Roth accounts are after-tax accounts with unique benefits for retirement savers. Namely, investments grow tax-free, and withdrawals aren't subject to tax during one's retirement years. But there are some key differences between Roth savings in a 401(k) plan and in an individual retirement account.
Readers, I am embarrassed to admit that a radical change to our retirement system, tucked into the “Build Back Better” Budget Reconciliation bill, wholly escaped my notice until just recently. As explained by Ashlea Ebeling, also at Forbes,
Every week for the past 14 months, the wealth advisor Aaron Bell has had to help his affluent clients buy houses. Many of them aren't buying for themselves but for their adult children.
I spent 30 years building a nest egg to pay for my retirement. It’s been two years since I last worked full time, and I have discovered something deeply troubling. I don’t like spending that nest egg. Instead of kicking back, I’ve been doing everything possible to avoid tapping my savings.
You can use your current salary to estimate how much money you'll need for retirement. People should aim to retire with around 10 times their current income, according to a list of benchmarks put together by Fidelity.
Last week, my 55-year-old married daughter (her husband is 58) called to express her anger that I had failed to send her a $25 gift certificate. They have 401(k) accounts totaling over $750,000 and a home valued at over $550,000.
Money can be a sore subject in any relationship. Sharing bank accounts with your partner may make your budget issues even worse, according to Suze Orman, host of the "Women & Money" podcast.
Sam Primm told Insider he and his best friend bought their first property when they were 26 years old. He's now been in real estate for about seven years. It's an endeavor he began after deciding he wanted to build wealth and become financially free.
Dave Ramsey is a popular personal finance personality, and he's got some great advice about paying back debt. But his advice about retirement planning leaves a lot to be desired.
Have a question about your own retirement savings? Email us at HelpMeRetire@marketwatch.com Hello, I’m hoping you could help me get an idea of how much I need to earn monthly in order to save enough money for retirement. I’m 24 years old, I only work part time and live with my mother.
There are countless retirement strategies that can help you fund your golden years. But an interest-only retirement plan can help remove one of the biggest fears about life after leaving your job: Will my money outlast me?
An inside look at how Nike founder Phil Knight is giving a fortune to his family while avoiding billions in U.S. taxes. Sitting in the bleachers by the University of Oregon’s running track, Nike Inc.
A friend who had just retired called. She was wondering how she should use her retirement corpus. I have a long list in mind she said, and I began to panic. Like what I asked? Renovate my home, buy myself a new car, take some much postponed trips and may be buy some jewellery, she said.
‘I was told by my income tax preparer that she should have paid some kind of a tax. But she never filed income taxes for years as she was not required to because of her low income.’ Dear MarketWatch, My late mother passed her condo onto me through a quitclaim process 10 years before she died.
More people are going to retire in the next 15 years than have ever retired in the history of our country. By 2030, the Census Bureau projects we’ll reach the first time that the United States will have more 65-and-older adults than children — 78 million age 65+ versus 76.
It is the start of a new academic year and while that might not be as associated with resolutions as the day the calendar year ticks over, it is not a bad time to make a few changes.
Everyone wants to be happy in retirement. So what will it take to get there?
If you were planning to do a “Roth IRA” conversion to keep your retirement savings permanently out of the hands of the IRS, you might want to get on it.