(Photo: Shutterstock) We can all agree that building our retirement savings is an important goal. Statistics make it clear that we are living longer and when we combine that with the fact that we want to retire sooner leaves a decades-long gap that few people are prepared to deal with. While Social Security was once the intended funding source for people’s retirement, today … [Read more...] about Opinion: U.S. retirement savings options are a disaster
Converting? Don’t Forget Medicare – Retirement Daily on TheStreet: Finance and Retirement Advice, Analysis, and More
By Patrick Kuster, AIFWhen deciding to convert traditional IRA funds to a Roth IRA, we generally start by thinking in terms of taxes. I mean, if it wasn’t for taxes, why would we consider converting in the first place? But we don’t want to convert too much in any given year, as we don’t want to put ourselves in too high of a tax bracket or pay more taxes than we can stomach. … [Read more...] about Converting? Don’t Forget Medicare – Retirement Daily on TheStreet: Finance and Retirement Advice, Analysis, and More
How Do Mega Backdoor Roths Work? – The Madison Leader Gazette
A mega backdoor Roth is a unique 401(k) rollover strategy that’s designed for people whose incomes would ordinarily keep them from saving in a Roth Individual Retirement Account. The advantage of using a Roth IRA to save for retirement is being able to make tax-free qualified withdrawals. But not everyone can contribute to these accounts; higher-income earners are excluded. … [Read more...] about How Do Mega Backdoor Roths Work? – The Madison Leader Gazette
Average 401(k) Continued Hot Streak in July
While it slipped a bit at the end, July turned out to be another good month for the equity markets—and those average 401(k) balances? Well, it turned out to be a good month for them as well, extending the gains that they’ve experienced in recent months. The S&P 500 notched its sixth consecutive month of gains, rising 2.3% in July, while the Dow gained another 1.3%, just … [Read more...] about Average 401(k) Continued Hot Streak in July
Owner seeks appeal of dangerous dog designation after 2-year-old attacked
August 06, 2021 LUMBERTON — The Robeson County Sheriff’s Office, with the assistance of the U.S. Marshals Service Carolinas Fugitive Task Force and Federal Bureau of Alcohol, Tobacco, Firearms and Explosives, has arrested more than 30 people since Thursday, including a man who threatened a judge. Multiple warrants throughout Robeson and surrounding counties were served … [Read more...] about Owner seeks appeal of dangerous dog designation after 2-year-old attacked
Sen. Young withdraws support for $1 trillion infrastructure bill
U.S. Sen. Todd Young of Indiana. (IBJ file photo) While most of the bipartisan coalition seeking to push a $1 trillion infrastructure package through the U.S. Senate appears to be holding together, Republican Sen. Todd Young of Indiana withdrew his support Sunday for the pending legislation. “While I’m eager for a bill that … [Read more...] about Sen. Young withdraws support for $1 trillion infrastructure bill
Some Texas School Districts Are Ready To Battle Abbott Over Masks
Texas Governor Greg Abbott has issued an executive order banning local officials from instituting mask mandates and other restrictions due to the Coronavirus pandemic. The executive order from Governor Abbott includes school districts not being able to issue mask requirements.While Abbott's order is known by all school districts, it appears as though some districts are ready to … [Read more...] about Some Texas School Districts Are Ready To Battle Abbott Over Masks
The Executor’s Guide to Retirement Plan Distributions: Income Taxes
When retirement benefits are payable to a decedent’s estate, what unique obligations and opportunities does the executor of the estate have with respect to those benefits? Last month, we looked at the executor’s responsibilities regarding required minimum distributions for such benefits as “Part 1” of my answer to the above question from an advisor. This month, we look at the … [Read more...] about The Executor’s Guide to Retirement Plan Distributions: Income Taxes
Are Brokerage Accounts Taxed?
Brokerage accounts can be taxed depending on the type of account.There are three main types of brokerage accounts: traditional retirement accounts, Roth retirement accounts and taxable nonretirement brokerage accounts. Each type of account receives a different tax treatment.Retirement accounts are tax deferred, meaning you pay no taxes on any earnings within the account. … [Read more...] about Are Brokerage Accounts Taxed?
Texas woman searches for dog lost after car wreck on I-95 near St. Pauls
August 06, 2021 LUMBERTON — The Robeson County Sheriff’s Office, with the assistance of the U.S. Marshals Service Carolinas Fugitive Task Force and Federal Bureau of Alcohol, Tobacco, Firearms and Explosives, has arrested more than 30 people since Thursday, including a man who threatened a judge. Multiple warrants throughout Robeson and surrounding counties were served … [Read more...] about Texas woman searches for dog lost after car wreck on I-95 near St. Pauls