roth ira

Give Your Child the Gift of a Roth IRA

You can fund a Roth IRA account for a minor anytime during the year as long as the recipient earns at least as much as your contribution by year-end.

Quiz: How Financially Literate Are You?

From taxes and credit to saving and money management, you can get lost in the complexity of financial issues. How well do you know the basics of personal finance?

His Financial Goal: Get Ahead of the High Cost of Higher Education

Everyone has things they want to improve about their financial lives -- even the staff of DailyFinance. So we asked money expert Jean Chatzky for advice on how to reach our goals, and we're sharing her answers with you. First up: An editor looking ahead to college tuition bills.

13 Money Lies You Should Stop Telling Yourself By Age 30

Age 30 has become the new benchmark for people to get their lives together, and advice on how to do that abounds. But in fact, most of us already know how to succeed: We just happen to let ourselves -- and a few convenient lies -- get in the way.

Fiscal Cliff Deal Hides a 401(k) Bonus

Buried deep in the American Taxpayer Relief act is a provision that will let a lot more workers convert their traditional 401(k) savings account into a Roth 401(k). Here's why doing that might be a good deal for you in the long term -- and why it might not.

13 Financial Resolutions for Retirees in 2013

Being retired means not having to worry about waking up early to get to work. But retiring doesn't mean its time to quit worrying about making your money work as hard as it can.

13 Financial New Year's Resolutions to Keep in 2013

When it comes to keeping New Year's resolutions, plenty of us don't have such great track records. But most people who made financial resolutions in 2012 kept them, which makes them a smart addition to your annual ritual. To set the stage for your success in 2013, here are 13 resolutions to consider.

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.

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.

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?

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.