Roth IRA

Is Social Security Income?

Retirement
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Here’s a question about Social Security that I came across not too long ago: I’m in my 60′s and am receiving Social Security every month.  How much, if any, can I still contribute to my Roth IRA? In other words, the question is  – Is Social Security income?  Or more specifically, is it earned income.  [...]

What is Diversification

Investing
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What is diversification? Merriam Webster defines it as giving variety to something. Variety is good.  It’s good in life, in business, and particularly with our savings. The idea of diversifying has been around a long time. With today’s market volatility, it’s increasingly important to answer the question – what is diversification – through the use [...]

How To Take Advantage of Roth IRA Tax Benefits

IRAs
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We all know that saving money is really the key to building long-term wealth.  Just this week, I was reading an article by Mark Cuban, discussing how to create real wealth.  Right now Mark Cuban is a really happy guy.  He is the outspoken, charismatic owner of the Dallas Mavericks, and if you weren’t aware, [...]

4 Factors to Consider Before Doing a Roth IRA Conversion

IRAs

So we are about halfway through 2010!  Hard to believe isn’t it? Although some of the buzz has seemingly died down about the year of the Roth IRA Conversion, there is still some controversy regarding whether folks should convert their Traditional IRAs to a Roth. For those of you wondering what exactly is a Roth IRA,  Well, here are the [...]

IRA Withdrawal Rules – When Can You Withdraw Your IRA?

IRAs
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For some reason I get this question a lot, so I thought I’d provide a little clarification on IRA withdrawal rules. Individual Retirement Arrangements or IRAs were designed to provide an opportunity for folks to save for retirement on a pre-tax, tax-deferred basis.  In other words, the money grows without having to pay any taxes on [...]

5 Things Every Baby Boomer Must Know About Retirement Savings

401ks
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According to Wikipedia, Baby Boomers are those who are born between 1946-1964 – meaning they range in age from 46-64 years of age. Retirement is certainly on their minds and they are concerned about how much they need for retirement savings. As baby boomers approach the magical age, there are some pretty important things to [...]

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