roth ira

IRS to Modify IRA Rollover Rules

by Michael on Mar 27, 2014

In the past, the IRS limited you to one IRA rollover per year per account. But, thanks to the Tax Court’s recent ruling in Bobrow vs. Commissioner, that will be changing. Indeed, as of next year, you will be allowed just one IRA rollover per year. Period. This change was […]

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If you’re in a lower tax bracket and have been looking for a good reason to get off your butt and start saving for retirement, here it is… In short, you may be eligible for a tax credit that offsets as much as 50% of your traditional or Roth IRA, […]

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The big news this week was President Obama’s announcement of the forthcoming availability of so-called myRA retirement accounts. As we’ve discussed, the myRA is essentially a Roth IRA wrapped around a savings bond that will pay out at the same rate as the federal Thrift Savings Plan (TSP) G Fund. […]

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Roth IRA Income Limits for 2013/2014

by Michael on Jan 29, 2014

As a followup to my earlier posts on IRA contribution limits and the income limits for traditional IRA deductions… I thought I’d highlight the income limits for making Roth IRA contributions. As you’re likely aware, not everyone can contribute to a Roth IRA. Rather, depending on your modified adjusted gross […]

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What the Heck is a myRA?

by Michael on Jan 28, 2014

Here’s an interesting tidbit from President Obama’s State of the Union address: “[T]omorrow, I will direct the Treasury to create a new way for working Americans to start their own retirement savings: myRA. It’s a new savings bond that encourages folks to build a nest egg. myRA guarantees a decent […]

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Setting Financial Goals for 2014

by Michael on Jan 1, 2014

Welcome to 2014! I’m not sure about you, but we don’t have any major, life-changing resolutions for the year ahead. That said… We do have some financial goals for the next 12 months. What sort of goals? Since we don’t have any debt, we’re primarily focused on our investment accounts.

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As we chug through November, I want to continue looking ahead to 2014. So let’s talk a bit about IRA contribution limits. According to the IRS, the 2014 contribution limits for traditional and Roth IRAs will remain unchanged from 2013 levels. That means you can contribut a max of $5,500/year […]

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Putting a Cap on Retirement Accounts?

by Michael on Apr 12, 2013 · 3 comments

One of the big pieces of news out of President Obama’s budget proposal was a proposed cap on retirement accounts. You may have heard rumblings about this in the form of a possible $3M limit on balances across all of your retirement accounts. Today I want to shed a bit […]

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