Wondering if you can still use that sneaky backdoor to get money into a Roth IRA even when you make too much? Good news – the backdoor is wide open in 2025! There have been rumors for years that the Backdoor Roth IRA would be shut down, but it is still a legal way for … Read more
Learn how to open a Roth IRA, from checking eligibility to choosing investments or maximizing your retirement savings. 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 our site. However, this does not influence … Read more
Americans looking to stretch their retirement savings may want to head to states in the South or the Midwest, a recent analysis suggests. Around the U. S. , a $1 million nest egg can cover an average of 18. 9 years worth of living expenses, GoBankingRates found. But where you retire can have a profound … Read more
The good news is that you can you use a Self-Directed IRA or other self-directed retirement plan (e. g. 401k) and invest it in a new or existing business or franchise. You can’t put money into a business that you already own, but you can put money into any other business. You can use your … Read more
What is a good size pension pot on which to retire at 60? It’s time to review your retirement strategy to see how your pensions and other investments are performing, and this Moneyfarm blog has been published to help you with that task. Thinking about retiring at 60 with £500,000 tucked away? You’re not alone. … Read more
Are you staring at your 62nd birthday and wondering if you should hit that Social Security button right away? Or maybe you’re thinking “What if I just wait ONE more year?” Well you ain’t alone in this confusion! I’ve been researching Social Security strategies for years, and lemme tell you – that single year between … Read more
Are you or a loved one on Social Security? I’ve got some fantastic news that’ll make your wallet a bit happier next year! After years of meager increases, seniors and other Social Security recipients will see their biggest raise in decades when 2022 rolls around. The Big 2022 Social Security Raise: What You Need to … Read more
Cashing out a 401(k) early can be tempting, but it can come at a cost. If you cash out your 401(k) too soon, you will be charged fees unless you meet one of the early withdrawal exemptions. Find out more about how taking money out of a 401(k) early affects your taxes and decide if … Read more
No one opens and contributes to a workplace savings account like a 401(k) or a 403(b) expecting to need their hard-earned savings before retirement. Your 401(k) could be a way to get money if you need it and can’t get it from anywhere else. The key is to keep your eye on the long-term even … Read more
In this guide, I’ll break down the three main types of retirement that have become standard options for today’s retirees: traditional retirement, semi-retirement, and temporary retirement. Each offers unique advantages and comes with its own set of considerations. Let’s dive in! Traditional Retirement: The Classic Approach Most people think of traditional retirement when they think … Read more