Oh what a great year for debate on Roth IRA’s and Roth IRA Conversions! Roth IRAs are a great tool for building up retirement savings, but some things have changed for conversions. 2010 has ushered in some new Roth IRA rules -here’s what you need to know about the 2010 Roth conversions. I recently received […]
Open A SEP IRA: Rules And Contribution Limits
If you’re a self employed person or are looking at taking the plunge and becoming an entrepreneur, one thing you have to consider is how you will save for retirement. Since you won’t have the option of a 401k, there are several other retirement account type options that you will want to think about using. […]
How Much To Save For Retirement
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 […]
2010 Roth IRA Conversion Rules
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 Contribution Limits And Phase Outs
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.
What Is A Roth IRA And What Are The Benefits?
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 […]
Economic Crisis Means Great Time To Buy a Roth IRA
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 […]
Conventional Wisdom: Invest 15% Of Yearly Income Once You Are Out Of Debt
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?
Do You Ever Plan To Fully Retire?
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 […]
What Does The Bible Say About Retirement?
“Thwack!” A long and straight drive lifts from the tee box, soaring upward and eventually landing in the right-middle of the fairway. A great shot is met by approving looks from the two women in the foursome and a high-five from his playing buddy. Have you seen that commercial? Ahhh, this must be what retirement […]