Category Archive: Retirement Savings

A self-directed Roth IRA is much like a regular Roth IRA, but offers more flexibility as far as what you can invest in. Whereas a regular Roth will only let you invest in stocks, bonds, mutual funds, ETFs, and real-estate investment trusts, a self-directed Roth lets you invest in a greater variety of investment options.  […]

Most people know they have to plan for retirement, but it seems so overwhelming and there are so many places to put your money that many people put off doing anything. However, it’s crucial to save for retirement because Social Security benefits alone are probably not going to provide for a comfortable retirement. IUL and […]

If the thought of paying taxes on money in retirement makes you nervous, (who knows what the tax rate will be by then?) consider a Roth IRA. You’ll invest with after-tax money, so when you go to withdraw it, it’ll be tax-free. It’s also a good option if you think you’ll earn more money over […]

Funding retirement is an age-old question many people wrestle with for decades before they actually retire. How much will be enough? Should I invest all my money in IRA’s or 401(k)’s? What about the stock market? An investment strategy that some people fail to consider is the IUL or Indexed Universal Life Insurance. What is […]

If you are a savvy investor, you might feel a little limited by the traditional IRA’s or Roth IRA’s. Those retirement accounts only allow you to invest in stocks, bonds, and mutual funds. If you’re interested in investing in things like cryptocurrency or precious metals, you’ll have to consider other opportunities and that’s where self-directed […]

Retiring at age 55 is nearly ideal. You’ve put plenty of time into a career, and you have numerous achievements and accolades under your belt. On the other hand, you’re still young enough to enjoy life. You can travel, engage in new hobbies, and visit friends and family, all without the health issues that can […]

If you’re a high income earner, or just someone who wants to put away more money for retirement than the IRS thinks you should, you might want to look into a backdoor Roth IRA. This is a legal way to skirt some of the rules around Roth IRA’s so that you can take advantage of […]

As you enter your fifth decade of life, you are probably putting much more thought into retirement and how to make that happen. If you haven’t put much effort into saving for retirement by this age, you still have time to prepare.  These days most people are expected to retire at or around the age […]

A gold Roth IRA is just what is sounds like—you’re investing part of your retirement account in gold. You can also invest in platinum, silver, or palladium (palladium is a precious metal, often used in fuel cells). How you feel about a gold Roth IRA is greatly dependent on your stance on investing in precious […]

You’re probably familiar with traditional IRA’s and Roth IRA’s. You have a 401(k) with employer matching. If you’re a high income earner, you have probably heard of a backdoor Roth IRA, since income limits prevent you from contributing to a Roth if you’re income is high enough. But what is a mega backdoor IRA? What […]

A Roth IRA is an Individual Retirement Account that you fund with after-tax dollars. Because you already paid taxes on this money, it’s tax-free when you withdraw it. That makes it a little different than a traditional IRA, which is also an individual retirement account. However, in a traditional IRA, you invest pre-tax dollars in […]

Funding your retirement is often confusing and complex. Where to put your money so that you enjoy a good rate of return, but have the least amount of taxes and fees to pay? Also, what happens if you really need the money you set aside? What if you want to retire early? A Roth IRA […]

MorningStar is an investment research company. It’s considered one of the most influential investment research companies in the world. MorningStar prides itself of giving its investors great advice. They grew from a startup to a globally recognized investment research firm in 35 years. Joe Mansueto started the company because he thought it was unfair that […]

So, you’re looking at the big Four-Oh this year and it suddenly dawns on you that you’re getting older. You are one decade closer to retirement and don’t have any money set aside. In the United States, the typical retirement age is about 67 years old, so you still have 27 years left to start […]

Many people start to think more seriously about their financial future when they enter their 30s, and this is the time to start saving money for retirement. In fact, Fidelity Investments has a rule of thumb stating that people should have saved up about 1X their annual salary by the age of 30 years old.   […]

If you’re thinking about retirement when you’re in your ‘20’s, you are a planner. You should be congratulated, because starting to save now, while you’re young, gives you a lot of advantages over those who wait. Those who start saving earlier will be more likely to enjoy a comfortable retirement and the younger you start, […]

Saving for retirement is a very important task that each of us should take seriously. The simple question we often wonder is how much I need to save monthly to ensure that we will have enough money to support our comfortable life in retirement years. Unfortunately, the answer isn’t as simple. Each of us might […]

We often wonder how much retirement income we will have when we retire and where the income comes from. Here is a calculator which helps you calculate how much retirement income you will have when you retire; where the income comes from; and what you can do increase your retirement income. You can increase your […]

Regardless how old we are, we all should start saving for retirement. Saving for retirement will take a long time to accumulate sufficient fund to support us with a comfortable life in retirement years. “How much retirement savings I will have when I retire” is a common question people usually have. The oversimplified answers to […]

To support your comfortable living in your retirement years, you have probably figured out how much monthly income you will need when you retire. If you have not, common advice suggests that you will need 70-80% of the income you have prior to retirement. Since it is uncertain to know for sure how long you […]

There were significant changes to the tax laws in 2019, but you still may not be able to contribute enough money to an IRA to provide a comfortable retirement income if you are a high-income earner. How can those with high income save enough for retirement without paying a significant chunk of it to Uncle […]

If you live in Canada, you should take advantage of a TFSA, or tax-free savings account. It’s not really a savings account, but rather an investment account. You can invest in stocks, bonds, EFT’s and cash. You invest your after-tax income in the account, and then withdrawals are tax-free.  If you live in the United […]