Can You Open a Roth IRA If You Exceed Income Limits?
RETIREMENT READ TIME: 4 MIN Can You Open a Roth IRA If You Exceed Income Limits? Understanding the Backdoor Roth IRA Strategy Even if your income exceeds the direct contribution limits for a Roth IRA, you may still have options. One common approach is the backdoor Roth IRA, which involves contributing to a traditional IRA […]
Understanding Roth 401(k) Plans for Retirement
RETIREMENT READ TIME: 3 MIN Understanding Roth 401(k) Plans for Retirement What Is a Roth 401(k)? Roth 401(k) plans combine features of traditional 401(k) plans with those of Roth IRAs. Employers in the U.S. have been allowed to offer Roth 401(k)s since 2006. Unlike traditional 401(k)s, contributions to a Roth 401(k) are made with after-tax […]
New Retirement Contribution Limits for 2026 Explained
RETIREMENT READ TIME: 4 MIN 2026 Retirement Contribution Limits: What You Need to Know Planning for retirement requires staying informed about changes to contribution limits and tax rules. For 2026, the IRS has announced updates to retirement account contribution limits, providing new opportunities to maximize your savings. This article outlines the key changes for Individual […]
Social Security: Key Facts for Retirement Planning
RETIREMENT READ TIME: 4 MIN Social Security: Key Facts for Retirement Planning Introduction Social Security is a major component of retirement planning, but its rules and options can be complex. Understanding the basics can help you make informed decisions about when to start benefits, potential taxes, and family eligibility. Here are five key facts about […]
Roth 401(k) vs. Traditional 401(k)
Roth 401(k) vs. Traditional 401(k) Your retirement income can vary widely depending on what type of account holds your savings and what assumptions are made about overall returns and tax rates during the accumulation and withdrawal periods. Use this calculator to help compare employee contributions to the new after-tax Roth 401(k) and the current tax-deductible […]
Inflation & Retirement
Inflation & Retirement It may surprise you how fast inflation can erode purchasing power. This calculator is designed to help you estimate how much more income you may need at retirement to keep your same standard of living that you have today. Income Current age (1 to 120) Current gross annual income ($) Anticipated inflation […]
Annuity Comparison
Annuity Comparison Deposits into an annuity are not tax-deductible; however, you may not have to pay taxes on the interest earned until you begin making withdrawals. This tax-deferral period can have a dramatic effect on the growth of an investment. Use this calculator to compare the potential tax advantages of saving in an annuity versus […]
Self-Employed Retirement Plans
Self-Employment Retirement Plan Maximum Contribution Compensation for a self-employed individual (sole proprietor or partner) is that person’s “earned income.”* The starting point to determine the individual’s earned income is the net profit amount from the Schedule C (or Schedule K-1 for a partnership). Use this calculator as a starting point to assess your potential maximum […]
Estimate Your RMD
Estimate Your Retirement Plan Withdrawals Under the SECURE Act, your required minimum distribution (RMD) must be distributed by the end of the 10th calendar year following the year of the Individual Retirement Account (IRA) owner’s death. Penalties may occur for missed RMDs. Any RMDs due for the original owner must be taken by their deadlines […]
Potential Income from an IRA
Potential Income from an IRA Your IRA may play a key role in your retirement. And the amount of retirement income your IRA can generate may vary widely depending on what assumptions you make about return and tax rates during the accumulation and withdrawal periods. Use this calculator to help estimate your monthly and annual […]