Yes, You Can Still Convert to a Roth IRA in 2021! Want to switch to a Roth IRA before the end of the year? Good news: you can do a Roth conversion in 2021! With only a few months left in the year, it’s more important than ever to understand the rules, benefits, and possible … Read more
Are you struggling to understand tax terms that seem like they’re written in another language? You’re not alone! Today, I’m going to break down one of those confusing tax concepts that can actually save you money: for AGI deductions. As someone who’s spent countless hours trying to maximize tax savings for both myself and our … Read more
Are you curious about how long Roth IRAs have been helping Americans save for retirement? I know I am! As someone who is crazy about retirement planning, I find it interesting that one of our best tax-advantaged investment vehicles is still pretty new compared to other retirement accounts. In fact, the Roth IRA has only … Read more
The purpose of this content is to teach, so it may include details about products, features, or services that SoFi does not offer. Retirement is a milestone that many people look forward to with great anticipation. While the freedom of having more time to spend with loved ones, pursue hobbies, or travel is certainly something … Read more
These reviewers are experts in their fields and professional writers who often work for reputable newspapers and magazines like The New York Times and The Wall Street Journal. Our expert reviewers review our articles and recommend changes to ensure we are upholding our high standards for accuracy and professionalism. Our expert reviewers hold advanced degrees … Read more
One of the most important questions you’ll have to answer when planning for retirement is, “How long does a pension last?” The answer can have a big effect on your peace of mind and financial security in your golden years. Let’s talk about your options and everything you need to know about how long your … Read more
Are you sitting on a traditional IRA and wondering if now’s the right time to convert it to a Roth? This question plagues many retirement savers, and for good reason – it’s a decision that can have major tax implications both now and down the road. While 2021 was once considered an opportune time due … Read more
There are a lot of people who worry about not having enough money in retirement. This is where a single premium indexed annuity might come in handy for many of us who want to protect our financial future. But what is this financial product, and is it right for you? Let’s make it easy to … Read more
You can have as many IRAs as you want, but there is still a limit on how much you can contribute to all of them. The products shown on this page are mostly or entirely from our advertising partners. They pay us when you click on one of their links and then do something on … Read more
The key methods mentioned across these sources include: Using non-deductible contributions as the basis for tax-free conversions Implementing partial/serial conversions to stay in lower tax brackets Strategic timing of conversions during lower-income years Careful documentation of the tax basis in your IRA Let me craft a comprehensive article on this topic, Are you sitting on … Read more