Among the many provisions in the multi-trillion-dollar legislative package being debated in Congress is a provision that would eliminate a strategy that allows high-income investors to pursue tax-free retirement income: the so-called back-door Roth IRA. The next few months may present the last chance to take advantage of this opportunity. Roth IRA Background Since its introduction in 1997, the Roth IRA has become an attractive investment vehicle due to the potential to build a sizable, tax-free nest egg. Although contributions to a Roth IRA are not tax-deductible, any earnings in the account grow tax-free as long as future distributions are

Manal FouzChief Compliance Officer Financial abuse, like emotional abuse, is far too common in many relationships. It’s not unique to any generation, culture, or faith. Seldom discussed, it can make its victims feel anxious, powerless, and resentful. I guarantee that you know at least one couple currently experiencing it. Financial abuse can occur when one spouse exerts complete control over the other’s access to financial resources. In the case of a husband and wife, the husband is almost always the guilty party. The wife’s ability to be financially self-sufficient is greatly reduced, resulting in a power dynamic that is unfairly

It doesn’t matter if you’re still working, recently changed jobs, or approaching retirement; if you have an old 401(k), 403(b), or 457 plan that’s been sitting untouched after you left an employer, you need to ask some critical questions. Should you: Leave it where it is? Move it to your new employer? Roll it over into an IRA? Notice that not one of the above options was to cash out of your plan. Using a job change as an opportunity to access 401(k) funds is generally not in your best interest, especially while you’re still working. If you’re under retirement

October is the kickoff season for financial aid. That’s when incoming and returning college students can start filing the Free Application for Federal Student Aid, or FAFSA, for the next academic year. The FAFSA is a prerequisite for federal student loans, grants, and work-study, and may be required by colleges before they distribute their own institutional aid to students. How do I submit the FAFSA? The FAFSA for the 2022-2023 school year opens on October 1, 2021. Here are some tips for filing it. The fastest and easiest way to submit the FAFSA is online at studentaid.gov. The site contains resources and