retirement

2016 vs 2017 Traditional IRA versus Roth IRA – Contribution and Phase-out Income Limits

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I regularly receive reader questions asking me to clarify the difference between a Roth IRA and Traditional IRA plan. Both are excellent retirement investment vehicles, but based on your income and tax situation one may be a better first choice than the other. Here are some key differences and a summary table of the two retirement investment […]

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2016 and 2017 401k, 403b Contribution Limits and Catch-up Amounts

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[Updated with 2016 contribution limits] The IRS has released 2016 employer sponsored retirement plan limits, which covers 401(k), 403(b), and Government Thrift Savings (TSP) plans.  The  annual contribution limit, which is indexed to inflation, remained unchanged. So like 2015, the maximum amount employees will be able to contribute on a pre-tax basis in 2016 will be $18,000. The catch-up pre-tax […]

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2014 vs. 2015 Savers Tax Credit Limits to Help Workers Save for Retirement

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[Updated with 2015 amounts] This IRS has released 2015 updates for the savers credit, which helps lower income earners save for retirement by providing an offset to retirement plan (401k and IRA) contributions. A lot of people don’t know about or take advantage of this little known credit, officially referred to as the retirement savings contributions credit.. The […]

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Target Date Funds – A Good Retirement Strategy For Those With Limited Time and Investment Expertise

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Target date funds are mutual funds that are professionally managed with asset allocations and risk profiles set to change along a glide path reflecting your target retirement date. For example you would be buy a 2040 target date fund if you expect to retire around the year 2040. Or put another way, Bill who is […]

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Roth IRA Early Withdrawal Rules For After Tax Contributions, Traditional IRA Conversions and Investment Earnings

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A Roth IRA can provide a great way to build up savings for retirement. These accounts allow funds to grow on a tax-free basis. And, provided that the account owner meets just a few requirements, all the money contributed and earned in a Roth IRA account may also be withdrawn without taxation at retirement. Oftentimes, however, […]

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2013 Roth IRA Contribution Limits Based on Filing Status and Income

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After several years the IRS has raised Roth IRA contribution levels, along with the annually indexed income qualification levels that allow eligible contributions. This is good news for those looking for tax effective ways to manage their retirement savings. Unlike 401(k) and Traditional IRA plans, you cannot deduct contributions to a Roth IRA from your taxable income. But […]

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Tax Planning for 2013 – Dealing with The Uncertainty and Making Smart Money Moves

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Being the finance wonk that I am, I rather enjoy reading some of the tax advice that the big accounting firms put out for their clients. While their target audience (based on their $250 to $500 hourly fee) is clearly higher net worth individuals, you can glean some pretty useful advice from their reports. Take […]

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How Financial Planners Charge And Understanding Their Fee Structure

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A few weeks ago I began my search for a financial planner (or financial advisor as some prefer) to review my monetary situation and see if I am on the right track for a sound retirement.  I consider myself pretty savvy when it comes to personal finance, but I think it is always good to meet with an expert for a […]

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Protect Your Retirement Savings Through These 4 Diversification Strategies

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With ongoing volatility across global markets and an uncertain future in terms of taxes, regulations and government safety nets such as social security; diversification is key in managing the risk associated with your retirement savings. That’s why these four risk diversification strategies across products and services make a lot of sense for the changing world […]

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Carnival of Retirement – Tips and Topics For Your Golden Years

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Welcome to the latest edition of the Carnival of Retirement (33rd edition) where you’ll see the latest and greatest articles on retirement and related personal finance topics. Whether you are just planning, in or worried about being able to retire, you’ll find some useful perspectives and advice here. Shilpan @ Street Smart Finance writes Keeping […]

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