Managing your money may be your own responsibility, but there are some times and tasks that require the attention of an expert. Even if you don’t rely on a financial professional to oversee your finances on a regular basis, seeking the advice of an expert can be crucial for navigating certain situations successfully.
Roth IRAs, as well as traditional IRAs, come with complex rules and a lot of opportunities for missteps. Here are three of the most common mistakes people make with a Roth IRA, and how to avoid them.
NEW YORK (MainStreet) — Here is what you could do on today: go to a nearby bank, stand in line, deposit your paycheck, and ask the teller to give you $100 cash back, in a mix of 20s, 10, and 5s.
When you turn over your hard earned money to a financial advisor, you would expect that your best interests will be taken to heart. In the end, that’s not always the case.
NEW YORK (TheStreet) — An employer-sponsored plan allows an employee to contribute pretax dollars into an investment account for retirement savings. These plans offer several tax benefits, including tax-deferred contributions until withdrawn, and employers are allowed to deduct those allowable contributions for each participant.
NEW YORK (MainStreet) — Missing out on an employer 401(k) opportunity is the most obvious retirement savings mistake a worker could make. 401(k)s are an employee-sponsored savings vehicle. Contributions are made directly from someone’s paycheck and, depending on the account type, are either taxed immediately or tax deferred.
LAKE MARY, Fla. – Studies show nearly 10-million adults are caring for their aging parents — a number that is sure to increase as the population ages.
Many of these children are being put in positions they were ill prepared for, unaware of mom and dad’s financial standing. Many are finding insufficient funds for what could be the most expensive years of their parent’s lives.