Roth IRA

Get Morningstar's essential reading for financial professionals in Advisor Digest. IRS Publication 590-B, "Distributions from Individual Retirement Arrangements (IRAs),"  explains the minimum distribution rules to IRA owners and beneficiaries. The new edition (to be used "in preparing 2020 returns") contains tantalizing previews of what we can expect when the U.S. Treasury … [Read more...] about A Sneak Preview of Secure Act Regulations

What is an individual retirement account (IRA)?An IRA is a tax-advantaged investment account that you can use to save for retirement. Technically, IRA stands for Individual Retirement Arrangement, but the ‘A’ in the acronym is colloquially referred to as an account.IRAs are particularly valuable tools for the 33 percent of private industry workers in the U.S. who do not have … [Read more...] about What Is An IRA? How IRAs Work

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 … [Read more...] about What to do if you save too much for retirement

First and foremost, investing in Bitcoin in an IRA or anywhere else only makes sense if you've carefully assessed your risk tolerance and decided you can stomach huge swings. You can assess your risk tolerance using this calculator. Bitcoin is only appropriate if your risk profile is very aggressive.Also make sure you consider the hefty fees of investing in a Bitcoin IRA … [Read more...] about Should You Invest in a Bitcoin IRA? | Personal Finance

If you've decided that the risks of Bitcoin (CRYPTO:BTC) are worth the rewards, you might be worried about getting hit with a big tax bill. When you trade Bitcoin, you're subject to capital gains taxes, which could be substantial given the cryptocurrency's wild ups and downs. One work-around is to invest in a Bitcoin IRA, or individual retirement account. As with any IRA, … [Read more...] about Should You Invest in a Bitcoin IRA?

What You Need to Know Conditions are currently ripe for Roth conversions. Clients should fund the tax liability with non-IRA funds. Remember that a client's tax bracket could be much lower during retirement. While establishing a tax-free source of retirement income is generally a smart play for any client, there are some clients who will benefit more dramatically from a … [Read more...] about Roth IRA Conversions: When Is the Best Time?

Saving for retirement is a major goal of mine. I know very well that the Social Security benefit I'm likely to collect won't be enough to provide for the retirement I want. And while I don't have extremely lofty goals -- I'm not planning to buy a yacht, though an RV is on my list -- I do want to land in a position where I can enjoy my senior years to the fullest. It's for this … [Read more...] about 2 Reasons I Don’t Have a Roth IRA

My column on the basics of required minimum distributions generated a lot of additional questions. Here are a few of the most common I received. If I have more than one retirement account, do I have to take the RMD from each account or can I mix and match? The required minimum distribution on all types of accounts subject to RMD is calculated separately for each … [Read more...] about I have questions about my RMDs

Opening an account to save for retirement can be one of the most beneficial financial decisions a person ever makes. If you qualify for a Roth IRA -- the kind that offers tax-free compounding and withdrawals at retirement -- it's one of the easiest ways to build wealth you can find.  Many say the best stocks to buy in these accounts are the ones that could skyrocket higher or … [Read more...] about The 1 Stock You’ve Been Overlooking for Your Roth IRA

© Eva-Katalin/Getty Images Young adult looking at charts on laptop What is an individual retirement account (IRA)?An IRA is a tax-advantaged investment account that you can use to save for retirement. Technically, IRA stands for Individual Retirement Arrangement, but the 'A' in the acronym is colloquially referred to as an account. Load Error IRAs are … [Read more...] about What is an IRA? How IRAs work, types of IRAs and more