The Backdoor Roth Conversion is a popular strategy among retirement savers who are otherwise ineligible to contribute to a Roth IRA due to income limits. This strategy involves making a […]
Retirement
How to Avoid Rollover Mistakes When Moving Your Retirement Savings
A 401k rollover is a way to take your previous employer’s retirement plan (such as a 401k) and transfer it to an individual retirement account (IRA). This can help you […]
401K
Can Your Employer Reverse Last Year’s Payroll and Put the Money Towards Your 401K?
A 401K plan is a retirement savings plan that allows employees to contribute a portion of their income before taxes, and employers to match some or all of the employee’s […]
401K
Are Employer Matches in Trad 401(k) Non-deductible Contributions?
A 401(k) plan is a popular retirement savings option offered by many employers in the U.S. It allows employees to contribute a portion of their pre-tax income to a designated […]
Retirement
Optimizing Taxes for Future Retirement with Roth Conversion
Roth conversion is a strategy that involves converting all or part of your traditional IRA or 401(k) into a Roth IRA. By doing so, you pay regular income taxes on […]
Retirement
How a Backdoor Roth and a 401 (k) to Traditional IRA Rollover Affect Your Taxes
If you are a high-income earner who wants to take advantage of the benefits of a Roth IRA, you may have heard of the backdoor Roth strategy. This is a […]
Retirement
How to Determine the Optimal Amount to Convert to a Roth Account
A Roth account is a type of retirement account that allows you to save money with after-tax dollars and enjoy tax-free withdrawals in the future. There are two main types […]
IRA
Continued tIRA Growth Undermines Roth Conversion Plan
A Roth conversion is a strategy that involves transferring money from a tax-deferred retirement account, such as a traditional IRA (tIRA), to a tax-free Roth IRA. The main benefit of […]
IRA
Can I Borrow from My Roth IRA Without Penalty?
A Roth IRA is a type of retirement account that allows you to save money after paying taxes on it. This means that when you withdraw money from your Roth […]
Retirement
TSP Contributions Roth vs PreTax: What You Need to Know
If you are a federal employee or a member of the military, you have access to one of the best retirement savings plans available: the Thrift Savings Plan (TSP). The […]
401K
All Bond Allocation to 401k: What You Need to Know
A 401k is a retirement savings plan that allows you to contribute a portion of your income to a tax-advantaged account. You can choose how to invest your 401k money […]
529
How to Convert Your 529 Plan to a Roth IRA
A 529 plan is a popular way to save for college expenses, but what if you have leftover funds after your beneficiary graduates or decides not to pursue higher education? […]