High inflation in 2022 has increased income limits and contribution amounts for IRAs and 401(k)s as … [+] well as other retirement plans in 2022 (Photo Illustration by Scott Olson/Getty Images) ...
Tag: roth ira
Is It Better Save Or Invest Right Now?
| Getty Images Key Takeaways Savings account rates always tend to lag behind borrowing rates, but the gap is particularly wide in 2022. Savings accounts aren’t yielding impressive returns and are losi...
401(k) And Other Retirement Savings Limits Will Jump Record Amounts In 2023
Young workers will be allowed to contribute up to $22,500 pretax to a 401(k) in 2023, while those 50 and older will be able to sock away $30,000. getty The Internal Revenue Service announced today tha...
Your Grandkids’ Education And Your Retirement: Can You Fund Both?
Grandfather and his grandkids getty Adequately funding your retirement should be your first priority, but what if you also want to contribute to your grandkids’ education? We asked Larry Mathis, CEO o...
We Have $1,057,213 At Our Credit Union. Anything Wrong With That?
A case study in how two retirees can improve their lot in life by rethinking their savings. Bank run (FPG/Hulton Archive) Getty Images “My wife and I are 61 years old and retired. We live on a modest ...
What’s The Cheapest Way To Help Adult Children?
You could cash in a pretax IRA, a Roth IRA or a highly appreciated stock. One strategy might be much better than the others. Assets getty We want to make a sizeable gift to our children—daughters in t...
Which Of These Two Tax Tricks Is Better For A Retiree?
In a low-bracket year you could have either a long-term gain or a Roth conversion. One will save you more money. Delaware Senator William Roth (1921-2003), fan of post-tax IRAs (Photo by Wally McNamee...