Terms of Use /* Scoped container to ensure full width and no font conflicts */ .pension-article-container { width: 100%; margin: 0; padding: 20px; box-sizing: border-box; /* Inherits your website's default font and color */ } .pension-article-container h1 { border-bottom: 2px solid #000; padding-bottom: 10px; margin-top: 0; /* Underline removed */ text-decoration: none; } .pension-article-container h2 { margin-top: 30px; border-left: none; padding-left: 0; /* Underline removed */ text-decoration  More...

Terms of Use The IRS uses MAGI to determine if any or all of your IRA contribution is deductible and if you are eligible for premium tax credits. The higher your MAGI, the fewer deductions you can take on IRA contributions. There is a maximum MAGI when if met, IRA deductions aren't allowed. While you can still contribute to an IRA, but you won't be able to deduct any of the contributions on your tax return. Adjusted Gross Income (AGI) AGI represents your taxable income. AGI is defined as  More...

Terms of Use Definition: A 401(k) plan is offered by employers to allow you to set aside money for retirement on a tax-advantaged basis. You can contribute pre-tax dollars and then invest those dollars in the investment options provided by your employer for the purpose of saving for retirement. The earnings on your investments are tax-deferred until retirement. Your employer may also make matching contributions to your account. 401(k) plan limits: 401(k) Plan Limits 2026 Elective Deferrals $24  More...

Terms of Use One of the greatest benefits of a Roth IRA is the absence of Required Minimum Distributions (RMDs) during the owner's lifetime. Original Owner: No RMDs ever. Your funds can grow tax-free indefinitely. Workplace Roth Plans: As of 2026, Roth 401(k) and Roth 403(b) accounts also no longer require RMDs for the original owner. Inherited Roth IRAs: Most non-spouse beneficiaries must withdraw the total balance within 10 years of the owner's death, though these distributions a  More...

Terms of Use Yes, contributions to a Roth IRA may be withdrawn tax- and penalty-free at any time, for any reason. After the IRA has been established for five years, earnings on contributions may be withdrawn tax- and penalty-free, provided the owner meets any of the following specifications: has reached age 59½ has become permanently and totally disabled is deceased is withdrawing the funds for first-time home purchase First-time home purchase withdrawals are limited to a maximum wi  More...

Terms of Use Your golden years are closer than you think! You know you need to save for retirement. Perhaps you've been stashing away some funds for that someday, but how do you know if you're saving enough? There isn't any way to know for certain how much you'll need to save today in order to afford the lifestyle you see for yourself down the road, but putting some thought to it NOW and coming up with a retirement plan will help ensure that you arrive over the hill in co  More...

Terms of Use What if retirement is just around the corner and you haven't saved enough? Here are some tips. Some are painful, but they'll help you toward your goal. It's never too late to start. It's only too late if you don't start at all. Sock it away. Pump everything you can into your tax-sheltered retirement plans and personal savings. Try to put away at least 20 percent of your income. Reduce expenses. Funnel the savings into your nest egg. Take a second job or   More...

Terms of Use Roth IRA contributions are made with after-tax dollars. You can contribute to a Roth IRA if you have taxable compensation and your modified adjusted gross income (MAGI) is within certain limitations The maximum allowable contribution to a Roth IRA depends on whether contributions are made only to Roth IRAs or to both Traditional IRAs and Roth IRAs. Please see the IRS web site for more information.

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Terms of Use People often associate trust funds only with the wealthy. But a trust actually can be an effective financial tool for many people in many circumstances. A trust is a separate legal entity that holds property or assets of some kind for the benefit of a specific person, group of people or organization known as the beneficiary . The person creating a trust is called the grantor , donor or settlor . When a trust is established, an individual or corporate entity is designated to oversee   More...