Whether you’re 27 and starting a career or 57 and planning for retirement, you may wonder, “Do I need to hire a financial planner?” Will paying an adviser’s fee result in substantially better financial decisions and fewer costly mistakes? If you’re a diligent saver and competent investor, you may figure there’s little reason to purchase an adviser’s services. If you don’t know … [Read more...] about Do you really need a financial adviser? Take this six-question test to find out.
Roth IRA
Dogecoin meme crypto Shiba Inu scores modest fillip from Elon Musk Twitter mention
MARKETWATCH FRONT PAGE Meme coin Shiba Inu was seeing its prices buoyed, at least briefly, after a mention by Tesla Inc. CEO Elon Musk. See full story.I bought a store for $80K. It quadrupled in value. My friend gave $7K for the purchase and $6.7K for repairs. Does he get back 4 times both investments? ‘I believe he should get back $28,000 on his original capital investment … [Read more...] about Dogecoin meme crypto Shiba Inu scores modest fillip from Elon Musk Twitter mention
Should I roll my Roth 401(k) into a Roth IRA?
Q.: I’m thinking of retiring and rolling my Roth 401(k) to a Roth IRA. A co-worker says if I roll it to a Roth IRA, I can’t touch it for five years without penalty. I thought penalties ended at 59½. I’m 68. Can you clear this up for me? Sam in Dallas A.: Sam, I’ll try. My suspicion is your coworker is mixing bits of different rules together. First, the penalty … [Read more...] about Should I roll my Roth 401(k) into a Roth IRA?
Maine governor signs auto-IRA bill into law
Maine Gov. Janet Mills signed into law legislation that creates an automatic IRA for workers whose employees don't offer retirement plans. The governor acted Thursday, one week after the state's House of Representatives and Senate approved the measure with strong support. Starting April 1, 2023, employers with 25 or more eligible employees must offer the program in which … [Read more...] about Maine governor signs auto-IRA bill into law
Consumer prices surge again as PCE inflation gauge hits highest annual rate since 2008
MARKETWATCH FRONT PAGE A key measure of U.S. inflation rose sharply again in May and showed prices rising at the fastest annual pace since 2008, signaling consumers can expect to pay more for goods and services over the summer as the economy recovers from the pandemic. See full story.How Peter Thiel turned $2,000 in a Roth IRA into $5,000,000,000 Roth individual retirement … [Read more...] about Consumer prices surge again as PCE inflation gauge hits highest annual rate since 2008
Warren Buffett’s deputy grew his retirement account from $70,000 to $264 million in 29 years, ProPublica reports
Warren Buffett and Ted Weschler. Yahoo Finance/YouTube Warren Buffett's deputy grew his retirement account from $70,000 to $264 million in 29 years. Ted Weschler cited "careful stock selection, exceptional luck and a multi-decade time period." Weschler paid over $28 million in federal taxes to convert his account into a Roth IRA in 2012. See more stories on Insider's business … [Read more...] about Warren Buffett’s deputy grew his retirement account from $70,000 to $264 million in 29 years, ProPublica reports
The U.S. is the country most vulnerable to a new financial crisis, Nomura warns
MARKETWATCH FRONT PAGE Nomura says a new model correctly signalled two-thirds of the past 53 crises in 40 countries since the early 1990s, and it is currently warning that six economies appear vulnerable to financial crises over the next 12 quarters. See full story.Inflation rises again in May, PCE shows, and hits highest annual rate since 2008 A key measure of U.S. inflation … [Read more...] about The U.S. is the country most vulnerable to a new financial crisis, Nomura warns
How does a rollover affect required minimum distributions?
Q. I have been taking required withdrawals from my IRA since I turned 70½. I’m 74 now. I recently retired and moved all of my 401k funds to an IRA. Will my required RMD increase for this year? The IRA value has doubled with the transfer.— Henry in Indian Harbour BeachA. Henry, the required minimum distribution (RMD) from your IRA for 2021 is not affected by the transfer. The … [Read more...] about How does a rollover affect required minimum distributions?
Review Your Finances Now to Keep on Track in 2021
It’s always a good time to do a financial revIew. You’ll make sure your savings and investments are aligned with your goals and reduce income taxes.Review IRA, 401(k) and other retirement plan contributions.If you didn’t fully fund your retirement plan(s) in 2020, this year you should consider what you can afford to salt away. Contributions to 401(k) plans reduce your taxable … [Read more...] about Review Your Finances Now to Keep on Track in 2021
How Peter Thiel Turned $2,000 in a Roth IRA Into $5,000,000,000
Text size Peter Thiel. Stephanie Keith/Getty Images … [Read more...] about How Peter Thiel Turned $2,000 in a Roth IRA Into $5,000,000,000