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For those unfamiliar with the Backdoor Roth IRA, this strategy entails making nondeductible contributions to an IRA and subsequently converting those assets to a Roth IRA.
As tax season nears, people of all ages have questions about IRAs. They may seem pretty straight-forward on the surface, but how much do you know about them? Let’s refresh your memory of IRA basics and explore some surprising facts.
You've just won $10,000. What now? It may be time to hire a professional to remove the confusion from your financial situation.
Chances are your teen isn’t thinking about saving for her retirement quite yet. But contributing now to a Roth IRA can give her a leg up on her retirement savings. Unsure if your teen will want to contribute any of her hard-earned money? No worries – anyone can contribute to a Roth IRA on her behalf. Read on for the details and what to watch out for.
As part of the tax law changes enacted earlier this year, the rules regarding Roth accounts have also been updated. Be sure you understand the new Roth rules and how they could impact you and your wallet.
Given the choice, would you prefer a tax break now or a tax advantage later? The differences between 401(k) plan options can have substantial effects on your long-term financial goals.