There are two major differences between saving for retirement and eating bacon. Bacon is bad for you and saving is regarded as good for you. Yet most of us eat bacon regularly and don’t save. Beverly DeVeny explains how you can have your bacon... and eat it too.
If you are taking care of children and not working outside the home, you may believe that you are not eligible to make an IRA contribution. You may think that because IRA contributions must be based on taxable compensation, if you personally have not worked this year, you are out of luck. That may not be case. Here's why.
Are you self-employed or a small business owner and your business expenses go on your individual tax return? If so, and you have an extension for filing your 2014 federal income taxes, you may want to consider making a SEP contribution for 2014. It is not too late! Here is how it works.
Recent weeks have been volatile times for the markets. In times of economic uncertainty, tools that allow you a “do over” are more valuable than ever. As an IRA owner, you have such a tool in your IRA tool kit: the recharacterization. We will discuss the many reasons you may consider a recharacterization.
Chances are that, by now, you’ve heard of a retirement planning strategy known to many as the “Back-Door Roth.” But what is it? Why is it important? What are the potential traps and how can it benefit clients? In this report, we dive deep into answering each of these questions and more.
Having a summer job can be a valuable experience for a young person. Whether it is scooping ice cream, lifeguarding, or working as a camp counselor, a summer job can teach life skills and give a first opportunity to manage finances. An important part of managing finances is saving for the future. Why not make contributing to an IRA part of your child or grandchild’s summer job experience? Here's how.
Retirement accounts are already powerful savings vehicles. If Hillary Clinton becomes President, these floated tax plans paint a beneficial picture for your retirement account.
The 5 biggest retirement mistakes - miscues that can cost those saving for and nearing retirement - have nothing to do with investing! I sat down with TheStreet.com to discuss what I believe are the five biggest retirement mistakes people make with their retirement accounts.
This week's Slott Report Mailbag, proudly sponsored by GoldCo Precious Metals, delves into more common IRA questions. Can you put your future retirement home in your IRA? Can you make an IRA contribution for a deceased person in their year of death? When can you take money out of your Roth IRA? We have the answers below.
A taxpayer was recently given bad advice by his CPA of two decades. In a just released private letter ruling (PLR), "Tom" was given an extension to complete an IRA rollover due to advisor error. Don't make this same mistake.
