A Roth conversion is advantageous if you have a large traditional IRA account, and you expect your future tax bills to either grow or remain at the same level at the time you plan to start withdrawing from your tax-advantaged account.
Tax-advantaged plans such as 401(k)s and college savings plans are everywhere these days, but less well-known are Health Savings Accounts (HSAs) despite the many advantages they offer. In addition, the study also reveals that women have been having fewer children during these past five or six decades. What that means to Baby Boomers (those individuals born between 1946 and 1964) in or near retirement is a potentially smaller support system to help with life guidance and basic care.
During the past half century, the number of married couples in the U.S. has been steady declining. According to a study published in The Gerontologist, approximately one-third of Americans between the ages of 45-63 are currently single. Most of these have never been married, although many were once married but are now divorced.
In addition, the study also reveals that women have been having fewer children during these past five or six decades. What that means to Baby Boomers (those individuals born between 1946 and 1964) in or near retirement is a potentially smaller support system to help with life guidance and basic care.
The trade conflict with the U.S. is starting to impact China’s economic growth. An added element of pressure is the uncertainty around the economic impact of the protests in Hong Kong and more importantly, the Chinese government’s response.
The Pew Research Center estimates that 10,000 baby boomers are expected to turn age 65 each day from now until 2030. If you count yourself among this group—whether you plan on retiring next month or more than a decade down the road—consider these six recommendations to help you prepare for this next stage of your life…