There has been a lot of talk lately about the mega backdoor Roth IRA. For a long time, it was an unspoken secret used by retirement planners. However, the IRS released guidance that specifically addressed both backdoor Roth IRA conversions, and the so-called Mega Backdoor Roth IRA. As a result, it has gained even more popularity […]
Wondering how you’ll pay for your kids’ college expenses? Using Roth IRAs for paying college expenses can provide quite a few benefits. Learn how to do it properly in this article.
Contribute to an individual retirement plan like a Roth IRA or Traditional IRA? Here are the 2018 IRA contribution limits to reference.
Individual retirement accounts (IRAs) are great vehicles for investing in for retirement. However, as with anything the government creates, they don’t always make it easy to navigate the ins-and-outs of the product. If you currently have an IRA, or are thinking about starting to invest in an IRA, make sure that you don’t do these […]
One smart way to invest for growth is to use accounts that let your money grow without generating a tax bill each year. There are Tax-Advantaged Investments that are either exempt from taxation, tax-deferred or offers other types of tax benefits. Several tax-advantaged retirement plan accounts exist such as IRAs and Roth IRAs. If you want […]
If you’re new to investing the sheer amount of options you have can be more than overwhelming. You not only have to decide what to invest in, but you also have to determine what type of account to open and where to open it. This is the predicament I’ve found myself in. You see, I’ve […]
One of the biggest benefits of saving and investing in a 401k is that it’s automatic – your employer just takes care of everything for you. Don’t you wish that investing in a Roth IRA could be that simple? Well, you can setup an automatic Roth IRA and make it easier to save for retirement […]
The other day I was talking about my favorite financial hack, which is front loading your life. This basically means saving as much as possible as early as possible. Along with my hack, I shared with you one of my favorite quotes that inspired it: The best time to plant a tree was 20 years […]
When it comes to retirement accounts, the biggest debate that continues to rage on is this: Traditional IRA or Roth IRA. You have several financial pundits that promote the traditional IRA, and you have just as many pundits that promote the Roth IRA. There is no definitive, “one size fits all” when it comes to […]
When it comes to saving for retirement, you have so many options in front of you that it’s difficult to make an excuse not to get started. I’ve never worked for a company that offered employer-based retirement plans — that was my excuse for not getting started. But, the truth is you don’t have to […]
I get asked a lot about ways to get started investing in high school. That’s a tough question, because I’m a firm believer that you should start investing as early as possible. However, it’s really a bad decision for minors to own stocks. I think if you’re going to teach children how to invest, you […]
If you are just considering getting started investing, you may be overwhelmed by the first choice on the investment account application: what type of account do you want? The truth is that there are a lot of different accounts for different purposes, so I will try to shed a little light on the more common […]
I’m loving the great questions. I actually waited a week to post this question because I had a post scheduled earlier in the week that would help answer the question. This week’s question comes from Sean, who is struggling to get started investing because he keeps procrastinating…here’s the question: The Question My name is Sean […]
As long as you keep sending me questions, I’ll do my best to answer them each week (if you’re comfortable letting me). You can ask a question here. This week’s question comes from Solomon, who was wondering what the difference is between a Roth IRA and an ETF…check it out: The Question I have a […]
Hi, I’m Kevin McKee from Thousandaire.com and I’m interrupting your regularly scheduled programming today to give you my biggest financial pet peeve. Robert and I are swapping posts today, so you can head over to my site to read Robert’s pet peeve about The Biggest 401(k) Mistakes You Can Make. Have you ever heard someone […]