Brandon Renfro

Although everyone is different from a tax bracket standpoint, at what tax bracket does it makes sense to start converting your 401(k) into a Roth 401(k) and pay the taxes upfront?

I’m in my mid-70s and I’m considering purchasing an immediate single premium lifetime annuity for myself using a portion of my regular IRA account as the source of the premium I would be paying. Having been notified of my 2024 RMD based on the Dec. 31, 2023, balance (assume the RMD is $50,000), do the […] The post Ask an Advisor: Will $25k in Annuity Payments Cut My $50k RMD in Half? appeared first on SmartReads by SmartAsset.

What if a husband and wife own a home together that increases in value by $500,000. When one spouse dies and the other owns the property themselves, do they receive a step-up in basis?

Brandon Renfro, CFP® 6 min read I am 60 years old, married, with no mortgage.

-Terry $90,000 per year is going to be pushing the upper limit of what I'd be comfortable with as a general rule.

I am 73 and my wife is 70 with one son. We have $235,000 in a savings account and we each have $250,000 in Roth IRAs. We also have $1.675 million in a brokerage account and $1.55 million in a 401(k). Everything other than the two Roths are invested solely in stocks and the two […] The post Ask an Advisor: We’re in Our 70s With Nearly $3.5 Million Invested ‘Solely in Stocks.’ Should We Switch to a 60/40 Portfolio? appeared first on SmartReads by SmartAsset.

Financial advisor and columnist Brandon Renfro Does a military pension count toward income levels for Roth contributions? – Gail

Brandon Renfro, CFP® 7 min read SmartAsset and Yahoo Finance LLC may earn commission or revenue through links in the content below.

– Peter At first blush, supporting $5,000 in monthly living expenses on $3 million seems like an easy feat.

Does your state offer an auto-IRA program? It could be a powerful tool for your retirement.