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Category Archives: IRA Education

Is a Rollover from a Traditional 401(k) to Roth IRA Possible?

In a past post, we talked about what do with an orphaned 401(k). With job changes more frequent now compared to 50 years ago, determining what to do with 401(k) funds is a fact of life for the modern worker. However, even though the possibility has existed for over 20 years, many employer plans still […]

Roth IRAs: 2 Funding Options for High-Income Earners

Contributions to Roth IRAs are made on an after-tax basis. This enables the accounts to provide tax-free earnings and tax-free qualified distributions. However, it’s well-known that income limits are a key difference between Traditional IRA and Roth IRA contribution rules. Income determines one’s eligibility for a full or partial Roth IRA contribution, as outlined in […]

10 Things to Know About a Beneficiary IRA (or Inherited IRA)

A Beneficiary IRA allows inheritors/beneficiaries to manage inheritance passed down to them in the form of a retirement account. This allows the deceased account holder to pass along tax-advantaged savings to his or her heirs. But, oftentimes, the first time one learns about a Beneficiary IRA is when he or she suddenly inherits a retirement […]

What Should You Do with Your Orphaned 401(k)?

Over the past few decades, Americans have witnessed a shift from defined benefit plans to defined contribution plans. The most notable defined contribution plan is the 401(k), many of which are forgotten about once we change jobs. In fact, millions of Americans are leaving assets in a 401(k) after changing jobs. TIAA-CREF estimates that 30% […]

72(t) and Other Exceptions to the Early Withdrawal Penalty

Have you heard of the 72(t) rule? Chances are that if you have, it was in reference to substantially equal periodic payments. While those are certainly important to know about, there’s even more to learn about this critical section of the code. Did you know you can find other exceptions to early distribution taxes within […]

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