![Jill on Money [ Archive]](http://images.squarespace-cdn.com/content/v1/59efbd48d7bdce7ee2a7d0c4/1510342916024-TI455WZNZ88VUH2XYCA6/JOM+Blue+and+White.png?format=1500w)
The Roth IRA turns twenty years old this year. The retirement vehicle was part of the Tax Relief Act of 1997 and it was seen as such a boon to savers, many believed that it would not survive. Two decades later, it is alive and well. As many Americans consider funding retirement plans this tax season, it’s a good opportunity to provide you with a Roth Q&A.
In honor of the recently-celebrated International Women's Day, guest Jennifer Landon, founder and president of Journey Financial Services, says that there are specific - and distinct - issues that women need to consider when planning for retirement. She urges them to consider "hybrid" retirement and to have contingency plans.
Shan is just getting started on his financial journey and it is the perfect time for him to take control! Poor Joe was the victim of tax identity fraud. Check out this post, if you want more information about "How to Protect Yourself Against Identity Theft" or go to FTC.gov .
Thanks to everyone who participated and to Mark, the BEST producer in the world. If you have a financial question, there are lots of ways to contact us:
Bruce kicked off the show with a discussion about how to manage his "fun money" account in conjunction with his advisor-directed funds. One idea is to let the pro do what he or she does best and then you can use the secondary account to fill in the asset allocation gaps.
Cheryl asked about whether her fee for investment advice was reasonable; Wayne is trying to manage his retirement assets after recently getting married and both Sandra and Mike are juggling competing financial goals after the birth of their children.
Thanks to everyone who participated and to Mark, the BEST producer in the world. If you have a financial question, there are lots of ways to contact us:
As we say goodbye (and good riddance!) to February, there were lots of questions about tax preparation, Required Minimum Distributions and whether or not to use target date funds. Thanks so much to Peter, Mike and Lisa, all of who offered extra information for our listeners!
Here was the CBS This Morning segment, where we celebrated America Saves Week and in case you missed it, President Obama dropped the F-Word last week!
Not that one, but he endorsed a Department of Labor proposal, which would require brokers to act in a customer’s best interest—the so-called FIDUCIARY duty—when working with retirement investors. We talk a lot about fiduciaries on the show, so we'll be keeping you posted on what happens next.
Thanks to everyone who participated and to Mark, the BEST producer in the world. If you have a financial question, there are lots of ways to contact us:
CFP and CPA Michael Goodman, President of Wealthstream Advisors, wants everyone to strive to pay ZERO taxes in retirement. He says that the ability to do "micro" Roth conversions and to utilize IRA Charitable Rollovers, which allow taxpayers age 70 ½ or older to make tax-free charitable gifts of up to $100,000 per year directly from their Individual Retirement Accounts to eligible charities, including colleges, universities and independent schools, could help many minimize taxes during retirement.
Michael's appearance was perfect for this show, because Neil, Don, Claudio, Peter, Richard and Warren all asked about retirement accounts. We also fielded questions about Required Minimum Distributions, so once again, here's the FINRA RMD calculator that I mentioned.
Thanks to everyone who participated and to Mark, the BEST producer in the world. If you have a financial question, there are lots of ways to contact us:
Retirement guru Ed Slott returns to the program to offer great advice during the hectic tax prep season: ABC or Always Be Contributing (to retirement!) While he favors a Roth over a traditional IRA, he just wants you to put yourself first in order to navigate this YOYO (You're On Your Own) environment.
Ed also provided analysis of President Obama's budget and its implications for owners of Roth IRA accounts; potential changes to contribution rules that could allow some taxpayers to make after-tax contributions (aka the "Mega-Backdoor-Roth"); and why we all need to be prepared for stealth tax increases in the future.
For more great information, check out Ed's website: IRAHelp.com.
Chuck from MD and his wife are planning to retire in a few years and wanted a strategy for downsizing; Marie asked about taking her Required Minimum Distribution -- here's the FINRA RMD calculator that I mentioned; and Charles asked whether he should sell a large position in a single stock.
"A Proud Grandmother" inquired about the best graduation gift and Remy is considering the best way to help out parents' in need.
Happy Valentine's Day! To celebrate, here a fun CBS This Morning segment: How to Talk to your Spouse about Money!
Thanks to everyone who participated and to Mark, the BEST producer in the world. If you have a financial question, there are lots of ways to contact us:
