IRA & 401(K)

Does Gender Affect Your Retirement Savings?

Does Gender Affect Your Retirement Savings?

It’s not always something we consider in the earlier years of our careers, but saving for retirement isn’t something you want to keep putting off. Recently, I’ve seen some articles that discuss how Americans aren’t saving…

How to Save $1 Million In Your 401(k)

How to Save $1 Million In Your 401(k)

Got $1 million in your 401(k)? Some savers might be surprised how feasible that savings goal is if they put their mind — and their money — to it.

Of course, if you don’t have $1 million saved, you’re…

IRA vs. 401(k) – What’s the Difference?

IRA vs. 401(k) – What’s the Difference?

So you’re planning for retirement — and feeling unsure about which product is the best vehicle to get you there. These days, few people have access to “defined benefit” plans like the pensions that may have guaranteed your grandparents a…

What is an Individual Retirement Account (IRA)?

What is an Individual Retirement Account (IRA)?

An Individual Retirement Account (IRA) is an account designed for retirement savings that allows you to set aside money and grow it on a tax-deferred basis until withdrawals begin at age 59 1/2 or later (or earlier, with…

What is a Roth IRA?

What is a Roth IRA?

A Roth IRA is a newer type of IRA, established in the Taxpayer Relief Act of 1997, which allows taxpayers, subject to certain income limits, to save for retirement while allowing the earnings to grow tax-free. Contributions are made…

What is a SEP IRA?

What is a SEP IRA?

A SEP IRA is a retirement plan available to self-employed persons and small business owners. Contributions up to 25% of eligibile compensation or max of $51,000 (2013) to a SEP IRA are typically 100% tax deductible and earnings…

Can You Fund a 401k and an IRA?

Can You Fund a 401k and an IRA?

Here’s a classic retirement question from a reader:
I’m in my 30’s, and saving about 10% of my salary. Soon I can contribute to my 401k—and they’ll match 100%, up to 5% of my salary…

Take Advantage of the Spousal IRA

Take Advantage of the Spousal IRA

One of the scary things when you aren’t working (besides covering the bills) is the fear of falling behind in your retirement. Enter the spousal IRA.

If you’re married and filing jointly, this option basically enables your working…

Roll over your 401(k) to a Roth IRA?

Roll over your 401(k) to a Roth IRA?

Earlier this month, we wrote about rolling over your 401(k) into a traditional IRA when you leave your job. But what if you want to roll into a Roth IRA?

Roth IRAs offer a smart tax break that you…

Get the Most Out of Your IRAs

Get the Most Out of Your IRAs

Q: I plan to put $5,000 into my IRA this year, but I want to open a Roth IRA, too. Can I put another $5,000 into the Roth?

A: Sadly, in this case, the answer is no. But…

What Goes in Your IRA?

What Goes in Your IRA?

A surprising number of people ask me questions like, “Which IRA is better?” or “Which IRA pays more?”

An IRA—like a 401k or any other retirement account—is just an empty bucket. They’re all the same, until you…

How to Open an IRA

How to Open an IRA

When we met Ashley on Monday, she was pacing the floor, worried about her future savings—when suddenly she got the news that her mother had already opened a Roth IRA in her name.

This raised several questions for Ashley…