Mark Henricks

Transferring funds from a 401(k) to a Roth IRA can help a retirement saver control the timing and, potentially, the amount of their future tax liability. In general, if your applicable income tax rate is likely to be higher after retirement, a Roth conversion can make sense. That's because Roth accounts aren't subject to mandatory […] The post I’m 58 With $1.4 Million in My 401(k). Should I Convert $140k per Year to Avoid RMDs and Taxes in Retirement? appeared first on SmartReads by SmartAsset.

SmartAsset and Yahoo Finance LLC may earn commission or revenue through links in the content below.

Roth IRAs are not subject to rules on required minimum distributions (RMDs), and qualifying withdrawals from Roth accounts in retirement are also free of federal income taxes. You can get those advantages for funds in your traditional IRA by transferring them into a Roth account. You'll have to pay income taxes now on funds you […] The post Is It Wise to Convert 10% of My IRA into a Roth Each Year to Avoid Taxes and RMDs? appeared first on SmartReads by SmartAsset.

When faced with the decision of taking a lump sum pension payout or receiving monthly annuity payments, your course of action will depend on your individual circumstances. Key factors include your life expectancy, others sources of income and how soon you will be paid the lump sum. Speak with a financial advisor before making significant […] The post Should I Take a $78,000 Lump Sum or $650 Monthly Annuity Payments? appeared first on SmartReads by SmartAsset.

If you are a current or former public sector employee or a survivor, spouse or ex-spouse of someone like that, you may receive more from Social Security as a result of new federal legislation. The Social Security Fairness Act repeals two federal laws that for decades have reduced or eliminated Social Security benefits for some people who had pensions and worked in jobs that didn't pay into Social Security at some point in their careers. As a result, millions of recipients could get an average of $360 more per month for life.

The Social Security Fairness Act repeals two federal laws that for decades have reduced or eliminated Social Security benefits for some

Fixed-income investments are a cornerstone of many long-term financial strategies, offering stability and a steady stream of income. They are often associated with conservative approaches, but can play a useful role in a variety of investment styles, especially when markets are volatile. Using fixed-income investments as part of a long-term vision can help you build a strategy aimed at preserving capital and maintaining returns. Long-term fixed income investments can provide a foundation for financial stability when interest rates and economic conditions fluctuate.

Compared to many retirees, you are in an enviable position with $1 million socked away in your IRA at 70. Still, living a secure, comfortable retirement that can last two decades or more takes planning. Making sure your nest egg lasts requires assessing your personal situation, balancing risk, securing reliable income streams and understanding how […] The post I’m 70 With $1 Million in an IRA. How Do I Make Sure This Money Lasts the Rest of My Life? appeared first on SmartReads by SmartAsset.

There is no legal or regulatory age restriction on Roth conversions, so it's not too late in that sense. Generally speaking, a Roth conversion may make more sense for a younger saver. However, there are a number of other considerations that may be more important to keep in mind. For instance, unless you are likely […] The post I’m 60 With $930k in My IRA and Have Started Social Security. Is It Too Late for a Roth Conversion? appeared first on SmartReads by SmartAsset.

Tariffs can have far-reaching effects on exchange rates and currencies and these impacts can influence trade dynamics and economic stability. For investors, understanding whether tariffs favor stronger or weaker currencies is essential for navigating the complexities of global markets. While tariffs may strengthen a currency by improving trade balances, they can also introduce risks such as inflation and economic slowdowns. Staying informed about tariff policies and their implications can help you make informed investment decisions and adapt to changing market conditions.