Everyone's situation is a little different, but unless you expect your tax bracket to drop in the future, I would say that for most people with a choice, the long-term benefits of the Roth IRA override the short-term tax deduction of the traditional IRA.
Risk management is regarded as an essential element of modern investment management. But few people recognize that retirement -- the period when a person stops working and begins to decumulate their assets -- has now become the riskiest stage of a person's entire financial life.
Salter says people get credit for their age by waiting, but with lower interest rates and compounding growth, it makes more sense to take it today than wait for an uncertain future.
Thanks to a soaring dollar and a collapsing euro, retirement in Europe is a more affordable and therefore a more realistic idea than it's been in nearly two decades. In particular, one usually overlooked corner of Europe deserves your attention right now.
It's easy to feel confused by all the healthy aging advice out there. Wine is good for you. Wine is bad for you. Take calcium supplements. Don't take calcium supplements. At times, it seems like the 'experts' really don't know what they're talking about.
There are actually two different kinds of Social Security claiming strategies that can provide retirees a big lump-sum benefit, but you need to be past full retirement age to be eligible, and there are financial drawbacks you need to be aware of too.
As you ponder what to do with your own tax refund, or how to pay less next year, now is a great time to make sure that your dough will get to your kids without them paying half (or more) to Uncle Sam in income taxes.
As we write this, in March of 2015, the economy is improving in the U.S. The dollar is stronger than ever. That means now is the time to take those powerful dollars abroad ... especially to regions where the dollar buys more today than ever before.
Retirement can be a challenging time, especially when you live far away from your family. Many people also struggle with finding new friends once they leave the jobs that have given their lives meaning for decades. The good news is that we don't have to accept loneliness in retirement!
As part of the spring cleaning of your money house, let your mantra be, "I'm going to stop making everybody else rich, and start living a rich and sustainable life here and now!" Below are 10 ways to put more dough in your wallet.
With 401(k)-type plans, participants are supposed to build up savings through stock market investing during their working years that will then support them during their retirement years.
I watched my 96-year-old mother as she napped in the comfortable nursing home. I couldn't help but think of how long she, as a grade school teacher, and my father, as a municipal worker, had worked, sacrificed and saved for their retirement.
Think ahead a few years or even a decade or two, perhaps. You will be 60, 65, 70, or maybe older. Company pensions will be a thing of the past and 401(k) plans will have not fulfilled their promise as savings vehicles to support you through a comfortable retirement. Will you be ready?
That's why I count myself lucky to still have a hero in Loretto "Lou" Szucs, and I'm far from alone. Within the genealogical world, Lou is loved and respected by all and has been for decades. Today, she is retiring as Vice President of Community Relations of Ancestry.com.
Starting a business is a risk at any age, to be sure. But the statistics support the notion that older entrepreneurs are more confident about launching and sustaining businesses than younger entrepreneurs.