Today we’re covering the Roth conversion rules in the second of a series on Roth IRA conversions. As mentioned yesterday in How to Make a Roth IRA Conversion, some special rules went into effect on January 1 that make 2010 Roth IRA conversions more attractive than ever. Roth Conversion Rules If you haven’t yet, you […]
This is the first article in a series on Roth IRA conversions this week. As you probably know, there are no longer income limits for future retirees hoping to convert traditional IRAs to Roth IRAs. Previously, only those with income under $100,000 could take advantage of the superior tax treatment of a Roth. Today, the Roth IRA […]
Solo 401k or a SEP-IRA, which one is the best retirement plan for the self-employed? When I told you about my struggles with my Solo 401k contribution at Fidelity, Lee suggested I look at the SEP-IRA, which made us take a step back and relook at all the available plans; the Solo 401k, the SEP-IRA, […]
Today we’ll wrap up our look at various retirement plans ideal for small business owners and the self-employed with the one that inspired the series – the Solo 401k. So far, we’ve looked at the SEP-IRA and the SIMPLE IRA. Solo 401k Overview A Solo 401k combines the characteristics of a regular 401k plan with […]
SIMPLE IRAs are up next as we continue the series exploring three different types of retirement plans ideal for small business owners and the self-employed. Yesterday, we started the series with an in-depth look at the SEP-IRA. SIMPLE IRA Overview SIMPLE stands for Savings Incentive Match Plan for Employees. SIMPLEs were established to encourage small […]
After Madison posted about her Solo 401(k) woes, a reader, Lee, suggested she look into a SEP-IRA instead. Let’s take a step back and explore 3 different types of retirement plans ideal for small business owners and the self-employed. We’ll start the series with an in-depth look at the SEP-IRA. SEP-IRA Overview SEP stands for […]
Time to help out a reader, Marke, who is facing a tough decision. His home has lost value, like many people today, and he’s not sure how to handle it. However, it’s not just his house he’s worried about. He’s nearing retirement, and needs to start planning for that, too. It seems that keeping his […]
The Roth IRA can be a very powerful vehicle to save for retirement. I’ve been getting a lot a questions lately about the Roth IRA and thought it would be helpful to share them in a Q & A format. My wife and I both opened a Roth IRA account with $4,000 each. Can we […]
I recently opened a new self employed 401k (or solo 401k) plan. I set up one plan with two accounts, one for my husband and one for me. It all started when I got an email from David at My Two Dollars who was looking to compare self employed tax deferral options for his own […]
All my life I’ve been a saver. Always with the intent to save enough so that I have the freedom in my life to do what I want. And for the last year, I’ve had an incredible time sharing all the tips and tricks that I’ve learned along the way. Background Long time readers will […]
