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Roth IRA

Why Convert a Roth IRA?

Investing in a traditional IRA while earning a paycheck is a good way to defer income taxes on the money you contribute. Currently, taxpayers who aren’t covered by a retirement plan at work may deduct the full amount of their annual contributions to a traditional IRA. Those who do participate in a work plan may…

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Legacy Planning Tip: POD

Not all wealth is distributed according to a will. Life insurance, annuities, pensions, IRAs and 401(k)s are distributed according to the beneficiary designation assigned in your contract or policy. Another way to transfer assets is to assign a beneficiary through a payable on death (POD) account designation. Some states allow bank account owners to assign…

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Retirement Account Withdrawal Order Matters

When and which account you draw money from matters during retirement. One reason is because assets are taxed differently. For example: Roth IRA funds (if held for more than five years and you are past age 59 ½) are tax-free Municipal bonds and muni bond funds are tax-free Taxable accounts are taxed as capital gains…

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The Year of Education

Over the years, we’ve used different channels to provide information for retirees in the Twin Cities. Many of you have listened to us on radio and attended one of our summits, seminars, dinners, or personal consultations.  We are still offering all of the above and recently added Retirement Elevated, which is a classroom format for comprehensive retirement information, It’s…

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