- At What Age Do RMDs Stop?
Required minimum distributions (RMDs) are the minimum amount that you must withdraw from certain tax-advantaged retirement accounts. They begin at age 72 or 73, depending on your circumstances and continue indefinitely. There is, unfortunately, no age when RMDs stop. You… read more…
- Roth IRA RMD Rules for 2024 and 2025
You might be familiar with Roth IRAs or you might even have one yourself. But while Roth IRAs can be simple and highly flexible retirement vehicles for the original owners, people who inherit IRAs deal with more limited options. While… read more…
- How to Handle Excess IRA Contributions
Maxing out your individual retirement account (IRA) each year is a smart move when you’re focused on growing your retirement fund. But contributing too much money can result in a tax penalty of 6%. Many taxpayers work with a financial advisor… read more…
- Inheritance Rules for Traditional and Roth IRAs
Inheriting an IRA, whether a traditional or Roth account, comes with certain responsibilities. The rules for an inherited IRA depend on the specifics of your situation, as well as the deceased’s age and other circumstances. Unfortunately, you might have to… read more…
- How to Contribute to a Roth IRA
You can fund a Roth IRA in a variety of ways, including IRA rollovers, bank transfers and even cash deposits. However, there are limits to the amount you can contribute each year to this popular tax-advantaged retirement savings vehicle. And… read more…
- Should You Buy REITs in Your Roth IRA?
Real estate investing is a field that appeals to a lot of investors with diverse portfolios. Real estate investment trusts (REITs) are a great way to invest in real estate without having to own and manage physical property. But they can come… read more…
- Can You Have a Joint Roth IRA?
As with all tax-advantaged retirement accounts, you cannot hold a Roth IRA jointly with someone else. That’s even if they are your spouse. Each individual in a household must own and contribute to their own account, although you can name… read more…
- Can I Transfer My IRA into a Savings Account?
You can transfer your individual retirement account (IRA) to a savings account, but you may have to pay a penalty and income tax. Here’s what you need to know. When you have a big expense to cover, you might ask… read more…
- Deadline Is Looming to Max Out 2022 IRA Contributions
We’re well into the new year, but retirement savers can still make contributions to retirement accounts for tax year 2022. Savers have until April 18 – Tax Day – to contribute to their individual retirement accounts (IRAs), simplified employee pension plans… read more…
- What Is a Roth IRA?
A Roth IRA is an individual retirement account funded with after-tax dollars. You can’t deduct contributions to a Roth IRA at tax time, but you can withdraw your money tax-free in retirement. A Roth IRA is a popular choice for… read more…
- How to Use a Roth IRA as an Emergency Fund
Building an emergency fund is essential so you don’t run into financial trouble if you lose your job or unexpected expense crops up. But keeping your emergency fund in a traditional savings account may not be the best solution. To… read more…
- Types of Individual Retirement Accounts (IRAs)
An individual retirement account (IRA) gives you a tax-advantaged way to save for retirement. Several different types of IRAs accounts exist. Most let savers deduct contributions from their current taxable income and also delay taxing earnings until withdraw money later… read more…
- Roth 403b vs. Roth IRA: Key differences
When Roth IRAs were introduced in 1998, they provided the opportunity to create tax-free income in retirement. A few years later, Roth 401(k) and Roth 403(b) accounts were created to allow company retirement accounts to provide tax-free income. When you’re… read more…
- When Is the Roth Conversion Deadline?
The deadline for converting funds in retirement and other accounts to a Roth IRA is Dec. 31 of the year for which taxes will be owed on the converted funds. Retirement savers may want to convert a different type of… read more…
- Traditional vs. Roth TSP: Key Differences
If you’re a government worker with a Thrift Savings Plan (TSP) from your employer, congratulations! With low management fees to matching contributions, you have one of the best investing tools available. You can prepare well for a comfortable retirement by… read more…
- What Is a Roth Thrift Savings Plan (TSP)?
Government employees enjoy a multitude of benefits, such as special discounts and generous sick leave. These benefits also extend to retirement. Specifically, the Roth Thrift Savings Plan (TSP) offers a tax-advantaged retirement account with matching contributions. Employees of all income… read more…
- How Many Roth Conversions Can You Make Per Year?
A Roth Individual Retirement Account (IRA) can offer tax benefits in the form of tax-free withdrawals in retirement. If you have a traditional IRA or 401(k), you can use a Roth conversion to change the tax status of your retirement… read more…
- Should You Take Advantage of Robinhood’s 1% Match on IRAs and Roth IRAs?
After bursting on the financial scene during the meme-stock hoopla and attracting hordes of investors at the beginning of the pandemic lock-downs, trading platform Robinhood will start offering Individual Retirement Accounts – and offering investors a 1% “match” on their… read more…
- Can You Borrow from an IRA Without Penalties?
The Internal Revenue Service prohibits individual retirement account owners from borrowing against funds in their accounts. Still, a number of exclusions and workarounds can allow at least temporary use of IRA funds before reaching retirement age. The effort calls for… read more…
- TikTok Exposed a Major Mistake You May be Making in Your Roth IRA
TikTok is hit or miss for accurate advice on finance topics. Although the “#finance” hashtag has amassed over 989 million views, there is just as much bad advice as there is good. But one user shared a tip that went… read more…
- Best Providers to Open an IRA in 2025
An individual retirement account (IRA) is a tax-advantaged retirement account that helps people to save for later in life. Traditional IRAs mimic the structure of a 401(k). You contribute pre-tax earnings into the account and only pay taxes on what… read more…
- 5 Backdoor Roth IRA Mistakes to Avoid
Saving for retirement is important for everyone, including those with high incomes — just because you make a lot now doesn’t mean you don’t need to plan for a future when you are no longer working. While generally the adage… read more…
- Converting an IRA to Roth After Age 60
Retirement savers who convert pre-tax retirement accounts such as IRAs to after-tax Roth IRAs after reaching age 60 can keep growing funds tax-free and then make withdrawals in retirement without paying taxes. They avoid early withdrawal penalties and also don’t… read more…
- IRA Investors Put Their Money Into This Low-Cost Asset. Should You?
Investors with individual retirement accounts (IRAs) are selecting low-cost mutual fund options. The Investment Company Institute (ICI) says 45% of individual retirement account assets are held in mutual funds. That adds up roughly to $6.2 trillion. Overall, in 2021, IRA mutual… read more…
- Can You Day Trade in a Roth IRA?
Day trading is a type of active investment. And while you can day trade in your Roth IRA, active investments are relatively uncommon in retirement accounts. Roth IRAs are intended to be stable, long-term portfolios and the IRS tries to… read more…