Approaching retirement is a pivotal moment in one’s financial journey. The decisions made during this phase can significantly impact the quality of life in retirement. The delicate balance between borrowing and using savings requires careful consideration to ensure financial security during the golden years.
After-tax funds can be segregated from other funds in the account and transferred directly to a Roth IRA. In fact, it would be a mistake not to. Don’t confuse after-tax contributions to a regular 401(k) with contributions to a Roth 401(k), which are also made with after-tax dollars but to which slightly different rules apply.
If you’re a business owner, you’ve most likely worked hard to build and manage a company that provides for you and your family. As a result, the income and wealth derived from your business success has become a significant portion of your estate. However, the business that provides for your family during your lifetime may…
Individuals and business owners alike are concerned about the already high, and continually rising, cost of health insurance. But whether you are an employee, an employer, or a self-employed individual, there is a range of Federal tax deductions available, including breaks provided by health savings accounts (HSAs) and similar tax-advantaged accounts.
Many fund companies display their performance figures prominently, but they may take a low-key approach when it comes to mutual fund fees. Generally, when funds are doing well and returns are strong, investors tend to overlook the fees charged by mutual funds. However, regardless of the performance of your investments, you should understand what fees…
America’s older generations grew up in a different world where it was customary to be courteous and trusting. Unfortunately, these exemplary standards of conduct could get some individuals into trouble. Con artists bank on the willingness of older Americans to trust in a variety of too-good-to-be-true investment “deals,” making them growing targets of financial fraud.…