Roth IRA

If you’re in the early stages of your career, you’re probably not thinking much about retirement. Nonetheless, it’s never too soon to start preparing for it, as time may be your most valuable asset. So, you may want to consider retirement savings vehicles, one of which is an IRA. Depending on your income, you might have the choice between a traditional IRA and a Roth IRA. Which … [Read more...] about Neal Logan: Is Roth IRA better for young workers? | Local News

Rideshare driver? Grocery deliverer? Reseller? Picking up a side hustle is a great idea if you can make extra money. It's not so great, however, if your side hustle ends up costing you big bucks. Here are a few costly errors to avoid. One email a day could help you save thousands Tips and tricks from the experts delivered straight to your inbox that could help you save … [Read more...] about If You Have a Side Hustle, Watch Out — These Mistakes Could Cost You Thousands

Asian man studying Roth IRAsA mega backdoor Roth is a unique 401(k) rollover strategy that’s designed for people whose incomes would ordinarily keep them from saving in a Roth Individual Retirement Account. The advantage of using a Roth IRA to save for retirement is being able to make tax-free qualified withdrawals. But not everyone can contribute to these accounts; … [Read more...] about How Do Mega Backdoor Roths Work?

By Patrick Kuster, AIFWhen deciding to convert traditional IRA funds to a Roth IRA, we generally start by thinking in terms of taxes. I mean, if it wasn’t for taxes, why would we consider converting in the first place? But we don’t want to convert too much in any given year, as we don’t want to put ourselves in too high of a tax bracket or pay more taxes than we can stomach. … [Read more...] about Converting? Don’t Forget Medicare – Retirement Daily on TheStreet: Finance and Retirement Advice, Analysis, and More

Brokerage accounts can be taxed depending on the type of account.There are three main types of brokerage accounts: traditional retirement accounts, Roth retirement accounts and taxable nonretirement brokerage accounts. Each type of account receives a different tax treatment.Retirement accounts are tax deferred, meaning you pay no taxes on any earnings within the account. … [Read more...] about Are Brokerage Accounts Taxed?

Senate Finance Committee Chair Ron WydenRonald (Ron) Lee WydenSenate votes to end debate on T infrastructure bill GOP senator vows to slow-walk T infrastructure bill, sparking standoff The Senate should support innovation and pass the Lummis-Wyden-Toomey amendment MORE (D-Ore.) and House Ways and Means chair Richard NealRichard Edmund NealOn The Money: Justice Department says … [Read more...] about If plans to cut IRAs succeed, the middle class will be collateral damage

If you’ve got more bills than money, the usual advice is to trim expenses and find additional income. But some ways of raising cash can be a lot more expensive than others. Here are four that should be avoided, if possible, and what to consider instead.BEWARE RAIDING A RETIREMENT PLANA big chunk of the money contributed to retirement plans leaks out as hardship withdrawals, … [Read more...] about 4 cash-raising pitfalls (and better options)

Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions.This week’s episode starts with a discussion about job scams, including how to spot them and how to avoid them.Then we pivot to this week’s question from Stephen, who asks:“I have a question about maxing out my Roth IRA. My wife just finished school and has started working, so now we … [Read more...] about Job Scams and Maxing Out a Roth IRA

Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions.This week’s episode starts with a discussion about job scams, including how to spot them and how to avoid them.Then we pivot to this week’s question from Stephen, who asks:“I have a question about maxing out my Roth IRA. My wife just finished school and has started working, so now we … [Read more...] about Job Scams and Maxing Out a Roth IRA

Insider has identified more than a dozen members of Congress who've broke federal disclosure rules. Republican Reps. August Pfluger and Steve Chabot and Democratic Rep. Cheri Bustos are the latest. STOCK Act violators face a modest fine, at minimum. Members of Congress routinely … [Read more...] about 3 More Members of Congress Have Violated the STOCK Act