Roth IRA

SEP, or Simplified Employee Pension, plans are the simplest; they have the smallest amount of paperwork and reporting requirements. (123rf.com) … [Read more...] about What to do if you save too much for retirement | Local Business

(Photo: Shutterstock) Recently, we’ve been seeing more new products relating to diversity, equity, and inclusion (DEI) initiatives. We’ve also noticed more financial wellness products coming to market. Here are a few product news items that have crossed our inbox. Xiggit unveiled its solution to deliver employee benefits down market. It handles benefits administration tasks, … [Read more...] about Benefits product roundup: Coterie Advisors, DailyPay, Guardian Life, The Public Health Company

Today:  Northwest Indiana political activist Ruth Needleman is on "Regionally Speaking" with her regular conversation on the issues that, this time, include deportations from the Gary airport, the continued fight against COVID-19 and a July 4th parade coming up in Hobart.  Financial advisor Greg Hammer wonders in his conversation whether 2021 should be called the "Year of Roth … [Read more...] about Regionally Speaking, Monday, June 21, 2021

Retiring a millionaire isn't as farfetched as it may seem. With a bit of saving, investing, and a proper plan, you can be well on your way to hitting $1 million -- or more -- by the time you reach retirement age.In fact, the number of retirement millionaires have reached record levels, according to data from Fidelity Investments, the nation's largest provider of 401(k) savings … [Read more...] about How to retire a millionaire |

In fact, the number of retirement millionaires have reached record levels, according to data from Fidelity Investments, the nation's largest provider of 401(k) savings plans. Retirement savers with a 401(k) balance of $1 million or more increased to 365,000 during the first quarter of 2021, while the number of those with an IRA with a balance of $1 million or more jumped up to … [Read more...] about How to retire a millionaire

Q. I am 74 years old and wanted to convert a portion of my traditional IRA to a Roth but my adviser keeps telling me that I need to have earned income in order to do that. Is that correct? I am retired and my only source of income is from a pension, Social Security and investment income. I’m looking to convert about $200,000 because I think it would be better for the kids and … [Read more...] about Can I convert some of my traditional IRA to a Roth?

I’m 19, and I’m about to finish up my first year of community college. I have enough money through scholarships and help from my family to get a bachelor’s degree. After that, I plan on going to law school and cash flowing that part of my education. I’ve already started a Roth IRA with money I’ve made working, but I’m wondering if I should continue contributing to retirement … [Read more...] about Put your education first | Features

Although retirement looks different for everyone, there's no doubt that having a Roth IRA (individual retirement account) by your side can make every moment a bit more rewarding.For starters, you can look forward to receiving a pile of cash that you won't have to share with the IRS when you retire. You can also gain access to exclusive benefits that can help you live the life … [Read more...] about Why a Roth IRA is your retirement best friend

Should I do a Roth IRA conversion?That's the question Jeffrey Levine, chief planning officer of Buckingham Wealth Partners, answered in this episode of Ask the Hammer.Got Questions?Email AsktheHammer@BuckinghamGroup.com.More Ask the HammerHow Much Should I Spend on an Engagement Ring?Is It Worth Getting Earthquake Insurance?What Should I Do with My Finances in Advance of … [Read more...] about Ask the Hammer: Should I Do A Roth IRA Conversion?

There are plenty of good reasons to keep your long-term savings in a Roth IRA. But if you're not sure whether that's the right account for you, ask yourself these two questions to find out.1. Do I expect my tax rate to go up in retirement?When you put money into a Roth IRA, you effectively lock in your tax rate on your contributions, because you pay your current tax rate on … [Read more...] about Is a Roth IRA Right for You? Ask Yourself These 2 Questions to Find Out | Personal Finance