IRAs

With the tax-filing deadline behind us, many people are suffering tax-related sticker shock.  What would it take to have a better tax-season next year?  Here is a quick checklist of ideas; not all will apply, and of course there are caveats and limitations to almost every one of them.  We’ll get detailed and down in the weeds when strategizing with your personal situation i

There is no minimum age on Roth IRAs, only the requirement that a person needs to have earned income*.  OK, it’s true that babies have a hard time finding work, but as kids get summer jobs or are able to work in a parent’s business, a Roth is a great tool for savings. 

When investments are down, one financial strategy is to convert your traditional IRA to a Roth while the value is reduced so you pay taxes on the decreased value. If and when the market rebounds, that rebound will be in the Roth’s tax-free environment.