As for college aid, the savings in your daughter's Roth IRA--unlike money in a bank account--will not reduce her eligibility for federal need-based financial aid (such as grants ...
The IRS dictates not only how much money you can deposit in a Roth IRA but also the type of money that you can deposit. Basically, you can contribute only income you earn to a Roth IRA.10This means that your child must have earned income during the year for which a contribution is ma...
"We're providing people knowledge about [their] finances as it's relevant," Hogan said. "You can talk all day long about Roth IRA and backdoor Roths and this, that and the other thing. But unless it's specifically relevant to that person at that time, they're ...
If you fit the eligibility requirements and you made contributions to an IRA (including a Roth IRA), 401(k) or 403(b) (including designated Roth accounts), governmental 457 plan, SEP or SIMPLE plan, or certain other plans, you may be able to take a credit of up to $1,000 ($2,00...
This is an interesting perspective, particularly for folks like my wife and I who still feel like we’re just starting out. Granted we’ve got several years of saving under our belts already, but we’re just kicking it into high gear as of about a year ago. ...
"We're providing people knowledge about [their] finances as it's relevant," Hogan said. "You can talk all day long about Roth IRA and backdoor Roths and this, that and the other thing. But unless it's specifically relevant to that person at that time...