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Top related persons:
Jeremy Finger - 3 Roth - 2 Catherine Valega - 2 you'll - 2 Prapass - 1 Ashton Lawrence - 1 Lawrence - 1 Kevin Brady - 1
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6 mentions found


☆ Here are 3 things to consider before making a Roth conversion to save on future taxes
  + stars: | 2023-09-15 | by ( Kate Dore | Cfp | ) www.cnbc.com   time to read: +2 min
Prapass Pulsub | Moment | Getty ImagesAs year-end approaches, some investors may be weighing a Roth individual retirement account conversion to save on future taxes. The strategy transfers your pretax or non-deductible IRA funds to a Roth IRA, which kick-starts future tax-free growth. But you have to plan for the upfront tax bill. Here are some key factors to consider before making a Roth conversion, according to financial experts. Assess the short-term tax consequencesWhile a Roth conversion may offer long-term tax benefits, there's potential for shorter-term consequences, Lawrence warned.
Persons: Prapass, Roth, Ashton Lawrence, Lawrence, Jeremy Finger Organizations: Roth IRA, Mariner Wealth Advisors, Riverbend Wealth Management, Riverbend Wealth, Republicans Locations: Greenville , South Carolina, Myrtle Beach , South Carolina
☆ Your 401(k) match is 'free money'—but you might not be able to take it with you when you leave
  + stars: | 2023-06-23 | by ( Ryan Ermey | ) www.cnbc.com   time to read: +4 min
Here's what she and other financial pros say you should know about your 401(k) match. How a 401(k) match worksFirst, a quick reminder of how 401(k) matches work and why financial planners love them so much. "I would invest enough to get the company match first, before paying off high interest rate loans," says Jeremy Finger, a CFP and founder of Riverbend Wealth Management. What is a 401(k) vesting schedule? Any 401(k) match you receive from your employer likely comes with some strings attached.
Persons: Kevin Brady, Catherine Valega, Jeremy Finger, they've, you'll Organizations: Wealthspire Advisors, CNBC, Green Bee, Riverbend Wealth Management, Employers Locations: New York City, Winchester , Massachusetts
☆ New to investing? 'Run' to this tax-advantaged retirement account, says CFP
  + stars: | 2023-06-22 | by ( Ryan Ermey | ) www.cnbc.com   time to read: +4 min
Some 28% of workers made Roth contributions in 2021, up from 18% in 2016, according to the Plan Sponsor Council of America. "Younger, mid- to lower-income employees should run to the Roth 401(k)," he says. Roth 401(k)s vs. Roth IRAsIf you're thinking the rules for Roth 401(k)s sound similar to those for Roth IRAs, you're right. Plus, you can contribute a lot more to a Roth 401(k) than a Roth IRA. For 2023, you can contribute up to $22,500 to a Roth 401(k), plus an extra $7,500 for those age 50 and up.
Persons: it's, you'll, Roth, you've, Jeremy Finger, Younger, you'd, Catherine Valega, Valega, Roth IRAs Organizations: of America, Riverbend Wealth Management Locations: America, Boston , Massachusetts
☆ This savings account offers a 'triple tax benefit'—but 88% of users are missing out
  + stars: | 2023-02-09 | by ( Ryan Ermey | ) www.cnbc.com   time to read: +3 min
Traditional retirement accounts, such as 401(k)s and individual retirement accounts, come with an upfront tax break. But a third type of account comes with tax-deductible contributions, tax-free growth in your investments and tax-free withdrawals on certain expenses in retirement: health savings accounts. How health savings accounts workHealth savings accounts are only available to people enrolled in high-deductible health plans. But the HSA comes with some extra benefits. You're also allowed to invest your HSA money in stocks, bonds, exchange-traded funds and mutual funds.
☆ Two of the 'best' ways to donate to maximize your tax deduction for charitable gifts, according to financial advisors
  + stars: | 2022-12-23 | by ( Kate Dore | Cfp | ) www.cnbc.com   time to read: +1 min
Members of the Salvation Army play music during the lighting of the world's largest Red Kettle in the Times Square neighborhood of New York, U.S., on Tuesday, Dec. 1, 2020. This holiday season, it may be possible to lower your taxes while supporting your favorite charity, experts say. Despite the shaky economy, most Americans plan to donate similar amounts this year as they did last year, a recent Edward Jones study found. While tax breaks typically aren't the main reason for giving, experts say some donors may be missing out on the chance for a deduction. Here's what to know about the charitable deduction before opening your wallet, and two of the "best" ways to give, according to financial advisors.
☆ Here are some things to think about before deciding to retire in another state
  + stars: | 2022-12-09 | by ( Deborah Nason | ) www.cnbc.com   time to read: +4 min
This may include health care, health insurance, rent, home prices, home insurance (especially in a place like Florida), property taxes, transportation costs, etc. Income taxes: It can really impact long-term retirement projections when you move from a state without income taxes to one with state levies on earnings. It can really impact long-term retirement projections when you move from a state without income taxes to one with state levies on earnings. Estate taxes: Many states have much lower estate-tax exemptions than the federal government, which could result in a state estate tax applying to heirs. "Both private health insurance for younger retirees and Medicare Advantage plans have specific service areas," he said.
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