Retirement Guides and Checklists

The IRS has released record high contribution increase for 2023. This article details the changes.

Some individuals may have unique circumstances that could result in a distribution from a Roth IRA being taxed or penalized. Many of these situations rarely come up, which makes it hard to remember the usual distribution rules from a Roth IRA.

There are lots of important numbers to keep in mind when planning for retirement. In some cases, those numbers are annual limits that change each year. Other times, the figures do not often change but are used frequently. Given the variety of sources that report relevant numbers, it can be difficult to quickly find the right reference when you need it. In response to this challenge, we’ve created the two-page “Important Numbers” resource.

There are a lot of important considerations to weigh before doing a Roth conversion. As a result of the current market condition and changes due to the SECURE Act, Roth conversions are becoming an important strategy. This flowchart addresses some of the major decision points to help guide you through the conversation.

If your earned income is too high, you may be unable to make a regular contribution to a Roth IRA. But, there is a workaround called the Backdoor Roth Contribution. There are many factors and rules that must be considered, and complicated steps to take in order to properly implement this strategy, without penalty. To help make the analysis easier, we have created the “Can I Make A Backdoor Roth IRA Contribution?” flowchart.

When saving for retirement, individuals will often ask which account they should be making contributions to – a traditional IRA or a Roth IRA? The answer depends on several different factors that should be considered and discussed.