Answers to Seven Common Social Security Questions

Here are answers to seven common questions that the Social Security Administration receives about the retirement benefit program.

Has Someone Stolen Your Child’s Identity?

We’ve all heard horror stories about consumers who have had their credit information stolen and the incredible hassle of undoing the mess.

But what you probably don’t know is that children can be the victims of identity theft too.  In fact, identity theft that targets youngsters has been on the rise.

How to Apply for Financial Aid

Financial aid season is about to begin.

Starting October 1, parents whose children will be in college for the 2019-2020 academic year will be able to fill out financial aid applications.

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.

Financial Planning for New Parents

Setting up a 529 Plan

It may seem daunting to consider college planning already with a newborn, but higher education is expensive.

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