You can ask your IRA custodian to apply over-contributions to the following year if they don’t exceed the maximum allowable limit for that year. However, the 6% penalty still applies to excess amounts that rem
I love what-if financial scenarios -- where you figure out what would happen if, say, you invested a certain sum regularly over a long period. I've made many charts over the years, in fact, showing various scenarios for articles I've written.I think I lo
This type of account is called a Roth IRA, or Roth 401k. And now here to teach you where to begin your personal finance journey. It’s today’s mentor and luster. Oh, and I’m super happy that we have her here. Ann Lester’s here....
For starters, the new fiduciary rule will only apply to self-directed retirement accounts (namely 401K’s and IRA’s). Everywhere else, advisers will still be held to the far less stringent “suitability standard” with their investment advice versus advice in their client’s best interests (as...
If the Build Back Better passes, you can still make non-Roth after-tax contributions but you can’t convert those non-Roth after-tax contributions to Roth. This ban covers converting after-tax money from a traditional IRA to a Roth IRA, rolling over after-tax contributions from an employer...