KEY TAKEAWAYS: Thanks to an upfront tax deduction and tax-free growth, HSA accounts are better than Roth IRAs. Maximizing your annual HSA contribution and delaying reimbursement of your medical expenses…
…on that account will grow tax-free and investors like Sarah could roll the Roth 401(k) portion of the account into a Roth IRA when they retire or when they leave…
…high to fund a Roth IRA directly, you may be eligible to contribute via a backdoor Roth IRA by converting your traditional IRA assets to a Roth IRA. Note: This…
…such as an employer’s retirement plan, IRAs and taxable accounts, Health Savings Accounts, Deferred Compensation and Stock Purchase Programs. The amount of excess savings available and frequency of savable dollars-annual…
before being converted to the Roth account, likely eliminating the possibility of paying tax on the growth. Once in the Roth, all future growth is tax-free! Real World Example Let’s…
…contribute through a backdoor Roth IRA. Fund your child’s Roth IRA. If they have earned income, you can fund a Roth IRA up to their earned income or $5,500, whichever…
KEY TAKEAWAYS Many successful people entering their golden years have multiple retirement accounts with different tax statuses (IRAs, 401(k)s, Roth IRAs and more). While…
With the continued increase in health insurance cost, many employers and self-employed individuals are using high-deductible health insurance plans combined with a Health Savings Account (HSA). HSAs can be a…
Last year I wrote an article on one of the best benefits for Microsoft Employees – that benefit just got even better! I’ve highlighted three benefits that I believe all…
…siblings of the deceased. These non-spousal beneficiaries must begin taking distributions on the accounts regardless of if it is a traditional IRA or a tax-free Roth IRA. The traditional tax-deferred…