IRAs

Converting a 401(k) or regular IRA to a Roth IRA is a straightforward process. In fact, it’s so simple that you might cause difficulties without even realizing it. To convert your retirement account to a Roth IRA, follow these three simple steps: Make a Roth IRA contribution. A Roth IRA account must be opened with […]

An online broker can help you open a Roth IRA and then let you choose your own investments. You can establish a diverse portfolio with just three or four mutual funds, which may be easier than you think. Examine trade commissions and investment costs while comparing brokers (also called expense ratios). How do I know

When picking between a regular and Roth IRA, one of the most important factors to consider is how your future income (and, by implication, your income tax bracket) will compare to your current circumstances. In effect, you must evaluate whether the tax rate you pay today on Roth IRA contributions will be more or lower

Individual securities, such as stocks, bonds, certificates of deposit (CDs), exchange-traded funds (ETFs), or a “single-fund” alternative, are available in IRAs. However, before you choose which investments to make, think about how you want to handle them: You have the option of hiring a professional or doing the work yourself. Can you choose how your

Individual securities, such as stocks, bonds, certificates of deposit (CDs), exchange-traded funds (ETFs), or a “single-fund” alternative, are available in IRAs. However, before you choose which investments to make, think about how you want to handle them: You have the option of hiring a professional or doing the work yourself. Can you choose how your

2. Think about where you want to put your money. Do you wish to invest in exchange-traded funds (ETFs) and mutual funds? Do you want to hire someone to draft an investment strategy for you? A brokerage account may be your best bet if you’re looking for investments that don’t come with fees or commissions.

The “responsible party” in a retirement plan is the individual who has direct or indirect responsibility over the cash or assets in the retirement plan. A full description of “responsible party” and an explanation of who must sign the form can be found on page 2 of the instructions for Form 8822-B. a $10 or

There are a few options for closing your account. Calling Fidelity directly at 1-800-343-3548 is the most efficient method. You can chat with a person who will walk you through the account closure process. How do I close my Fidelity 401k account? Your 401(k) is your money, and withdrawing it is as simple as calling

Complete the closing papers, sign it, and return it to the bank along with any fees due. Should I close my rollover IRA? If you have a critical need for the money in your IRA, regardless of other considerations, that may be the best moment to close it. Your IRA contributions and earnings are your

First, you must have held a Roth IRA for at least five years to avoid both income taxes and the 10% early withdrawal penalty. This requirement is met if it has been five years since you made a contribution to any Roth IRA, not just the one you intend to access. (There is, however, one