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Roth IRA conversion calculator

Bankrate provides a calculator to help you make decisions on converting traditional IRA funds to a Roth IRA (individual retirement account).  “A conversion has advantages and disadvantages that should be carefully considered before a decision is made. This convert IRA to Roth calculator estimates the change in total net worth, at retirement, if you convert…

Now may be ideal time to convert a trditional IRA to a Roth

Investment losses in this unprecedented market decline have been brutal. But keep in mind that if you’ve been invested during the almost 11 year long bull market you may still be ahead. To survive this coronavirus bear market consider converting part or all of a traditional IRA to a Roth IRA. Any amount that you…

Retirement plan limits for 2019-2020

 401(k) contributions The annual contribution limit for employees who participate in 401(k), 403(b), most 457 plans and the Thrift Savings Plan used by federal government employees increased in 2019 to $19,000 (and those limits will be going up another $500 in 2020). If you’re 50 or older, you also can take advantage of a catch-up…

Individual Retirement Account Update

The amount you can invest in an IRA is increased for 2019. You can still contribute for 2018 before you file your income tax return.  Quoted from the IRS website: https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-ira-contribution-limits For 2019, your total contributions to all of your traditional and Roth IRAs cannot be more than: $6,000 ($7,000 if you’re age 50 or…

What mom REALLY needs for Mother’s Day

My New York City sister sent me an email about a Mother’s Day Brunch for “only” $105 per adult and $45 per child! Obviously that’s what the 1% (or 10%) does to celebrate Mother’s Day. What mom really needs is not an expensive restaurant meal, flowers, or another kitchen gadget. What most mothers need, especially…