IRAs

If you intend to be in a lower tax bracket when you retire, you’re better off with a conventional. If you plan to be in the same or higher tax bracket when you retire, a Roth IRA may be a better option, as it allows you to settle your tax obligation sooner rather than later. […]

The most significant distinction between a Roth and a standard IRA is how and when you receive a tax benefit. Traditional IRA contributions are tax deductible, but withdrawals after retirement are taxed. Contributions to Roth IRAs, on the other hand, are not tax deductible, but withdrawals in retirement are tax-free. Is it better to do

If you expect to have a better income in retirement than you do today, a Roth IRA or 401(k) is the best option. A traditional IRA or 401(k) is likely the better bet if you expect your income (and tax rate) to be lower in retirement than it is now. A traditional IRA allows you

You are entirely correct. You will not receive a 1099-R if you did not take out a distribution or perform a rollover. (A rollover is required to be reported even if it is not taxable.) However, if no money was taken out, you will not receive this form. Should I receive a 1099 for my

If you expect to have a better income in retirement than you do today, a Roth IRA or 401(k) is the best option. A regular IRA or 401(k) is likely the better bet if you expect your income (and tax rate) to be lower in retirement than it is now. A typical IRA permits you

The most significant distinction between a Roth and a standard IRA is how and when you receive a tax benefit. Traditional IRA contributions are tax deductible, but withdrawals after retirement are taxed. Contributions to Roth IRAs, on the other hand, are not tax deductible, but withdrawals in retirement are tax-free. Which is better a traditional

If you expect to have a better income in retirement than you do today, a Roth IRA or 401(k) is the best option. A regular IRA or 401(k) is likely the better bet if you expect your income (and tax rate) to be lower in retirement than it is now. A typical IRA permits you

While a 401(k) or other employer-sponsored retirement plan can serve as the foundation of your retirement savings, an IRA can also be beneficial. Can you contribute to an IRA if you have a 401k? Yes, you can contribute to both a 401(k) and an IRA, but if your income exceeds the IRS limits, you may

If you expect to have a better income in retirement than you do today, a Roth IRA or 401(k) is the best option. A regular IRA or 401(k) is likely the better bet if you expect your income (and tax rate) to be lower in retirement than it is now. A typical IRA permits you

In many circumstances, a Roth IRA is a better option than a 401(k) retirement plan because it provides a more flexible investment vehicle with more tax advantages—especially if you expect to be in a higher tax band in the future. A 401(k) is hard to beat if your income is too high to contribute to