Back-Door Roth Conversions May Be Your Best Option

For most Americans, the Roth Individual Retirement Account is an excellent way to save for retirement.

Once the money is deposited into a Roth IRA, it can potentially grow tax-free for many decades. And when retirees eventually tap into these accounts, they won’t owe tax on the withdrawals.

Why Saving for College Rarely Hurts Financial Aid Chances

Many parents worry that their children won’t qualify for financial aid, but that usually is not a problem.

Here is why you probably won’t need to fret about this:

Roth IRAs and the Five-Year Rule

One of the most attractive aspects of the Roth Individual Retirement Account is that you can take withdrawals tax-free. The more the Roth IRA grows over time, the better your eventual tax break.

Teaching Your Teenagers About Money

Open a Roth IRA and match their contributions

If your child has a part-time job, one of the easiest ways for them to start saving is by opening a Roth IRA. Any earned income (e.g., wages, salary, tips) is eligible for contribution to a Roth IRA.

Charitable Giving: How to Optimize Your Contributions in 2018

5 Ways to Protect Your ATM Use

You might think it’s perfectly safe to pull money out of ATM machines, but thieves have other ideas.

Your Odds of Being Audited by the IRS

Tax season is officially over, but the Internal Revenue Service may not be finished with you.

There is always the chance that the IRS will audit your returns.

Long Term Portfolio Planning: How Much Can You Safely Withdraw?

Financial Documents You Need to Keep

If you’re in the mood for some spring cleaning, you might be wondering if you can safely get rid of the boxes of tax documents that are stacked up in your garage or basement.

To help answer that question, here are a few guidelines on what you should keep and what you can toss:

Why 529 College Plans Are Becoming More Popular

The nation’s most popular college savings plan is about to become even more so. The popularity of the 529 college savings plan is likely to increase because the new federal tax legislation expands the ways that the accounts may be used.