Why You Should Consider A Roth IRA

Why You Should Consider A Roth IRA

Participating in your company 401(k) or similar plan (i.e., 403b, SIMPLE IRA, 457) is a great way to save for retirement. You can make significant contributions while deferring taxes until retirement. Although these accounts are useful for retirement savings, there are additional ways to save for retirement. Topping my list is the Roth IRA. Here are five reasons why you should consider a Roth IRA:

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3 Reasons Why You Should Rollover Your 401(k)

3 Reasons Why You Should Rollover Your 401(k)

If you contribute to a 401(k) or other employer-sponsored retirement plans (403b, SIMPLE IRA, 457, etc.), you are eligible to rollover those funds to an IRA when you leave that employer. Rolling over a 401(k) to an IRA is a seamless process with distinct benefits. Here are my top three reasons why you should rollover your 401(k) when you leave your employer:

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2019 Tax Planning: 3 Things to Consider

2019 Tax Planning: 3 Things to Consider

For the first time since 2013, the amount you can contribute into an IRA is increasing, from $5,500 to $6,000 ($7,000 if age 50 or older). The 401k contribution limit is increasing as well. The amount of pay you can defer into your 401k plan goes up from $18,500 to $19,000 ($25,000 if 50 or older). This chart details the 2019 contribution limits for various accounts, as well as the gift and estate tax exclusions. Take a look:

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401k And IRA Contribution Limits For 2019

For the first time since 2013, the amount you can contribute into an IRA is increasing, from $5,500 to $6,000 ($7,000 if age 50 or older). The 401k contribution limit is increasing as well. The amount of pay you can defer into your 401k plan goes up from $18,500 to $19,000 ($25,000 if 50 or older). This chart details the 2019 contribution limits for various accounts, as well as the gift and estate tax exclusions. Take a look:

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