Converting now would enable you to spread a possible tax hit over more than one payment while reducing future taxes.

In this piece, we’ll check in on a case of a 20-something-year-old individual who took to the r/MiddleClassFinance subreddit ...

Both a Roth IRA and a 529 Plan are valid ways to save for a college education. Each has unique benefits and limitations.

A Roth IRA can be a great way to save for retirement, as the accounts have no required minimum distributions and you can ...

Both a Roth IRA and a 529 Plan are valid ways to save for a college education. Each has unique benefits and limitations. Starting in 2024, unused funds in a 529 account may be converted into a ...

For tax year 2025, employees can defer $23,500 into their 401(k), a modest increase from the $23,000 contribution limit in 2024. The limit on annual contributions to an IRA, however, remains what ...

Recent market swings due to tariffs have unsettled investors, including IRA owners, though conditions have stabilized ...

The contribution limit applies to all IRAs in a given year. For 2025, if you have both a traditional and a Roth IRA, you must decide how to divide $7,000 between the two.

To contribute to a Roth IRA, you must have “earned income” that equals or exceeds your contribution. There are also income limits, meaning your maximum Roth IRA contribution could be reduced ...

There is no age limit, so basically anyone can open a Roth IRA as long as they have "earned income." (There are income limits for contributing, but this can be circumvented with something called a ...

Roth IRA contributions can be withdrawn anytime without taxes or penalties. Converted Roth IRA funds are tax- and penalty-free after five years from Jan. 1 of the year of the conversion. Roth IRA ...