IRA vs 401k

Retirement Options

Roth IRA

Opinion: I want to open an IRA — should I choose a traditional IRA or a Roth?

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Q: I am 34. My wife is 33. We finally have some extra money for savings and want to put money in an IRA. I understand we can make contributions for 2020 in 2021. Is that right and which is better a Roth or regular IRA? — Sam A.: Sam, You have until the tax filing deadline to make IRA contributions for tax year 2020. At your ages, you can each contribute up to … [Read more...] about Opinion: I want to open an IRA — should I choose a traditional IRA or a Roth?

ACP Members Provide Tips for Taxpayers to Get the Most Out of Their Returns in 2021

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WILMINGTON, N.C., March 25, 2021 /PRNewswire/ -- With the new tax deadline of May 17 looming for much of America (and June 15 for states impacted by the February storm), seven certified members of the Alliance of Comprehensive Planners (ACP), have provided an array of tax tips to help the general public and those who are still in the midst of or soon to be preparing their 2020 … [Read more...] about ACP Members Provide Tips for Taxpayers to Get the Most Out of Their Returns in 2021

5 Things You Need To Know About The Rise Of State-IRA Programs – InsuranceNewsNet

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By Amie Agamata As advisors, we’re often speaking with our clients about the importance of saving for retirement. We change clients’ lives through financial planning and helping them understand why putting money aside for their future is critical. However, many Americans tend to have a difficult time saving a proper amount for retirement. The Federal Reserve reported that … [Read more...] about 5 Things You Need To Know About The Rise Of State-IRA Programs – InsuranceNewsNet

Help protect your family’s inheritance

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You might contribute to your IRA for decades to help pay for your retirement. But if you don’t need all the money, you may want to leave what’s left to your children or grandchildren. However, if you want to ensure they get the most from this inheritance, you’ll need to do some planning. Here’s a little background: Up until a couple of years ago, when you left the proceeds of … [Read more...] about Help protect your family’s inheritance

American IRA Discusses Understanding the Quirks of the Self-Directed Roth IRA

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ASHEVILLE, NC / ACCESSWIRE / March 25, 2021 / What are the quirks of a Self-Directed Roth IRA? According to a recent post at American IRA, a Self-Directed IRA administration firm based in Asheville, NC, those quirks include the fact that there are no Required Minimum Distributions with a Roth IRA, unlike many other retirement accounts, and that the contribution limits are … [Read more...] about American IRA Discusses Understanding the Quirks of the Self-Directed Roth IRA

Should I switch my annuity to a Roth IRA?

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Q. I’m 67 and I have a small annuity. Is it worth switching it to a Roth IRA at this stage? I still add to the annuity.— InvestorA. There are several issues that come into play here.You didn’t say whether this is your only savings or what other kinds of retirement accounts and income you have. For that reason, you should consider meeting with a fee-only financial planner who … [Read more...] about Should I switch my annuity to a Roth IRA?

Checking In on the Market’s Latest Happenings and Some Retirement Tips

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In this episode of Motley Fool Money, host Chris Hill and Motley Fool analysts Ron Gross and Jason Moser discuss the latest news in the market: FedEx (NYSE:FDX) rises on a strong holiday quarter. Nike (NYSE: NKE) stumbles on earnings. Williams-Sonoma (NYSE:WSM) surges on strong stay-at-home sales. Laser technology company Coherent (NASDAQ:COHR) rises on competing buyout offers. … [Read more...] about Checking In on the Market’s Latest Happenings and Some Retirement Tips