It is advisable to consult with a financial advisor or a tax professional prior to making this type of financial change. How ...

Let’s go back to the tax-bracket model that we used above. Since you’re still working and earning $80,000, you might choose ...

The author and editors take ultimate responsibility for the content. A Roth IRA conversion is a strategy people use to change their tax-deferred retirement savings, like traditional IRA and 401(k ...

A 62-year-old with $1.5 million in a traditional IRA may be wise to consider converting $150,000 per year to a Roth IRA to avoid required minimum distributions (RMDs). The annual withdrawals from ...

You might think the choice between a Roth and a traditional individual retirement account comes down to taxes. While taxes play a role in this decision, investors shouldn't overlook other ...

If you’re going to save for retirement, you might as well enjoy a host of tax benefits along the way. That’s why savers are ...

Roth IRA contributions can be withdrawn anytime without ... Rules regarding these exceptions can change with time. For example, in 2020, withdrawals for medical expenses that exceeded 10% of ...

The Roth 401(k) is a powerful retirement savings tool offered by employers, combining the benefits of a Roth IRA and a ...

Remember that contribution limits can change annually, so stay informed. Tax season is an excellent time to review your Roth IRA strategy. For me, this means making contributions as early in the ...

Having financial flexibility in retirement — especially in being able to maximize your spending while minimizing your taxes — is an optimal situation. And it’s one you can arrange by keeping ...