Roth IRA

Massive retirement savings aren’t just for venture capitalists who hit it big with Silicon Valley startups.Many high-earning professionals in corporate America, from doctors and lawyers to executives and airline pilots, can accumulate a seven-figure or more retirement cache of tax-free profits using a loophole known as a mega backdoor Roth conversion.Those high earners make up … [Read more...] about How high-earning professionals from executives to lawyers can use their salaries to build a mega Roth IRA for retirement

Investors may be cheering the stock market's performance over the last year and looking to take a profit from their growing portfolios.But, doing so could mean they owe Uncle Sam.The stock market has been on a tear — today's selloff notwithstanding — since slumping in March 2020 due to coronavirus concerns. On Monday, the S&P 500 doubled its level from the pandemic low, … [Read more...] about Stock trading could mean a hefty tax bill. What you need to know

You don't have to be wealthy to start investing — $100 is a perfectly fine amount to tuck away. We asked five financial planners how best to invest that $100 and they suggested Roth IRAs and more. Consider target-date funds, investing in new skills, or putting money into a health savings account. Read more … [Read more...] about 5 Financial Planners on How to Invest Your First $100

GCShutter | E+ | Getty ImagesThe entire cryptocurrency market climbed to more than $2 trillion over the weekend for the first time since mid-May.Bitcoin, one of the more popular digital offerings, also surged to more than $48,000, though it has already lost some of those gains.If you're like many investors, you may be wondering how you can get in on the action. That could … [Read more...] about Why experts say cryptocurrencies are not the best fit for IRAs

Editorial IndependenceWe want to help you make more informed decisions. Some links on this page — clearly marked — may take you to a partner website and may result in us earning a referral commission. For more information, see How We Make Money.IRAs exist for one reason: to shield you from taxes while you invest for retirement. There are four types of IRAs, which stands for … [Read more...] about What Is an Individual Retirement Account (IRA)?

What do you think you know about the Thrift Savings Plan? Do you think you are an expert? Well, there are common misconceptions about the TSP and we’ll look at the major ones in this article. There are three widely held misconceptions regarding the TSP. Perhaps the most widely held misconception about the TSP is that one will face a 10% early withdrawal penalty on anything they … [Read more...] about TSP: Common Misconceptions

When it comes to solid financial planning, the truth remains that you'll reap huge benefits by doing a few key things correctly. You don't need to be a perfectionist or a fortune teller, but you do need to take some basic actions as soon as possible to put yourself on the right long-term track. Here we'll explore some of these actions that anyone can do -- or at least begin to … [Read more...] about 4 Moves to Ensure You’re a Retirement MultiMillionaire

In this episode of Motley Fool Answers, Motley Fool senior analyst Jason Moser joins us to answer your burning questions about stocks! Including dividend stocks, spicy stocks, stocks about to be acquired, and more.  To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center. To get started investing, check out our quick-start guide to investing … [Read more...] about Answers to Questions About Stocks

Slowly but surely, states are adopting programs to provide retirement plan coverage to people whose employers do not. The plans that are in place are growing in participation and assets, but what does an industry insider think? To provide an idea of what a private-sector retirement plan service provider thinks of state-run retirement plans, Chad Parks, Founder and CEO of … [Read more...] about State-Run Retirement Plans: An Insider’s Perspective

When it comes to taxes, we all have to pay the piper. In this case, the piper is Uncle Sam. So, even though you’ve seemingly already paid your fair share, your taxes aren’t going to necessarily be any lower in retirement. And, this also applies to annuity owners.Annuity Taxation 101Annuities are taxed by the IRS based. And, the tax is almost entirely calculated on how they were … [Read more...] about Understanding Annuities and Taxes: Mistakes People Make