DR 131: Retirement Plan Options for Small Businesses–An Interview with Fidelity’s Brian Hogan

One of the biggest surprises for me as a blogger was the retirement plan options available to a small business owner. While a 401k maximum contribution is $17,500 (as of 2014) and an IRA is $5,500 (as of 2014), as a small business owner I can sock away more than $50,000 a year. It almost […]

Published or Updated: November 24, 2014

Roth IRA Contribution and Income Limits for 2014 & 2015

Roth IRA Contribution and Income Limits

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, […]

Published or Updated: November 5, 2014

DR 121: Which Retirement Accounts Should You Withdraw From First?

How To Draw Down Your Retirement Accounts-735x1102-PT

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 […]

Published or Updated: October 31, 2014

401k and IRA Contribution and Deduction Limits for 2014 & 2015

401k & IRA Limits

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) […]

Published or Updated: October 31, 2014

DR 119: Advanced Social Security Benefits Strategies–Interview with Marc Kiner

Advanced Social Security Benefit Strategies-735x1102-PT

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 […]

Published or Updated: November 2, 2014

DR 111: What Should You Do With Your 401k When You Leave Your Job

What to do with 401k when leaving a job

What should you do with your 401k or 403b when you leave your job? This is a question that confronts more and more people. According to the Department of Labor young Baby Boomers held on average 11.3 jobs from age 18 to 46. So it was no surprise when I received the following email from […]

Published or Updated: September 29, 2014

DR 109: The 5-Year Rule on Roth IRA Conversions

5 year Roth IRA Rule

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 […]

Published or Updated: September 24, 2014

DR 108: Should You Pay Off Your Mortgage or Invest for Retirement?

Pay Off Mortgage or invest

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. […]

Published or Updated: September 23, 2014

DR 105: The 5-Year Roth IRA Rule for Contributions (breaking the rule is costly)

5 year Roth IRA Rule

The Roth IRA was established by the Taxpayer Relief Act of 1997 and named after its chief legislative sponsor, Senator William Roth of Delaware. The Roth IRA enables individuals with earned income to contribute after-tax (nondeductible) money to the retirement account. If the rules are followed, the money grows tax free. Unlike a traditional IRA, […]

Published or Updated: September 9, 2014