s article highlights…
The author of today’s article notes that Individual Retirement Accounts have become a lot more complicated in a number of critical ways since their introduction in the 1970s. As such, he provides a comprehensive overview of the internal workings of IRAs – including the various types of IRA accounts, funding options and distribution of funds. He then proceeds to outline…
“This is a big deal and it will help a lot of people,” declares a certified public accountant in today’s article on the Internal Revenue Service’s easing of a rule that previously had retirement savers who exceeded the 60-day window for IRA rollovers face substantial taxes and penalties. Under the new relaxed guidance, retirement savers who do not roll over…
“Wall Street has done a remarkably thorough job of brainwashing investors into rolling their old 401(k) accounts into individual retirement accounts,” argues the author of today’s article which looks at why rollovers may be good business for financial services firms but a lousy choice for retirement investors. What does the author believe you should really be thinking when financial firms…
“Consolidation of any accounts boils down to making it easier to coordinate your portfolio moves and do your asset allocating…The less your assets are spread around, the easier it is to keep track of them and assess what you’ve got.” Today’s article provides an overview of what you may – and may not – want to do when it comes…
Might the generation that is the furthest away from retirement – millennials – actually be the most retirement savvy? Today’s article argues that “despite the long time horizon, millennials recognize the importance of saving for their retirement” and outlines the specific ways in which this generation is “getting it right”. What can be learned from millennials about tacking expenses, saving,…
“One of the most dangerous positions to be in financially is when you’re rolling over a 401(k) plan into an individual retirement account (IRA). Any number of financial services providers would love to get their hands on your money, but may trap you into lousy deals.” Today’s article stresses that some 401(k) education is essential if one wishes to avoid…