Roth IRA

The Pine Tree State is poised to become the latest state to offer a state-run retirement plan to provide coverage to those whose employers do not offer a plan.  The Maine House of Representatives and Senate both passed LD 1622, An Act To Promote Individual Retirement Savings through a Public-Private Partnership, on June 17. The Senate did so unanimously. It was introduced … [Read more...] about Maine Poised to Offer State-Run Plan

Dear Dave: 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 … [Read more...] about Make your education, not retirement, the priority for now

Saving for retirement independently is essential. Without savings, you might really struggle to pay your bills as a senior if Social Security is your only income source -- especially since the average recipient today only collects around $18,500 a year, and that's not a lot of money to live on. But where should you house the money you save? There are different retirement plans … [Read more...] about Is a Roth IRA Right for You? Ask Yourself These 2 Questions to Find Out

Kennerly, John F. and Kennerly, Heather Y. to Kennerly, John F. Jr. and Kennerly, Heather L., Lot 173, Belle Meade Sub, $0.Tidwell, Georganna to Davis, Taylor H., Parcel County, $97,000.Roque, Roger to Roque, Roger and Geronimo, Serrano Hodalis and Serrano, Hodalis Geronimo, Lot 5, Ph. I, Pebble Creek Sub.Duncan, Randolph to Duncan, Randolph and Duncan, Karen M., Lot 231, … [Read more...] about Property Transfers June 19 | Property Transfers

Maine's House of Representatives and Senate approved legislation that would create an automatic IRA for workers whose employers don't offer retirement plans. The bill, approved June 17 by the House and Senate with overwhelming support, now goes to Gov. Janet Mills. Although the bill requires employers to offer the auto IRA, they aren't considered fiduciaries and aren't required … [Read more...] about Maine passes bill to create auto-IRA program

If you’re a dad, you may be in line to get some nice gifts on Father’s Day. But your greatest gift may be your ability to help your children. One way of doing that is to get them started in the world of investing – and making a few investments on their behalf.Here are three possibilities:529 plan – If you invest in a 529 education savings plan, your earnings can grow federally … [Read more...] about FINANCIAL FOCUS: A dad’s greatest gift

In this brand new segment, the Brew’s personal finance writer Ryan Lasker is nose-diving into our inbox to address your personal finance questions. Submit your money woes here.I have recently been hired for my first full-time position. The company is offering a 401(k) plan, but I also have a separate Roth IRA. Which one should I prioritize maxing out first?—Calla from … [Read more...] about Retirement Saving Comes in Two Flavors

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 Law school student encouraged to pay for education now

Many Americans don’t save enough for retirement, but it’s entirely possible to save too much — at least according to the IRS.Tax laws limit how much you’re allowed to contribute to retirement accounts, and excess contributions can be penalized. Uncle Sam doesn’t want you to leave the money in the account too long, either. Those who fail to take enough out of their retirement … [Read more...] about What to do If you save too much for retirement