Roth IRA

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. Life is complicated enough, so retirement planning shouldn’t have to be. Choosing a target date fund can make planning for retirement a whole lot easier. With just one target date fund, … [Read more...] about How To Choose A Target Date Fund – Forbes Advisor

Peter Cade | Getty ImagesMany people know about their 401(k) perks, but their plan may have a hidden feature that allows for even more savings.When someone maxes out their 401(k) — $19,500 in annual contributions for those under 50 in 2021 — some plans may permit them to stash more money into their account.After-tax 401(k) contributions may let someone actually save up to … [Read more...] about Big savers may boost their retirement stash with this option

Suze Orman in New York City.Courtesy Dominik Bindl | Getty Images Entertainment | Getty ImagesAs small business owners recover from the pandemic, it's important to make sure they get their personal and business finances back on track, said personal finance expert and best-selling author Suze Orman.That includes saving, investing and managing credit card debt."You have got to … [Read more...] about Here’s Suze Orman’s best advice for small business owners

When facing down high levels of debt, the first thing most folks do with their personal finances is look for ways to cut their expenses. But even the most frugal budget in the world requires a certain amount of income. So, like it or not, the best way to pay off debt can often come down to making more money.A few years ago, Dannie Fountain was facing around $165,000 in debt, … [Read more...] about How This Entrepreneur Grew Her Income 10x in 4 Years

Stressed about your retirement prospects? You're not alone. A recent report from the Employee Benefit Research Institute finds that only 15% of individuals who make less than $35,000 a year are very confident they'll have enough money to live comfortably in retirement. One-third of workers in that income bracket are only somewhat confident in their retirement outlook, while 52% … [Read more...] about How to Save for Retirement When You Make Less Than $35,000

While this book is focused on what to do when you inherit an IRA from a spouse, we would be remiss if we ignored the Widow’s Penalty. From a strategic point of view, you will want to understand this IRS concept as it can have a material impact on your finances going forward. Because of its importance, we have gone into somewhat greater depth on this subject. Bill Harris, … [Read more...] about Beyond IRAs: The Widow’s Penalty

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: Father’s Day gifts for your kids

No magic amount exists for the perfect retirement pot of gold; it varies depending on your needs. At some point in your life, however, it is likely that you will not want to or maybe even be able to earn money from a job.  When you hit that age, you’ll thank your younger self for planning for that day. Take a look at how much money you need to retire now.  Define … [Read more...] about How Much Money do You Need to Retire? • Benzinga

Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective.Best bitcoin IRAs of June 2021Interested in adding bitcoin or other cryptocurrencies to your retirement … [Read more...] about Best Bitcoin IRAs of June 2021