Should You Have Money in a Roth IRA and a Traditional IRA?

Recently, I’ve had several email questions about saving in a Roth IRA vs. a Traditional IRA. The questions came from people who had most of their retirement savings in a Traditional IRA and were wondering if they should (1) start saving in a Roth, or (2) roll over the money in a Traditional IRA. In my replies to those questions, I’ve said that if most of your retirement saving is in a one … [Read more...]

Contribution Limits 2011 – IRA, 401(k), 403(b)

Not, much breaking news here, but just an informative update. The IRS announced (October 28, 2010) cost-of-living adjustments applicable to dollar limitations for pension plans and other items for tax year 2011. 2011 Contribution Limits – IRA, 401(k), 403(b) The contribution limits for 2011 are unchanged from the limits in 2010. 2010 2011 IRA Contribution … [Read more...]

Why We Converted Our Traditional IRA To A Roth IRA

As you probably already know, 2010 is a great time to convert your Traditional IRA to a Roth IRA.  The year is now more than half over, so I thought I’d share my thoughts on the Roth IRA Conversion. In 2010, you can convert a Traditional IRA to a Roth IRA even if you make over $100,000.  Also, you will pay taxes over a two year period and the first payment (1/2) isn’t due until April 2012 and … [Read more...]

Do You Need a Financial Advisor?

My financial adviser is a great guy - real smart too. But, over the time frame  of a couple of years I started feeling less and less comfortable about the investing partnership.  So, in early 2008 I jumped into the driver's seat.  I moved all my funds into a self directed account at TD Ameritrade, and with the guidance of the Sound Mind Investing Newsletter,  I took control of my investing.  … [Read more...]