PeopleImages / Getty Images/iStockphoto For decades, retirement has been thought of as something workers do once they turn 65 or so. The Social Security Administration played a role in this, as it kept “full retirement age” at 65 for decades until it started inching higher to its current 67 for those born in 1960 or…
Petar Chernaev / iStock.com On the surface, Tori Dunlap isn’t exactly who most people would envision as a multi-millionaire. For one thing, she’s young. In fact, she achieved multi-millionaire status by the time she was just 27 years old. She’s also committed to exploring the social justice aspects of money, especially how building wealth can…
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…
I have an after-tax 401(k) that I would like to roll over to a Roth IRA with Schwab. Experts at Schwab say it can be rolled over to a Roth IRA without paying any taxes. I think they are wrong as I will still have to pay taxes on the earnings and capital gains accumulated…
Deciding between a traditional individual retirement account (IRA) and a Roth IRA can be difficult. Choosing when or if you should convert your IRA funds to a Roth account can be even more daunting. Experts commonly recommend that investors compare their current and future marginal tax rates to decide, but future tax rates can be…