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'The single greatest account for Americans to own': The Roth IRA tops all others according to this expert

Less than 25% of U.S. households own one.

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'The single greatest account for Americans to own': One expert says this retirement vehicle tops all others. But are you ready to pay the price?

Less than 25% of U.S. households own one.

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3 last-minute tax moves for retirement savers

While most tax-saving moves had to be wrapped up by Dec. 31 to count for your 2023 return, here are three smart actions you can still take before the filing deadline on April 15.

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Ask an Advisor: I'm 60 With $65k in Pension Income and $100k in My IRA. Is a Roth Conversion Worth It?

I'm 60 and I would like to convert some money from my regular IRA to a Roth. I'm aware that the earnings are subject to penalty before five years but I won't need that money until at least age 70. Is it advisable to do so? My annual income from a pension is $65,000 and […] The post Ask an Advisor: I'm 60 With $65k in Pension Income and $100k in My IRA. Is a Roth Conversion Worth It? appeared first on SmartReads by SmartAsset.

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3 Secrets of IRA Millionaires

The game plan to retire rich is astoundingly simple.

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We're 62 Years Old With $950k in IRAs. Is It Too Late to Convert to a Roth IRA?

Fortunately, there’s no age restriction on converting a pre-tax retirement account to a Roth IRA. You can roll funds from a qualifying pre-tax account to a Roth IRA at any time. A financial advisor can help you manage your retirement savings and build an income plan for your golden years. Connect with a fiduciary advisor […] The post We’re 62 Years Old With $950k in IRAs. Is It Too Late to Convert to a Roth IRA? appeared first on SmartReads by SmartAsset.

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Can I Buy A Rental Property With My IRA?

Investing in rental property using an individual retirement account (IRA) is a strategy that savvy investors can use to diversify their portfolios and benefit from real estate's potential for high returns. While traditional IRAs typically limit investments to stocks, bonds and mutual funds, self-directed IRAs (SDIRAs) offer the flexibility to invest in rental properties. Understanding SDIRAs For Real Estate Investments SDIRAs allow you to invest in almost any asset, including real estate. It's e

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How Maximizing Retirement Contributions Can Save You in Taxes in 2024

As we head into 2024, it's a good time to review your retirement saving strategy. In addition to evaluating your investments -- and bumping up your contribution rate -- it's important to think of the...

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How to Reduce Your Tax Liability on a Roth IRA Conversion

Converting your current retirement accounts to a Roth IRA is typically a very tax-efficient strategy. It can help lower your lifetime taxes significantly. However it does come with a large up-front bill. While there's no way to avoid conversion taxes completely, you can restructure them to make this much more manageable. By staggering out your […] The post How to Reduce Your Tax Liability on a Roth IRA Conversion appeared first on SmartReads by SmartAsset.

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I'm Over 70. What Are the Rules for Cashing Out My IRA?

As you age, the rules for withdrawing money from your IRA change. For many years, retirees had to start withdrawing money after age 70 1/2. Under new rules, you must start taking required minimum distributions (RMDs) every year after age 73, or face steep IRS penalties. While the specifics can get complicated, the basics boil […] The post Rules for Cashing Out Your IRA After Age 70 appeared first on SmartReads by SmartAsset.

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