How many self-employed retirement accounts can you have? You have several options to save for retirement when you’re self-employed with or without employees. In addition to a traditional IRA and Roth IRA (depending on your income), a couple of excellent options are a SEP-IRA and a solo ...
For people expecting to buy a home in the next two to four years, Kampitsis recommends low-risk investment options, such as a high-yield savings account, money market account, Treasuries or I-Bonds. Right now, some of the best savings accounts have interest rates of 4% or 5%. For ...
Suze Orman says a 401(k), Roth 401(k), and Roth IRA are smart tools for building a secure retirement. Learn how these accounts can boost your savings.
00 was stoned not stupid and realized that they weren’t going to roust them as this “Strip show” was probably a nightly thing for those fortunate enough to have seen the show. These two true tales prove that you don’t need any electronic hand-held gadgets to have fun; a car, weed...
Over-achieving savers often run into questions about their ability to contribute to multiple tax-advantaged retirement accounts. Here’s a recent question from a reader: I have a traditional IRA and a Roth IRA. I make under $50K a year. According to your article, I need to split the $6...
If you can use a Roth, such as aRoth 401(k) or Roth IRA, your contributions are taxed, but withdrawals of contributions and earnings are generally tax-free. Having tax-free accounts to withdraw from in early retirement leaves you with more money to spend. ...
These accounts offer higher contribution limits than an IRA, but they have a similar setup. A traditional plan allows you to contribute on a pre-tax basis and owe taxes only when money comes out of the account. A Roth version operates on an after-tax basis, with any qualified withdrawals ...
These S&P 500 funds share low costs and similar features, with slight differences in tracking and expenses. Kate StalterFeb. 10, 2025 How Tariffs Affect Investments New tariffs introduce more market uncertainty. Here's what to keep in mind. ...
Thus, it’s not a bad idea to have some retirement funds that you have already paid taxes on (e.g., a Roth IRA)—and some that you haven’t, such as a traditional 401(k). Then you can plan your distributions to minimize your tax liability. If you cann...
Before you convert to a Roth, calculate the tax liability. Make sure that you have enough funds on hand to pay any taxes owed. It’s better to pay the taxes from your non-retirement accounts; otherwise, you will need to include in your income for the year the amount that you withdrew...