If you've been thinking about converting your traditional IRA to a Roth IRA, this year may be an appropriate time to do so. Because federal income tax rates were reduced by the Tax Cuts and Jobs Act passed in December 2017, converting your IRA may now be "cheaper" than in past years.
If you have a lot of credit card debt you may be tempted to pay it all off by borrowing from your 401(k). Joining us today is Melanie Ross, CFP®, with NCA Financial Planners with 3 reasons why you should think twice before borrowing from your 401(k). ( 3 min )
The Bipartisan Budget Act passed in early 2018 relaxed some of the rules governing hardship withdrawals from 401(k)s and similar plans. Not all plans offer hardship withdrawals, but the ones that do will be required to comply for plan years beginning in 2019.
Target-date funds have become an increasingly popular way to save for retirement. Today Melanie Ross, CFP®, with NCA Financial Planners shares some things you should know about Target-Date funds. (2 min 41 sec)
As the go-to investment option for most companies and their employees, 401(k) plans provide many benefits to plan participants, including deferment of taxes, the likelihood of an employer match, and a high maximum allowable for annual contributions. However, for those that are self-employed, or whose employer does not offer a 401(k), a traditional or Roth IRA is an option.
In 2018, as in years past, retirees expressed a higher level of confidence than today's workers (perhaps because "retirement" is less of an abstract concept to those living it). However, worker confidence seems to be on the rise, while retiree confidence is on the decline.
Many of us have the option of saving within a 401k plan, Elizabeth Scheiderer, CFP® with NCA Financial Planners is here to help share some ideas on how you can start making the most of your 401k plan. (3 min 9 sec)