Roth IRA

CPA Daniel Geltrude breaks down what you need to know to navigate the tricky tax season and prepare for tax increases in 2022. When it comes to choosing a retirement savings plan, you have options. You can put your money into a traditional IRA and score an upfront tax break in the process, or you can forgo that immediate tax break but enjoy other perks with a Roth IRA. Roth … [Read more...] about This lesser-known Roth IRA benefit could leave you richer in retirement

There are many changes in store for retirees in 2021. Under the Biden administration, we might see an increase in individual tax rates and other key tax policy changes that could have a direct impact on your retirement portfolio in years to come. We are also expecting to see increased stimulus measures as we continue to combat the COVID-19 pandemic.With these changes on the … [Read more...] about 3 withdrawal strategies to maximize your retirement plan in 2021

If your child earned income in 2020, there's a special offer that you can take advantage of before the tax deadline. It's called the Roth IRA (individual retirement account) and it could be key to helping your child become a millionaire before retirement.  Here's a breakdown of how the Roth IRA works and how you can put your child on the fast track to retirement success by … [Read more...] about Don’t Miss Out on Funding Your Child’s Roth IRA for 2020

If you didn't have a chance to maximize your Roth IRA (individual retirement account) contributions last year, don't beat yourself up. There's still time to crush your retirement savings goals. The IRS pushed back the filing due date for individuals submitting a 2020 tax return, giving you a few more weeks to make Roth IRA contributions for 2020.  Here are some insights to help … [Read more...] about Beat the Tax Deadline with a Contribution to Your Roth IRA

Editorial IndependenceWe want to help you make more informed decisions. Some links on this page — clearly marked — may take you to a partner website and may result in us earning a referral commission. For more information, see How We Make Money.“Should I open a Roth or Traditional IRA?” Like most money experts, I get asked this question a lot. And it makes sense. Choosing an … [Read more...] about Roth vs. Traditional IRA: Which Should You Choose?

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The Roth IRA has often been called the holy grail of retirement accounts, and there are good reasons why. It's a magic bullet for savers who want to use money they've already paid taxes on to invest in assets that can supercharge their portfolio growth.  Although the Roth IRA is often touted for the unique combination of benefits it offers to retirement savers, some of its … [Read more...] about 4 Incredible Benefits of a Roth IRA

As the tax-filing season draws to a close Monday after a year that was upended by the pandemic, financial pros suggest investors take stock of their financial position and do a little spring cleaning. While portfolio and financial management is a year-round endeavor, with a variety of deadlines and periodic reviews to conduct such as beneficiary designations, the next few weeks … [Read more...] about As Tax Season Ends, Take Time to Tidy Your Finances. Here Are 4 Considerations.

Photo by Michail Petrov / Shutterstock.com The best Roth IRAs let workers save after-tax dollars for retirement without paying exorbitant fees. However, it can be hard to choose a provider when so many companies offer Roth IRA accounts with competing deals. To help you meet your retirement goals, we’ve compared the top Roth IRAs available today based on factors such as … [Read more...] about The 8 Best Roth IRA Accounts of 2021

Time is running out if you haven't filed your 2020 federal tax return yet. While this year's "Tax Day" was pushed back from April 15 to May 17 to give people more time to file a Form 1040, the day of reckoning is almost here. But filing your federal tax return isn't the only thing you should be thinking about on May 17 – it's an important date on this year's tax calendar for … [Read more...] about 9 Tax Deadlines for May 17 (It’s Not Just the Due Date for Your Tax Return)