On January 1, 2010, for the first time, higher income taxpayers can convert from a traditional to a Roth IRA. Watch this video to understand how the current market provides a low-cost Roth conversion opportunity which may save you taxes in retirement.
Watch this quick video and learn how converting to a Roth IRA today can help you lock in historically low tax rates, which may help save you taxes in retirement. In addition, by converting to a Roth, you may also gain tax diversification by having at least one income stream that is tax-free.
Watch this video and understand how you can potentially increase your tax-free income by grossing up your retirement account value. By converting to a Roth and paying the taxes out of pocket, you have in essence made a large contribution to a retirement account that otherwise may not be allowed.
American workers are retiring earlier and living longer than previous generations. This makes investing for retirement is more important than ever.
No matter your age, income or financial goals, taxes can take a bite out of your long-term savings. That’s why it makes sense to make the most of as many opportunities as you can to set aside money in tax-deferred IRAs and workplace retirement savings plans such as 401(k)s and 403(b)s. Tax benefits and compound growth make small, regular, contributions grow into more than you might think.
At the heart of every retirement plan is your ability to leverage your contributions with tax advantages, and hopefully, employer contributions. Whether you have a 401(k), a 403(b), a SIMPLE IRA or another type of plan it is important to make intelligent decisions about what you control.
In the late 1970s, Congress added a paragraph to the tax code that permitted American companies to establish tax-deferred savings plans for their employees. The benefits of tax-deferred savings coupled with the discipline of payroll deduction, has made saving for retirement easier for millions of American workers. Here are the most important benefits of workplace retirement savings plans.
When you leave your employer you have the option to move your money from your retirement plan to an IRA.
What do you want to happen to your wealth after you’re gone? It’s not a comfortable topic but is important to consider. Your beneficiary designation can have a profound effect on what your heirs can do with your assets.