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Investors that have high incomes and don’t qualify for a deductible IRA or a Roth IRA are allowed to open a nondeductible IRA instead. The earnings are tax-deferred – not tax-free as they are in a Roth. A nondeductible IRA can make sense if you think you can convert the funds to a Roth IRA in [...] Read more » In an earlier step you began contributing to your 401(k) to get the maximum employer match, if your employer offers it. Now, we’re going to focus on the benefits and strategies for contributing additional funds to the 401(k). When you compare the percentage of your salary that your employer matches with the maximum contribution that you [...] Read more » In an earlier step you began contributing to your 401(k) plan to get the maximum employer match, if your employer offers it. Now, we’re going to focus on the benefits and strategies for contributing additional funds to the 401(k). When you compare the percentage of your salary that your employer matches with the maximum contribution that [...] Read more » A Roth IRA will provide you with tax-free investment growth. It also will provide you with cash if you need it. After age 59 and 1/2 all withdrawals are tax-free, no matter what you use them for. However, you can take back your original contributions at any age, without paying taxes or penalty. If you don’t need the [...] Read more » Invest in a Roth IRA if you are eligible for one. A Roth IRA will provide you with tax-free investment growth. It also will provide you with cash when you need it. After age 59 and 1/2 all withdrawals are tax-free, no matter what you use them for. However, you can take back your original contributions at any [...] Read more » If your employer offers a 401(k) plan and provides a matching contribution up to a percentage of your salary (commonly 6%) you should put as much of your salary as you can into the 401(k) in order to get the full employer match. Even if you dislike the investment choices your employer offers invest anyway [...] Read more » If your employer offers a 401(k) plan and provides a matching contribution up to a percentage of your salary (commonly 6%) you should put as much of your salary as you can into the 401(k) in order to get the full employer match. Even if you dislike the investment choices your employer offers invest anyway in [...] Read more » |
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