Tag: financial advisor
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Ask an Advisor: I’m Going to Do a Roth Conversion on $250k. Can I Use the Converted Funds to Cover the Taxes?
I want to do a Roth conversion from my traditional IRA in the amount of $250,000. It’s my understanding that I have to pay...
Schwab’s Secret to Doubling Your Retirement Fund
Recent data from Charles Schwab indicates that retirement plan participants who work with a financial advisor can nearly double the amount they save for...
Morningstar Gives the 4% Rule a Thumbs Up – Can You Trust It for Your Retirement?
There’s been an ongoing debate about whether retirees should abandon the “4% rule” for withdrawals from retirement accounts, a retirement income rule of thumb...
Want to Minimize Retirement Taxes? Don’t Follow This Popular Strategy
Aside from drawing down tax-deferred accounts before claiming Social Security, one way to sidestep this “tax torpedo” is by having Roth assets.Remember, for someone...
Is It Smart to Shift to Roth Contributions at 62 with $1.6 Million Saved?
Imagine that you’re 62 years old and married with $1.6 million in 401(k)s that you’re still contributing to. Should you stop all pre-tax contributions...