Roth IRA

By now, you know that President Biden has signed into law the American Rescue Plan Act of 2021, a $1.9 trillion package to provide additional relief from the economic and health effects of the COVID-19 pandemic. While several provisions of this legislation may affect you, the one that’s most imminent is the direct payment. What can this money mean to you? Edward … [Read more...] about Edward Jones: How should you use your stimulus check?

Is it more advantageous for you to contribute to a traditional IRA or a Roth IRA? The IRS recently extended the tax filing due date for 2020 to May 17, 2021. This may give investors additional time to make an IRA contribution for tax year 2020 (although the IRS website, at least for now, still lists April 15, 2021 as the IRA contribution deadline). Most people have the option … [Read more...] about Which is Better for You: A Traditional IRA or Roth IRA?

Dear Liz: My wife and I are both 66 and have not yet filed for Social Security. I don’t plan on filing until I am 70. Is my wife able to file for her own retirement benefit now, which is much lower than mine? And then when I file at 70 years, can she switch to the spousal benefit rate, without any type of penalty?Answer: Yes and yes. This is one of the few instances in which … [Read more...] about Liz Weston: Spousal benefit can be switched to larger amount when husband retires at 70

How to Earn an Extra Stream of Income in Your Roth IRA  STLtoday.com … [Read more...] about How to Earn an Extra Stream of Income in Your Roth IRA – STLtoday.com

For decades, you (hopefully) set aside money for retirement, invested it and watched it grow while dreaming of the day when you could bid farewell to the working world and eagerly greet a more leisurely existence.Accumulating money for retirement is one thing; getting the most out of that money is another. You want to be sure you can maximize the wealth you have amassed so that … [Read more...] about 3 Maximizers to Help You Make the Most of Your Wealth in Retirement

By Jim Braun With tax time upon us, one message we keep hearing is that you should file as early as possible. You may recall that last year there were numerous delays in getting tax refunds after the pandemic caught everyone, including the IRS, off guard. If you have a refund coming, the sooner you file, the sooner that refund will make its way into your … [Read more...] about Braun: Tax filing time a good time to look ahead

For the third time, eligible Americans are receiving a stimulus check as part of the government's efforts to strengthen the economy and alleviate financial burdens that many have endured throughout the COVID-19 pandemic. The latest payment of $1,400 is going to those who made $75,000 or less in 2019. With the market frequently reaching new highs, it can be tempting to try your … [Read more...] about Should You Invest Your $1,400 Stimulus Check?

I believe it’s important for people to think about how their retirement planning is affected by taxes — both now and by potential increases in the future.The Tax Cuts and Jobs Act, signed into law in December 2017, made changes to income and estate taxes. The cuts are set to expire at the end of 2025. So now may be a prudent time to look at your overall retirement plan and … [Read more...] about Good Planning Can Reduce the Chances of Taxes Hurting Your Retirement Funds

HAVERTOWN, Pennsylvania (WPVI) -- More Americans received their stimulus payments from the American Rescue Plan this week.Those who qualify for the $1,400 payments are free to spend the money on whatever they want.One Havertown, Delaware County couple did the unexpected with their stimulus checks."Our feeling was that this money should really go to help address the crying needs … [Read more...] about Havertown, Pa. couple donates $1,400 stimulus checks to local charities

Dear Liz: I recently sold my home and want to put away funds for my daughters. I want to place $130,000 each in an account that will earn 7% to 10% interest for 30 years or so, providing them with a comfortable retirement fund. I’m thinking of having them start with a low-cost index mutual fund. What are the drawbacks to placing all of the funds in one mutual fund account?What … [Read more...] about Where to find the most bang for your savings buck. Wall Street