What is a Roth IRA? A Roth IRA is an individual retirement account in which money grows tax-free; Roth IRA withdrawals in retirement are also tax-free. Savers at least 59½ years old and who hold their…
Browsing Category Investment
Emergency Savings Gains Further Importance During the Pandemic
33% of all adults in the US have no Emergency Savings. Do you belong to that camp? Only 23% of Americans have emergency fund savings of 6 months or more. For many Americans, setting up…
What is a Backdoor Roth IRA?
If you are above the income limits for a Roth IRA don’t assume that you are restricted from opening one. The Backdoor Roth IRA is a tax loophole that allows anyone to open a Roth…
9 Tips to Maximize Retirement Contributions
Retirement is one of the biggest, most common and most talked about goals that people have. After all, your retirement savings determine how comfortably you’ll live in retirement and whether your money will outlast you….
HSA Contribution Limits 2020
The average couple retiring today at the age of 65 will need close to a whopping $300,000 to cover health care and medical expenses in retirement, according to an estimate by Fidelity, assuming lifespans of…
Maximum 401k Contribution Limits for 2020
The IRS announced on Nov 6, 2019 that employees in 401(k) plans will be able to contribute up to $19,500 in 2020 up from $19,000 in 2019. The catch-up contribution limit for employees aged 50…