At 64, Robin is retired with a healthy $700,000 nest egg. On paper, she should feel secure. Yet instead of enjoying her days, she finds herself opening her retirement account app five times a day, watching the balance tick up and down with the market. Each dip sparks anxiety: What if I run out? What…
The stock market can feel like a roller coaster — thrilling on the way up and terrifying on the way down. If you’re staring at headlines predicting a crash, it’s natural to worry about your portfolio. After all, no one wants to see their hard-earned retirement savings evaporate overnight. You might be asking yourself if…
©Shutterstock.com It seems like for just about everything we do, there’s an app for it. Messaging, social media, gaming and more — you name it, and you’re probably using an app. However, when it comes to tasks like mobile banking and personal finance management especially, mobile app usage today is on the rise. I’m a…
In a previous article about Roth conversions, an advisor wrote: “For many folks, a prime time for Roth conversions takes place during the years after retirement but before Social Security and RMDs kick in. Those can be relatively low-income years during which initiating a conversion can result in a triple benefit. Those benefits are: lower…
Warren Buffett is among the greatest investors of all time. His company, Berkshire Hathaway, has returned around 20 percent annually since Buffett took over in the 1960s, trouncing the S&P 500’s annual return over that time period. In 2024, Buffett has sold shares in some longtime holdings, such as Apple and Bank of America. The…
SmartAsset and Yahoo Finance LLC may earn commission or revenue through links in the content below. 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, the bigger…
Taxes can be a big concern in retirement because no matter how well you’ve saved and invested during your working years your challenge is to keep as much of it as possible. That means structuring your finances, withdrawals and income in a way that minimizes how much you fork over to the IRS. Take Social…
If you’re saving for retirement, a broad market index portfolio is typically a good option. Investing in a target date fund or S&P 500 index fund, for instance, are low-cost ways to gain broad market exposure. However, newly published research indicates there may be a significantly more lucrative way to handle your nest egg. An…
Pop quiz: True or False – Social Security retirement benefits are subject to income tax just like withdrawals from a traditional IRA account. If you answered “False,” you’re smarter than more than 60% of your fellow Americans nearing retirement. In fact, if you know just about anything about how Social Security works, you’re very likely…
SmartAsset and Yahoo Finance LLC may earn commission or revenue through links in the content below. Because Medicare premiums are tied to income, converting a $235,000 retirement account to a Roth IRA has the potential to cause Medicare Part B premiums to increase. For many taxpayers, in fact, a single-year conversion of that magnitude could…