The clock is ticking but you still have time to contribute to your Roth or Traditional IRA and have it count for 2019. A quick recap: the contribution limits for 2019 are $6,000 if you were under age 50 and $7,000 if you were 50 or over by 2019 year-end. You have until July 15, 2020 to submit your contribution. Here’s 4 […]
If you haven’t seen it yet, take a moment to peruse Kimberly Lankford’s recent article for AARP on “Why You Should Have a Roth IRA During Turbulent Times.” Kim interviewed Mari Adam last week about how a Roth IRA is one of the most versatile and valuable savings accounts around. And despite the market turbulence, […]
Sorry! IRS says IRA contribution limits will NOT go up for 2020. They stay at $6,000 total for your Traditional or Roth IRAs ($7,000 if age 50 or over). Financial Tip: If you’re eligible to contribute, make sure you do so. Those annual contributions can add up to big amounts over a lifetime.
I met recently with the parent of a high school student who was thinking about ways her daughter could save for the future without jeopardizing any potential college financial aid. That’s a concern other parents may have as well. If your high school student works and earns money from a job, a Roth IRA is […]
During a client meeting in our office last week, we talked about how they – parents of young adult kids (in their 20s and young 30s) – could help the kids get onto a sturdier financial footing without killing their own initiative or enabling them. We’ve written about this a lot, but it’s always worth repeating […]
Tired of taxes? Can’t blame you. But sometimes it pays to start thinking ahead about successful strategies we can discuss before year-end to save you on your future tax bill, and help you beef up retirement assets you can access totally tax-free for years to come. What we’re talking about is getting more money into a Roth IRA account for […]
The clock is ticking but you still have time to contribute to your Roth or Traditional IRA and have it count for 2018. You can check out our IRA tips from an interview we did with Yahoo Finance. A quick recap: the contribution limits for 2018 are $5,500 if you were under age 50 and $6,500 […]
With tax rates headed lower for many people, this might be a good year to consider a Roth conversion. For the uninitiated, that’s when you withdraw funds from a traditional IRA, pay the tax now instead of later, and then move the funds into your Roth IRA. Once your savings are in a Roth, they’ll […]
Here’s one tax tip that will never lead you wrong: Fund your Roth IRA. If you are eligible to make a Roth IRA contribution for 2017 (yes, there is still time!), do NOT fail to do so. Roth IRAs have been around since 1997, and they remain one of the best deals out there. Whatever […]
Twenty years ago, the Roth IRA was invented. Not familiar with the Roth? This is a great type of retirement account that allows your money to grow tax-free for decades. (And how many other accounts can you say that about?) The only bad thing we can say about a Roth IRA is that some people […]
About Mari Adam, CFP®
Mari Adam, Certified Financial Planner™ and President of Adam Financial Associates Inc, has been helping individuals and families chart their financial futures for twenty five years. Mari has appeared in publications such as Business Week, CBS MarketWatch, Wall Street Journal, Kiplinger’s, Newsweek, and Money Magazine.
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