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Traditional IRA Roth IRA Maximum yearly contribution (2019) Lesser of $6,000 or 100% of earned income ($6,500 if age 50 or older) Lesser of $6,000 or 100% of earned income ($6,500 if age 50 or older) Income limitation for contributions No Yes Tax-deductible contributions Yes. Fully deductible if neither you nor your spouse is covered

The question is actually more complicated than it first appears, because it demands consideration on two levels. First, there’s the emotional component: Are you ready to enter a new phase of life? Do you have a plan for what you would like to accomplish or do in retirement? Have you thought through both the good

When it comes to transitioning into retirement, timing really is everything. The age at which you retire can have an enormous impact on your overall retirement income situation, so you’ll want to make sure you’ve considered your decision from every angle. In fact, you may find that deciding when to retire is actually the product

By definition, estate planning is a process designed to help you manage and preserve your assets while you are alive, and to conserve and control their distribution after your death according to your goals and objectives. But what estate planning means to you specifically depends on who you are. Your age, health, wealth, lifestyle, life

Traditionally, retirement income has been described as a “three-legged stool” comprised of Social Security, traditional employer pension income, and individual savings and investments. With fewer and fewer individuals covered by traditional employer pensions, though, the analogy doesn’t really hold up well today. Social Security retirement income Today, about 93% of U.S. workers are covered by

A financial crisis can be scary at any age, but this is especially true when you’re in your 40s or 50s. Perhaps you’re way behind on saving for retirement or have too much debt from unnecessary spending. Or maybe an unexpected challenge, such as a job loss, illness, or break from the workforce for caregiving

There is no magic formula to determine how much you or your child should borrow for college. But there is such a thing as borrowing too much. How much is too much? One guideline is for students to borrow no more than their expected first-year starting salary after college, which, in turn, depends on a

If you follow financial news, you’ve probably heard many references to “the Fed” along the lines of “the Fed held interest rates,” or “market watchers are wondering what the Fed will do next.” So what exactly is the Fed and what does it do? What is the Federal Reserve? The Federal Reserve — or “the

Merger and acquisition (M&A) activity in North America and Europe reached its second highest level on record in 2018. There were 19,501 deals worth $3.6 trillion — a 6.3% increase in deal volume over 2017. There was also a rise in mega deals exceeding $10 billion.1 Collectively, U.S. corporations had plenty of cash to spend