Taxes often throw a complicated factor into long-term investments. One of the most important long-term financial goals that people should have is saving for retirement. Retirement can seem distant, especially for young people, and the existence of Social Security might make it feel like saving doesn’t need to be a priority. However, Social Security won’t…
Long-term retirement savings and investing is a complex topic, and one of the most challenging parts is trying to work out the best way to save money without paying too much in taxes. The government provides two different types of retirement savings accounts that have different tax treatments: Roth accounts and traditional accounts. You can…
New proposals to the federal spending bill could impact the tax advantages of Roth IRAs. The main elements of the proposed bill are that they would eliminate the so-called “back-door” conversions of traditional retirement accounts to a Roth. So let’s see how this might affect your retirement account. Roth Conversions Explained The main difference between…
What are the basic facts about US Treasury STRIPS, along with pros, cons, who buys them, how they operate, what the tax implications are? Here’s the lowdown on STRIPS investing: Have you ever thought about investing in STRIPS? If so, you probably have at least a basic idea about what government-backed securities are and how…