My good friend Bob from Munster had a question I thought merited visiting in the column. Bob’s question involved a topic we are dealing with more and more often in ...

Converting now would enable you to spread a possible tax hit over more than one payment while reducing future taxes.

It's not an easy thing to build up a nice balance in a Roth IRA. Once you turn 59 1/2, you can take Roth IRA withdrawals ...

There used to be what you might call “backsies” or a “do-over” on converting money from a traditional IRA to a Roth. You ...

Not all money in a Roth Thrift Savings Plan account is automatically tax-free, and there are several things to consider ...

3. There’s a third rule of Roth IRA contributions: Anyone who has earned income — even a child — can open an IRA, but you can’t contribute more than you earned. So if your income is only ...

Are you planning to purchase your first home? The IRS provides a lifetime exemption of up to $10,000 in Roth IRA earnings that can be withdrawn penalty-free for a first-time home purchase. According ...

Opening a Roth IRA is a smart financial move, but it’s easy to get wrong. From skipping key setup steps to making costly investment mistakes, even well-meaning investors can sabotage their ...

Receiving compensation from a medical study may sound like income, but according to Suze Orman — and the IRS — it doesn't meet the definition of earned income needed to contribute to a Roth IRA.

Spousal IRAs are just regular Roth or traditional IRAs that are used by married couples. They are not joint accounts; each IRA is set up in the name of an individual spouse. For 2023, the use of a ...

Mel Meagher, a 37-year-old human resources manager in Brownsville, Wis., opened a Roth IRA at Vanguard in 2023, when the contribution limit was $6,500. She didn’t increase her contributions when ...