Roth IRA

To help get through my ever-bulging inbox, I plan to devote a few summer columns to lightning round questions and answers. If you need more in-depth information, send an email to: askjill@jillonmoney.com. Here goes! Jill Schlesinger  Q: We have two grandchildren who will be starting college next year and we would like to get them on the right track with investing. Can we open … [Read more...] about Jill On Money: Lightning Round Q&A

Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn't affect our editors' opinions or evaluations. While the prospect of tax-free retirement income is tempting, Roth individual retirement accounts (IRAs) aren’t without their detractions and can lead to unexpected costs, especially if … [Read more...] about Avoid These Backdoor Roth IRA Pitfalls – Forbes Advisor

FG Trade | E+ | Getty ImagesHaving an emergency fund generally is a good thing.Having too much cash, however, can hold back growing your overall wealth.It's especially important for younger investors to make sure they're putting money into the stock market, as they have the most to gain from a long investment horizon.Yet investors in their 20s may be too conservative — this age … [Read more...] about Holding too much cash isn’t growing your wealth. Do this instead

“Making any of these common mistakes could mean you will have to struggle more when you no longer get a paycheck.” — Lyle BossThe road to a successful, stress-free retirement often has potholes more challenging to navigate than you may believe. There are numerous critical issues to address, complicated money concepts to understand and a bewildering array of products to … [Read more...] about Mistakes that could make retirement challenging | Business

You probably already know the basics of a traditional IRA (you invest pre-tax income — you can currently contribute up to $6,000 in 2021 — and must take required minimum distributions after age 72). You also may already know the details of a Roth IRA (you invest after-tax money — currently up to $6,000 in 2021 — and you don't pay taxes on gains when you withdraw money after age … [Read more...] about Considering a Backdoor Roth IRA? Here’s Why You May Want to Reconsider