I recently received an email from my company’s 401k plan manager asking me the question: “have you got enough cushion?” In other words, they were asking, based on the amount of money I’m contributing to retirement today, if it will be enough? Further into the note, their suggestion was to save as much as I […]
Over the past week we’ve been writing quite a bit about retirement accounts, which ones are better for different situations, and talking about what the Roth IRA contribution limits are. Now I want to talk about another hot topic in retirement accounts, the 2010 Roth IRA conversion. In case you haven’t heard all the buzz, […]
Traditional and Roth IRA accounts are subject to contribution limits, which change from year to year. In addition the contribution limits phase out for certain higher income earners. Find details here.
The Roth IRA (and its cousin, the Roth 401k) are getting press lately and with good reason. There is a fear that taxes will need to rise over time and we will all find ourselves retiring in a higher tax bracket than we are in today. Let’s first take a step back to understand what […]
Assuming you are investing for future retirement, you should seriously consider the Roth IRA (Individual Retirement Account). I am already a huge fan of the Roth, but as the national debt increases with each federal bailout, the Roth is looking better all of the time. Let me explain why. Save Taxes on Down The Road […]
So many of us are on a journey of getting out of debt, investing and saving so that some day we can get to the point where we have wealth. The question is, why do we want to build that wealth? Are we building wealth just for wealth’s sake, or do we have goals […]
There is conventional wisdom that you should save and invest 15% for retirement. Where does that come from and will investing that much be enough for you?
The languor of idleness is worse than the worst weariness of toil – Hugh Black I was thinking recently about how so many people have recently had to re-think their retirement plans as their nest eggs have been depleted or vanished altogether due to our economic meltdown. People who were thinking that they would be […]