You want to retire comfortably when the time comes. You also want to help your child go to college. So how do you juggle the two? The truth is, saving for your retirement and your child's education at the same time can be a challenge.
At some point, you'll probably want to buy a home, a car, maybe even that yacht that you've always wanted. Although they're hardly impulse items, large purchases often have a shorter time frame than other financial goals; one to five years is common.
A recharacterization is an election to change the nature of your IRA contribution. The opportunity to recharacterize a contribution from one IRA to another type is designed to help taxpayers who change their minds or are ineligible for one type of IRA.
Certain retirement plan and IRA limits are indexed for inflation each year, but only some of the limits eligible for a cost-of-living adjustment (COLA) have increased for 2019.
When a single stock dominates your portfolio, selling the stock may be complicated by more than just the associated tax consequences.
A 401(k) in-plan Roth conversion allows you to transfer the non-Roth portion of your 401(k) account into a designated Roth account within the same plan. The amount you convert is subject to federal income tax in the year of the conversion
The first step in your year-end investment planning process should be a review of your overall portfolio. That review can tell you whether you need to rebalance.
Whether you're investing for retirement, college, or another financial goal, your overall objective is to maximize returns without taking on more risk than you can bear.
You probably already know you need to monitor your investment portfolio and update it periodically. Even if you've chosen an asset allocation, market forces may quickly begin to tweak it.
