Roth IRA for a Teenager – An Astronomical Result?
The mailman delivered my son’s 2023 W-2 the other day. I was curious what he earned last year as a lifeguard at our community pool, so I opened the envelope.
roth contribution
How the Contribution Limits Work When You’re in Two Plans
The start of the new year is a good time for a refresher course on the contribution limits that apply when someone is in two different retirement plans at the same time or at different times within the same year (e.g., after changing jobs). The rules are challenging because there are two different contribution limits to worry about – the “elective deferral limit” and the “overall contribution limit.”
How the Contribution Limits Work When You’re in Two Plans
The start of the new year is a good time for a refresher course on the contribution limits that apply when someone is in two different retirement plans at the same time or at different times within the same year (e.g., after changing jobs). The rules are challenging because there are two different contribution limits to worry about – the “elective deferral limit” and the “overall contribution limit.”
Roth IRA Distribution Ordering Rules – Keep It Simple
Within the 400-page Ed Slott advisor training manual, we include a basic chart that outlines the Roth IRA distribution ordering rules and the availability of those specific dollars. When presenting the material to a live audience, I always say it is my favorite page.
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