The Backdoor Roth IRA In A Nutshell

If you are wondering what in the world a “backdoor Roth IRA” is, you’re not alone! In short, if you’ve been frustrated by the contribution limits associated with Roth IRAs, then read on – this article describes a strategy that designed to help. We all know that the IRS imposes annual contribution limits for both […]

Getting Married In 2021 Means New Roth Rules

Know the rules so you don’t get hit with an excess contribution penalty  So you’re getting married in 2021? Congratulations. And when you add up all your income (yours and your spouse’s), you’ll earn more than the limit to contribute to a Roth IRA. But since you’re below the income limit now, you want to […]

Is The Roth 401 (K) An Option For You

Taking a closer look at whether it might be appropriate for your situation Since it first became available in 2006, many employers have added the Roth 401(k) to their benefit packages as a retirement savings option. A Roth option is available for Individual Retirement Accounts (IRAs) and 401(k) and 403(b) accounts. To see if a […]

The Charitable IRA Transfer

If you are age 70½ or older and charitably minded, you may wish to consider tapping your individual retirement account (IRA). The qualified charitable distribution (QCD), also known as an IRA charitable rollover, allows you to donate up to $100,000 per year to qualified charities. A QCD can be made tax free, can help minimize […]