Follow these detailed step-by-step instructions with clear explanation and many screenshots when you report your Backdoor Roth in TurboTax.
This article was inspired by a post made by Kevin M on the Bogleheads forum. You may have heard of this rule of thumb about retirement savings priorities: Contribute to 401k (or 403b) to get the full employer match Maximize Roth IRA Maximize 401k (or 403b) Invest in taxable account Kevin asked why a Roth […]
The IRS has new RMD tables effective January 1, 2022 but they are hard to find. See how much you are required to withdraw from your IRAs in 2022.
401k/403b/457 contribution limits will go up in 2022. Traditional and Roth IRA contribution limits will stay in the same.
If your kids work, seize the opportunity to open a custodial Roth IRA for them. See how to do it at Vanguard, Fidelity, and Charles Schwab.
401k and IRA contribution limits are adjusted for both inflation and deflation. If we have bad enough deflation, the limits can go lower.
Transferring part of an IRA from a broker to a credit union for a CD is easier than you think. My transfer completed in a little over a week.
Charles Schwab and Fidelity made it really fast and easy to rollover a 401k to an IRA. The whole process completed in only two days.
Fidelity Freedom Index Funds offer deposit-and-forget convenience with low cost, broad diversification, and automatic rebalancing.
Schwab has two sets of target date funds. Look for the word Index in the name.
If you accidentally contributed to the wrong IRA at Vanguard, you can follow these steps to recharacterize the contribution.
A graphical illustration for what happens when you recharacterize an IRA contribution or conversion.