Roth Withdrawals – I’m ready to get that tax free money….

You took great advice from a friend years ago to open and start contributing to a Roth IRA. Over time you have employed other strategies like Roth Conversions and Backdoor Roth IRAs to boost your Roth IRA balances. Now it’s time to start drawing from those dollars. In a previous blog post, Roth IRA Owners Beware of the 5-Year Rule we touched on the 5-year Rule that must be adhered to in order to ensure that your distributions from your earnings are TAX FREE when you take them. Because after all, isn’t that the greatest benefit of owning a Roth IRA?

IRAsGuest UserSeptember 29, 2022Roth IRA Series, Jenn King

Asset Location and Roths

You’ve probably heard so much about “Asset Allocation” that you may have thought I left out “A” in the title by mistake. “Asset Location” is not talked about nearly as often but has the potential to impact the bottom-line of investment account performance. The premise behind this strategy is rather simple; some investments are more tax efficient than others.

IRAsGuest UserSeptember 23, 2022Michael Mikonis, Roth IRA Series

Roth IRA Owners Beware of the 5-Year Rule

As you prepare for retirement, a Roth IRA can be a wonderful way to build and grow your nest egg. The tax-free benefits previously discussed in our article, Why Choose a Roth IRA, are a major reason why investors gravitate towards owning a Roth IRA. However, the IRS is not in the habit of letting money just come and go willy-nilly, especially when it comes to tax-favored investment vehicles. Therefore, the Roth IRA has strict rules around contributions and withdrawals. This article focuses on one element of the withdrawal rules – the Roth IRA 5-year rule.

IRAsGuest UserSeptember 8, 2022Scott Snider, Roth IRA Series

Mega Backdoor Roths – What makes them so MEGA?

This must be an important topic because why else would the word MEGA be in the title? There’s Megatron - leader of the Decepticons, Mega Man of the video game series and state lotteries title their big jackpots as Mega Millions. So, this must be a BIG DEAL, right?

Well, it is and so much so that you’ll see political parties trying to ax this strategy every so often. But until that happens, it’s important to know what this is, how it works and when you would want to use this strategy.

IRAsGuest UserAugust 25, 2022Jenn King, Roth IRA Series

Roth Conversions – When It Makes Sense and When It Does Not

On the surface, converting your traditional IRA to an investment vehicle that offers tax-free benefits like a Roth IRA sounds like a great idea. Why is that? It boils down to one thing – the words TAX-FREE. Americans love the word FREE, especially when it is associated with taxes. You might be a Russian communist if (in my Jeff Foxworthy voice) … You enjoy giving the government all your money.

IRAsGuest UserJuly 21, 2022Roth IRA Series, Scott Snider

Why Choose a Roth IRA

You’ve been told that it is important to save for your retirement, so with your first job you started contributing to your 401k at work. This was a great option as your company had matching dollars for the dollars you contributed AND it helped to lower your income for income tax purposes. You’ve done a great job saving and are looking for other options to save for retirement. Where to save those additional dollars now?

IRAsGuest UserJuly 14, 2022Roth IRA Series, Jenn King

Stock Market Correction – Should We Be Worried?

The important step here is to determine what really matters and what does not – we will refer to irrelevant things as “noise” going forward.

401K, Investing, IRAsMichael MikonisFebruary 14, 2018investing, stock market, market crash vs correction

It's Never Too Early to Save for Retirement

Have you worked and saved your whole life with the goal of retiring one day? Have you thought about if you have saved enough money to live on for 30 years during retirement?