Clients can now make IRA contributions at any age. But should they?
Pre-retirees may consider funding a Roth account to take advantage of tax-free compounding and tax-exempt withdrawals in retirement, an expert writes.
Tax
This could be 2020’s most important retirement savings vehicle
The HSA has become increasingly valuable for future medical expenses, "and the triple tax benefit simply can’t be ignored,” an expert says.
Why clients aiming for early retirement shouldn’t feel guilty about spending
Pre-retirees are encouraged to save aggressively and create a list of things they plan to spend their money on without remorse, an expert says.
Why clients need more than one source of retirement income
While it’s recommended they have at least three sources when they retire, just 6.8% of savers have done so, according to a report.
What to do about Medicare if your clients are 65 and working
“The advice I give is to calculate the financial impact for each option,” an expert says.
Divorcing clients? Here’s how to split an IRA
This rise of the so-called grey divorce has created a number of uncommon and complex issues for retirement accounts.
Some clients feel they’ll never be ready for retirement
Ill-prepared investors are advised to vigorously plan their expenses and aggressively save in their 401(k)s and IRAs.
Fidelity launches HSAs for financial intermediaries
The accounts will be managed through Wealthscape, allowing advisers access to their client’s finances to help manage rising healthcare costs.
Now might be a good time to save in Roth accounts
Contributing to these accounts makes sense for clients who anticipate higher tax rates in the future.
Benefits Think From 401(k)s to stretch IRAs, what the Secure Act means for clients
This recently passed bill is groundbreaking retirement legislation and will substantially alter the landscape for employer-sponsored retirement plans and individual savers.
Dan Collins
Commonwealth Financial Network
How to manage multiple HSAs for couples
They are triple-tax advantaged, but also introduce significant challenges — especially for life partners with multiple accounts.
IRS advises employers to educate workforce on new W-4
While seasoned employees won’t have to fill out the forms, all employees should be aware of how their tax situation may be affected.
Benefits Think IRA spousal contributions can mitigate high cost of women’s work breaks in retirement plans
The gender gap is alive and well when it comes to career timeouts and savings often take the hit.
Barbara Van Zomeren
Ascensus
How employers are contributing to Giving Tuesday
Encouraging charitable giving and volunteer work on Giving Tuesday boosts employee well-being.
Buyout or pension? The heavyweight bout of retirement decisions
Buyout amounts are high right now, but there are many other factors to consider when guiding employees to the right choice.
Kamala Harris unveils sweeping parental-leave plan
The Democratic presidential contender proposes six months of paid family and medical leave for all workers.
Multiyear tax planning may help stretch retirement savings
Clients should think of the years as empty buckets and keep the amount of income into each bucket level per year.
Retiring early with kids may be harder than employees think
Chances are high that one or both parents who have left the workforce ahead of their full retirement age are still working out of necessity.
Working longer may not be the solution to the retirement crisis
Age discrimination, unpredictable life shocks and involuntary retirement casts serious doubt on the “work longer” thesis.
This common mistake could ‘significantly diminish’ the value of savings
Clients adding investments other than target-date funds to their 401(k) or 403(b) could potentially hurt their bottom line.
