Even those who have saved millions must prepare for a lifestyle adjustment. A successful retirement is not merely measured in financial terms. Even those who retire with small fortunes can face boredom or depression and the fear of drawing down their savings...
“Roth conversion” is a phrase often thrown around, but seldom explained. Simply put, a Roth conversion allows an investor to convert a “pre-tax” retirement account (a Traditional IRA) into a “post-tax” retirement account, better known as a ROTH IRA....
Is 62 your lucky number? If you’re eligible, that’s the earliest age you can start receiving Social Security retirement benefits. Although collecting early retirement benefits makes sense for some people, there’s a major drawback to consider: If you...
Is it time to contribute more? Preparing for retirement just got a little more financial wiggle room. This week, the Internal Revenue Service (IRS) announced new contribution limits for 2022. New limits Staying put for 2022 are traditional Individual Retirement...
If you are wondering what in the world a “backdoor Roth IRA” is, you’re not alone! In short, if you’ve been frustrated by the contribution limits associated with Roth IRAs, then read on – this article describes a strategy that designed to help. We...
Remember, early planning puts time on your side Whether retirement is around the corner or decades away, there are more options than ever to help you plan for it. Let’s look at Individual Retirement Accounts (IRAs) and 401(k) plans, which offer tax benefits that can...
