Used with care, the Roth IRA may help serve several objectives at once — like a multipurpose tool in your financial-planning toolbox. Retirement First and foremost, a Roth IRA is designed to provide tax-free income in retirement. If your modified adjusted gross income (MAGI) falls within certain limits, you can contribute up to $7,000 ($8,000 […]
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Are You Missing the Bull’s-Eye with a Target-Date Fund?
Two out of three 401(k) participants have assets in a target-date fund — an “all-in-one” fund intended in theory to be the holder’s only investment (see chart). These funds are often the default option in workplace plans, so you may have a target-date fund without fully understanding what it is, or perhaps without even knowing […]
Catch Up for a More Comfortable Retirement
A 2024 survey found that only a third of U.S. workers age 50 and older feel that their savings contributions have them on track to enjoy a comfortable retirement.1 If your retirement account balance is lagging — or even if your nest egg seems robust — you can give your savings a boost by taking […]
Debt After Death: What Happens to Debt When Someone Dies?
Losing a loved one is never easy. In addition to the emotional challenges you may face, you might also be worried about what will happen to their debts once they are gone. Generally, with limited exceptions, when a loved one dies you will not be liable for their unpaid debts. Instead, their debts are typically […]
ETFs Are Closing the Gap with Mutual Funds
Investor demand for exchange-traded funds (ETFs) has increased rapidly over the last decade due to attractive features that set them apart from mutual funds. At the end of 2024, over $10 trillion was invested in more than 3,600 ETFs. This was equivalent to 36% of the assets invested in mutual funds, up from 21% in […]
Protecting Your Packages: Tips to Combat Porch Pirates
Online shopping is more popular than ever. Unfortunately, this also means that package theft is on the rise. In fact, nearly half of all Americans (44%) have had a package stolen at some point by package thieves or “porch pirates.”1 Fortunately, there are steps you can take to prevent porch piracy. Use surveillance systems. Consider installing […]
Get Ready for Tax Time
According to one survey, 42% of Americans would rather go to the dentist than file their taxes.1 Tax season might not be your favorite time of the year, but a little preparation can help make the tax filing process as smooth and painless as possible. Review last year’s tax return. Not everything will stay the same, but […]
Distressed Loans Pressure Some Banks: Is Your Money Safe?
In March 2023, two of the largest bank failures in history alarmed savers who worried their own bank accounts could be at risk and investors who feared a wider financial crisis. To help restore confidence in the U.S. financial system, the federal government pledged to make all depositors whole and to support other banks that […]
Accounts for Two: A Team Approach to Retirement Savings
Almost half of U.S. families headed by a married couple include two working spouses.1 With dual careers, many spouses accumulate assets in separate retirement accounts. Each might have funds in an employer-sponsored plan and an IRA. Even if most of a married couple’s retirement assets reside in different accounts, open communication and teamwork can help them […]
Key Retirement and Tax Numbers for 2025
Every year, the Internal Revenue Service announces cost-of-living adjustments that affect contribution limits for retirement plans and various tax deduction, exclusion, exemption, and threshold amounts. Here are a few of the key adjustments for 2025. Estate, gift, and generation-skipping transfer tax The annual gift tax exclusion (and annual generation-skipping transfer tax exclusion) for 2025 is […]
