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Congress's New Tax-Free Savings Proposal: Better Than a High-Yield Savings Account?
A new way for Americans to save—with tax-free earnings—has been introduced in the House and Senate. If it passes, will it ...
Should You Max Out Your 401(k) or IRA First?
Learn how to decide whether to max out your 401(k) or IRA first based on your income, tax bracket, and retirement goals.
This retiree figured out a way to pay almost no taxes. Here's his secret.
What this means functionally is that his first step of the process is to account for his yearly required minimum distribution, which he does in the form of a charitable donation. That allows him to ...
I told my bank to fund a backdoor IRA, but my adviser left the money in the wrong account. Should I sue?
Dear Quentin, For the past seven years I have used my bank’s private-investment For the past seven years I have used my ...
Do IRAs actually help more people save for retirement?
The bottom line is that with the exception of the state Auto-IRA programs, IRAs remain primarily a way for those with retirement assets to gain more tax-advantaged saving rather than a mechanism for ...
Tax Strategies Most High-Income Earners Overlook (Until It’s Too Late)
Backdoor Roth IRAs: If you exceed income limits for direct Roth IRA contributions, you can convert after-tax dollars into a ...
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Is It Safe to Retire at 62 With $2.5 Million in a Roth IRA and $2,500 a Month in Social Security?
Retiring at age 62 and filing for Social Security will reduce a person’s lifetime benefits by up to 30% compared to waiting ...