529 to Roth IRA Conversion
The Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act, enabled the ability to convert 529 college savings plan accounts into Roth IRAs under certain conditions. This change reflects a strategic adaptation to the evolving financial planning landscape, providing savers with expanded options for managing their investment portfolios over the long term. So what exactly is a 529? [...]
Making a Charitable Gift
READ TIME: 4 MIN Why sell shares when you can gift them? If you have appreciated stocks in your portfolio, you might want to consider donating those shares to charity rather than selling them. The Advantages of Donating Stocks Over Selling Donating appreciated securities to a tax-qualified charity may allow you to manage your taxes [...]
Your Data Breaches To Do List
READ TIME: 4 MIN Data breaches frequently occur in today's digital world. In fact, estimates suggest that breaches expose the personal information of over 111.7 million Americans annually. Consequently, major retailers, subscription services, and online platforms all face this risk. Types of Data Breaches and Self-Protection Hackers sweep up names, email addresses, passwords, and other [...]
Retirement Contribution Limit for 2024
READ TIME: 3 MIN The Internal Revenue Service (IRS) has announced new limits for specific retirement accounts for the upcoming year. Remember, this update is purely informational. Always consult a tax professional before altering your 2024 tax plan. Individual Retirement Accounts (IRAs) For 2024, Traditional IRA contribution limits increase by $500 to $7,000. Those over [...]
Find That Lost Retirement Account
READ TIME: 3 MIN Find That Lost Retirement Account Have you misplaced a retirement account from a former employer? Perhaps it's been so long, you can't even recall. Surprisingly, more than 24 million "forgotten" 401(k) accounts exist, holding approximately $1.35 trillion in assets. Even the most organized professionals might discover they have unclaimed “found” money. [...]
What is a Roth 401(k)?
READ TIME: 3 MIN While many understand the benefits of traditional 401(k) plans, Roth 401(k)s may be less familiar to some. Employers have had the option to offer Roth 401(k) plans since January 1, 2006. In 2023, updated retirement rules expanded the availability of Roth contributions in more retirement plans. These plans blend features from [...]
