IRA

Guide

7 Taxes Retirees Must Consider

Tax Changes Related to Retirement

Retirement has finally arrived. You're ready to start drawing on your retirement income sources. Enjoy this new phase of your life. Unfor...

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Pensions 401(k) Social Security Tax Returns

Guide

Cryptocurrency And Retirement

New Study Shows Interest in These Volatile New Investments

How's your 401(k) or IRA doing? A typical 401(k) plan returns from 5% to 8% based on a portfolio of 60% stocks and 40% bonds and other conse...

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Retirement Investing & Retiring IRA Other Investments

Q&A

Asked by victor piediscalzo

I am 51 years old and have nothing for retirement. I put 100.00 a week in my savings and have about $10k now. What can i do for more interest?

Answered by Tracy Scott Burke
CFP®, ChFC® in Harrisburg, PA

Victor, Thanks for your question. Some type of a tax-deferred retirement account would likely be best in your situation in lieu of bank savings. If you have acces...

401(k) Bonds Retirement Investing & Retiring Taxes Mutual Funds IRA Stocks

Q&A

Asked by Kathleen

I have a 401K through my job, do I need an IRA as well?

Answered by Kim Miller PRO+
CFP® in Redmond, WA

The simple answer is yes, you do. You need to take maximum advantage of all of your retirement savings opportunities: 401(k) (pre- and post-tax) and IRAs (preferably ...

401(k) Financial Planning Investing & Retiring IRA

Guide

Fill Your IRA With Low-Cost Index Funds

Save On Fees While Building Your Retirement Nest Egg

Does your IRA or 401(k) contain mostly actively managed funds or index funds? Do you know the difference between those two funds? Do you eve...

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Retirement Investing & Retiring Mutual Funds IRA

Guide

Avoid Required Minimum Distribution Mistakes

Don't Waste Money in Your Retirement Accounts

How many times in life do you have to worry about removing too little money from a financial account? Before retirement, there are few such ...

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401(k) Retirement Investing & Retiring IRA

Q&A

Asked by Katie

IRA or Roth IRA?

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Answers 2

Answered by Michael Hoffman PRO+
RFC, CLU, ChFC in Grass Valley, CA

Katie, Conversion from a traditional IRA to a Roth IRA is beneficial when the amount you are converting allows you to stay in the same tax bracket and you have time...

Investing & Retiring Taxes IRA

Q&A

Asked by Kathleen

I already have an IRA. Should I look into a Roth IRA as well.

Answered by Dan Crimmins
Financial Adviser in Woodcliff Lake, NJ

Kathleen - It is great that you are saving for your retirement. The difference between a Roth IRA and a traditional IRA is when the tax is due. When you contributed...

Retirement Investing & Retiring Taxes IRA

Q&A

Asked by John

I have a few 401(k)'s from previous companies that I worked for, should I combine them into an IRA?

Upvote 24
Answers 8

Answered by Winnie Sun PRO+
Financial Adviser in Irvine, CA

I like rolling old 401(k)'s into one IRA, because it's easier to manage and keep track of. There are other reasons you may, may not want to do this, and it's best to b...

401(k) Investing & Retiring IRA

Q&A

Asked by Michael

Both my wife and I are receiving Social Security and dividends. I receive a pension. Can we take a deductible IRA contribution?

Answered by Linda A. Stortz
CPA, EA in Largo, FL

You must be asking if you can "make" an IRA contribution, rather than "take" an IRA contribution. No, either one of you must have earned compensation from wages, salar...

Pensions Social Security Retirement Investing & Retiring IRA