Although saving and investing for retirement looks different for everyone, the end goal is typically the same for most people ...

Forbes contributors publish independent expert analyses and insights. David Rae is a gay Financial Planner, president DRM Wealth Management.

Withdrawals in retirement (after age 59 ½) are tax-free if the account has been open for at least five years. There are no required minimum distributions (RMDs) for Roth IRAs, meaning your money ...

Here’s what you need to know. A Roth IRA is a retirement account funded with after-tax dollars, from which people usually plan to withdraw funds in retirement, or at least after the age of 59½.

The mega backdoor Roth IRA is a retirement savings strategy in which people who have 401(k) plans through their employer — ...

I have invested in a 401(k), HSA and Roth IRA. What other ways can we save on taxes? Should I turn to a ... to uncover legal strategies to employ after comprehensively reviewing your entire ...

Building a million-dollar 401(k) has become more achievable than ever. In 2024, the number of Fidelity-managed 401(k) ...

Some of the best ways to reduce taxes in retirement is to ensure you live in a lower tax bracket and use tax-advantaged ...

Legally, it’s never too late to make a Roth conversion. The IRS will let you move qualifying funds at any time as long as you can pay the resulting tax bill. For those in or near retirement ...

scheduled to sunset after 2025, many individuals are evaluating the timing for Roth conversions. When the TCJA expires, tax rates are set to revert to higher levels, which may be a reason there has ...

After all, where else can ... d also be hit with a 10% penalty. Taxes are due on funds transferred from a 401(k) in the year they are converted to a Roth IRA. Transferring funds can be complex ...

Both IRA and 401(k) plans can be structured as Roth accounts, which don’t offer a tax deduction on contributions but allow tax-free withdrawals after age 59 ½. Essentially, with a Roth account ...