While you may have chosen to save using a traditional IRA, you do have the option to switch to tax-free retirement income. Who should consider a Roth conversion, and who should stay away? We've got your biggest questions answered.
"This is a really good crash diet from a financial standpoint," Conroy says. People often intend to trim their budgets but never get around to it. Current circumstances are giving families no choice but to make these hard decisions right now.
“The solo K has very high and flexible contribution limits, typically allowing more contributions than SEPs, traditional IRAs and Roth IRAs or SIMPLEs,” says Joe Conroy, CFP and founder of Harford Retirement Planners in Bel Air, Maryland.
“Stocks will likely trade in a narrow trading range unless this situation gets significantly better or worse,” says Joe Conroy, founder of Maryland-based Harford Retirement Planners. “If we start to see the infection numbers top out, we could see a bottoming process in the stock market.”
The House of Representatives approved the third phase of the rushed stimulus package. Advisors are poring over the details. Here are some of their immediate reactions.
For people like doctors, lawyers and engineers, success takes time ... and sacrifices along the way. Once you finally make it, you probably have the urge to start living large, but that could be a mistake.
