If you’ll soon retire — or recently have — market volatility may feel especially unsettling. At this point in your life, market downturns can have an outsized impact on your financial security. For instance, could you stay retired if the value of your portfolio dropped by 20% tomorrow and stayed there for a while? Now is a good time to stress-test your retirement income. … [Read more...]
What should you do with your tax refund?
It’s that time of year when tax refunds go out. If you get a refund this year, how can you make the best use of it? For starters, you could use your refund to help fund your IRA. You still have until April 15 to contribute to your IRA for the 2025 tax year, but if you’ve already put in the full amount, you can begin on 2026 contributions. If you have children or … [Read more...]
When is a good time for a Roth conversion?
A Roth IRA provides tax-free withdrawals, provided you’ve had the account at least five years and you’re at least 59½. A Roth’s income limits may have kept you from contributing. However, you can convert your traditional IRA to a Roth. It’s not hard to do, but there’s a catch — you’ll have to pay taxes on the pre-tax dollars you convert. To help avoid a big tax bill, you … [Read more...]