if you converted another tax-advantaged account (Simplified Employee Pension (SEP) IRA, Savings Incentive Match Plan for Employees (SIMPLE) IRA, traditional IRA, 401(k) plan, or 403(b) plan) to a Roth IRA and then changed your mind, you could undo it in the form ...
Pick the IRA that fits you best Keep in mind: Not only do the Roth and traditional IRAs offer different tax benefits, they also have different IRS rules around eligibility based on your income. Open and contribute to the one that suits you. ...
but I know if you roll the Roth 401k dollars over to a Roth IRA, there are no required minimum distributions, but if you have a traditional IRA, you start running into required minimum distributions at age 70.5. Having the flexibility to choose when ...
The same goes with estate planning issues. A Roth IRA passes to heirs income tax-free but subject to any possible estate taxes. It can be “stretched” to allow for additional years of tax-free growth for heirs. The cash value of a whole life insurance policy disappears when you die, an...
This chart should convince every teen to start saving for retirementTanza Loudenback