It’s one of the hardest questions to answer in all of personal finance. Are you on track to retire? To help you answer that question, the folks at Personal Capital have just released a free retirement calculator. Give it a try and let me know what you think in the comments below.
The IRS recently released its 2015 update to income and contribution limits for Roth IRAs. As detailed below, the contribution limits for a Roth IRA are unchanged for 2015–still $5,500. The catch-up contribution for those 50 or older, which is not indexed for inflation, remains $1,000. The income limits to qualify for a Roth IRA, however, […]
Imagine you’ve worked hard and saved for retirement. You have assets in taxable accounts, traditional retirement accounts, and Roth retirement accounts. When you retire, which accounts should you withdraw from first? That’s the question I posed to Stuart Ritter of T. Rowe Price. In the interview that follows, Stuart does a great job of discussing […]
The IRS recently released the new 2015 401k and IRA contribution and deduction limits. While 401k limits had remained flat since the last increase in 2012, they are going up again in 2015. 401k and catch-up contribution limits are all increasing. Limits for IRA contributions, however, are not going up. Here are the detals. 401(k) […]
One of the most important and confusing decisions retirees must make is how and when to claim social security benefits. There are countless things to consider including age to start taking benefits, whether you’ll continue to work, spousal benefits, and full retirement age. For that reason, I asked Social Security benefits expert Marc Kiner to […]
The 5-year rule on Roth IRA distributions comes in two flavors. The first applies to earnings from Roth IRA contributions. We covered the rule in Podcast 105. The second aspect of the rule applies to distributions of Roth IRA conversions. That’s what we’ll look at today. Listen to this Article 1. The Two 5-Year Rules […]
Imagine you’ve just inherited some money. The amount just happens to match the outstanding balance on your mortgage. Now you have a decision. Do you pay off the mortgage or invest the money for retirement. That’s the question facing a podcast listener named Shelly. Here is her email to me: Great job on your podcasts. […]