11 Easy and Great Ways to Save Money in 2013
With the prospect of higher taxes and federal budget cuts looming on Dec. 31, here are 11 easy ways you can save money and/or put a few extra dollars back in your pocket in 2013.
roth ira
Year-End Review: 6 Questions You Must Ask Your Financial Advisor
If meeting with your financial advisor is on your December "to-do" list -- and it should be -- here are a half dozen things you should do to prepare that will help you get the most out of the meeting.
Retirement Savings by Age: How Do You Compare?
How much do people have saved for retirement in their 30s? In their 40s? In their 50s? LearnVest conducted a nationwide survey to find out. Wondering how your portfolio balance stacks up? Take a look at the breakdown and find out.
How to Withdraw Retirement Funds Penalty-Free Before 59
One of the biggest challenges for early retirees, aside from needing to save enough extra money that it can last though a longer retirement, is that there are early withdrawal penalties on most pre-tax retirement accounts. Luckily, there are many ways to dodge those penalties.
Inheriting a Retirement Account? Learn the Rules or You'll Regret It
We all know how hard it can be to build up a big enough nest egg for retirement. But because many retirees leave their IRAs and 401(k)s untouched as long as possible to avoid paying taxes, you might someday face the bittersweet experience of inheriting a retirement account.
IRS Gives Your Retirement Saving a Little Boost for 2013
Saving for retirement has always been hard. But starting in 2013, the IRS is making it a little easier for you to put more money aside for your golden years. On Oct. 18, the IRS announced that it was upping the contribution limits for IRAs and 401(k) plans.
Fix This Roth IRA Mistake Before the IRS Nails You
Using Roth IRAs to save for retirement is one of the smartest moves you can make. What's not smart, however, is breaking the IRS rules governing IRAs. Fortunately, if you accidentally break the rules you can go back and fix things -- as long as you don't wait too long.
How to Pick the Juicier 401(k) Plan
Roth 401(k)s used to be fairly rare; now, they're starting to crop up by the bushelful. But while they may be the hot new investment, but the tax implications mean Roth 401(k)s aren't for everyone. To see if you'd benefit, ask yourself the following questions:
Don't Miss Your Chance for a Roth IRA Do-Over
If you converted your IRA to a Roth IRA last year, you have until Oct. 15 do what's called a recharacterization, which essentially lets you undo the conversion and get a do-over. And there may be some big tax benefits to doing that now.
Too Many 401(k) and IRA Investors Know Too Little About Their Fees
How seriously do Americans take our retirement plans? Not seriously enough to do our homework: A new study shows that two-thirds of Americans with defined-contribution plans or IRAs spend less than five minutes scrutinizing each disclosure statement. But wait: It gets worse.
Big Money, Big Risks: Should You Take a Pension Buyout Offer?
If you're one of the fortunate workers with a pension, and you're employer offers a big lump-sum payment in exchange for it, it may feel like hitting the lottery. But how you handle that offer may be the biggest money test you'll ever face.
The Big Retirement Lie
What if everything you were told about saving in your company retirement plan was bogus? What if the benefit of tax-deferred growth in your mutual fund based retirement plan was really a well-funded Wall Street marketing gimmick?
Listen Up, Ladies: Tips for Closing the Financial Gender Gap
When it comes to their finances and retirement plans, women need to be better prepared and better organized than men. But as a group, they're actually falling behind in money management and investing. Here's how to start changing that.
How to Sneak Into a Roth IRA Through the 'Back Door'
The Roth IRA is one of the best retirement vehicles around, thanks primarily to its terrific tax advantages. The only problem is that some people earn too much, and aren't qualified to contribute directly to one. Fortunately, there's a way around those restrictions.
The 5 Most Dangerous IRA Mistakes You Can Make
There may be several good reasons to withdraw funds from your IRA before 59 1/2, but be careful, because the penalties and fees can add up, writes MoneyShow personal finance expert Terry Savage.