Savings Game: Bad advice abounds on Roth IRA conversions
This is why I must keep writing about Roth IRA conversions: A dozen readers ages 70-1/2 and older have written to say their financial advisers recommended they convert their entire traditional IRAs to Roth IRAs this year.
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ect.) might be best for my personal situation? Could someone explain the plan that is more important and why this plan is best for me.
We’re beginning our retirement savings, and are not sure why our money market isn’t the best place for the money; I assume for tax reasons.
I’m 27, husband is 34. We’re both going to start IRAs. I don’t know if it’s better to save more now and put less into IRAS. We are halfway to reaching the goal amount for our emergency savings. We intend on going to grad school also. But, we are behind with retirement, so I wasn’t sure if I should beef that up now and be okay with saving less each month.
I know that I can take money out of a Roth IRA tax free for education expenses and that the money in a Roth IRA grows tax free, so why would I want a 529 instead?
My boyfriend was in the military for 5 years, and created a few IRAs, savings accounts, and other assets along the way. Unfortunately, he never kept track of his deposits, and now wants to find out what he has floating out there. Is there any place that we can use his SS# to find what accounts are connected to it?
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