- Is a Roth IRA a Qualified Retirement Plan?
The Roth IRA stands out among other types of retirement accounts due to its unique tax advantages and withdrawal rules. But is a Roth IRA a qualified retirement plan? While Roth IRAs offer significant benefits and are regulated by the IRS, they do not meet the technical definition of a qualified retirement plan, such as… read more…
- How Getting Married Impacts Your Roth IRA
Getting married does not automatically impact your Roth IRA. Your portfolio and its tax status are unaffected by your marital status. However, in some situations, getting married can make you income-ineligible for Roth contributions. Additionally, getting married can mean making different plans around your Roth IRA. Here’s what you need to know. If you and… read more…
- How to Invest in a Socially Responsible Roth IRA
Environmental, Social and Governance, or “ESG,” investing is getting bigger. According to a 2022 analysis from PricewaterhouseCoopers (PWC), “with a projected compound annual growth rate (CARG) of 12.9%, ESG assets are on pace to constitute 21.5% of total global [assets under management] in less than five years.” And, while one-fifth of all global investments seems improbably… read more…
- What Should I Do with My Roth IRA Once I Retire?
Retirement typically means shifting your focus from diligently saving your money over the course of years and decades to managing those funds and spending them responsibly. To learn about all the options for handling your Roth IRA in retirement, talk to a financial advisor. If you have a Roth IRA, you have several options for… read more…
- I’m 60 With $1.2 Million in a Roth IRA. How Do I Make Sure This Money Lasts the Rest of My Life?
Planning for a Roth IRA is a little different than with most other retirement assets. This tax-advantaged account generates entirely untaxed income, as long as effectively boosting the value of your withdrawals and your Social Security benefits. That changes your options compared to having a pre-tax 401(k) or other non-Roth account. For example, say that… read more…
- How to Make Investments in Your Roth IRA
A Roth IRA is an account, not an investment, so once you’ve put money into the account it still must be invested. Common investment options for Roth IRA accounts include stocks, bonds, mutual funds, exchange-traded funds, money market accounts and certificates of deposit. Some sponsors offer many options, while others only have a few. Self-directed… read more…
- I’m 65, Taking Social Security and Have $830,000 in a 401(k). Is It Too Late to Convert to a Roth IRA?
There is no age limit on Roth conversions, so you can transfer pre-tax savings into a Roth IRA regardless of your age or retirement status. As long as you have qualifying funds in a pre-tax portfolio, you can move them to an after-tax Roth account. A financial advisor can help you make important decision surrounding… read more…
- What Is a Trusteed IRA?
A trusteed IRA is a type of individual retirement account that is set up as a trust. This account can benefit those who want to have the tax advantages of a traditional IRA and the asset management of a trust. Here’s a breakdown of what you need to know. If you need help deciding which… read more…
- What Happens If You Exceed the Roth IRA Income Limit?
The IRS puts annual income limits on a Roth IRA. When you exceed that limit, the IRS generally charges a 6% tax penalty for each year the excess contributions remain in your account. This is triggered at the time you file each year’s taxes, giving you until that deadline to remove or recharacterize the misplaced… read more…
- IRA vs. Roth IRA vs. 401k: Key Differences
Many employers offer 401(k)s and match your contributions. Other workplaces, however, might not offer this retirement plan. And, if you are an independent contractor, you may also be looking for another retirement plan alternative. In these cases, individual retirement accounts (IRAs)… read more…
- Here’s How to Do a Roth Conversion That Minimizes Taxes
One of the costs of converting a traditional IRA to a Roth IRA is how much you will pay in taxes. In some cases, those taxes can be a heavy burden, especially if you have been diligent in building up… read more…
- Roth 401(k) vs. Roth IRA: Key Differences
Roth IRAs and Roth 401(k)s are retirement savings vehicles that can protect your earnings from Uncle Sam when you withdraw your money in retirement. But one may be better for you depending on your needs. We’ll explain the pros and cons of each to help you decide which plan is right for you. If you… read more…
- How to Open an IRA
An individual retirement account, or IRA, is a popular tool that’s used to help build your retirement savings. IRAs are tax-advantaged accounts, and they offer direct access to investments. There are four important steps to follow when opening an IRA.… read more…