Learning Center

A Roth individual retirement account (IRA) is a personal savings plan that offers certain tax benefits to encourage retirement savings. Contributions to a Roth IRA are never tax deductible on your federal income tax return, which means that you can contribute only after-tax dollars. But  …read more »

Generally speaking, the IRS allows you to make your IRA contribution for a particular tax year up until April 15 of the following year. This rule applies to both traditional IRAs and Roth IRAs, giving you some flexibility in terms of the timing of your  …read more »

The American Taxpayer Relief Act of 2012 (ATRA) also makes it easier to make Roth conversions inside your 401(k) plan (if your plan permits). A 401(k) in-plan Roth conversion (also called an “in-plan Roth rollover”) allows you to transfer the non-Roth portion of your 401(k) plan  …read more »

The new year began with some political drama, as last-minute negotiations attempted to avert sending the nation over the “fiscal cliff.” Technically, we actually did go over the cliff, however briefly, as a host of tax provisions and automatic spending cuts took effect at the  …read more »

IRA contribution limits The maximum amount you can contribute to a traditional IRA or Roth IRA in 2013 increases to $5,500 (or 100% of your earned income, if less), up from $5,000 in 2012. The maximum catch-up contribution for those age 50 or older remains  …read more »

Estate planning is a subject many parents would like to avoid. After all, you’re celebrating new life, and it’s sad to think that you may not be around to raise your child. However, it’s crucial to the welfare of your child that you leave behind  …read more »

Financial planning takes into account your risk profile, needs, concerns, and desires about money and your future.  Based on your needs and goals, a custom tailored financial plan can improve your financial outlook.  As a minimum, it provides a snapshot of your financial situation. Important  …read more »

Employees are usually unaware but many 401k plans allow borrowing from your 401k account balance.  Of course, the primary purpose of a 401k is to fund your retirement but on occasion it may make sense to borrow money from the plan. Basics of Borrowing from  …read more »

Although you may personally handle many of your financial affairs, sometimes you may need the services of a financial professional. Financial professionals include financial planners, attorneys, securities brokers, and other specialists. Selecting the right financial professional means evaluating the services they can offer and their  …read more »

Do you picture yourself owning a new home, starting a business, or retiring comfortably? These are a few of the financial goals that may be important to you, and each comes with a price tag attached. That’s where financial planning comes in. Financial planning is a  …read more »