The Social Security program is the largest government program in the world and the single greatest expenditure in the federal budget. The actual name for Social Security is the Old Age, Survivors, and Disability Insurance (OASDI) program. It consists of many parts, including guaranteed income to the retired, disabled, and qualified survivors, insurance in the [...]
If you’re over 50 and diligent about retirement savings, you may be maxing out both your 401k and traditional or Roth IRA. But to really supercharge your savings and make sure you are extra-prepared for retirement, you should also take advantage of catch up contributions. Catch-up contributions are special provisions that allow you to contribute [...]
Roth IRA conversions are the trendy thing to do in 2010 since the income limits disappeared. If you’re considering a traditional IRA conversion to Roth IRA this year, here’s a guide of Roth conversion articles to help you navigate conversion rules and the pros and cons of Roth IRA conversions. Roth IRA Conversion Rules 2010 [...]
Since the number of Roth IRA conversions per year is unlimited, and we have the ability to unconvert the Roth IRA conversions, there’s a fantastic strategy to Roth IRA conversions to minimize your taxes! We previously explored roth conversion strategies like increasing your basis to avoid taxes, but if you’re ready to convert the taxable [...]
This is the final article is a series on Roth IRA conversions. We’ve been talking about Roth IRA conversions all week. To recap, the 2010 Roth conversion rules mark the first year that there is no income limit for Roth IRA conversion eligibility. Because of that, many people have access to a Roth IRA for [...]
