Roth IRAs

If they fear a sharp downturn, seniors may want to avoid locking up their retirement accounts in long-term bonds.

Seniors who negotiate for such an arrangement should consider their finances, flexibility and mutual benefits.

Advisors may be able to shift taxable income and potentially save on employment taxes, as well.

Clients are advised to consider delaying their Social Security benefits, as up to 85% will be subject to income taxes, an expert says.

Withdrawals for non-medical expenses would no longer be penalty-free under the proposal.

Clients often underutilize deductions for work-related technology purchases and travel expenses.

Clients who want to save for their children’s education may be better off using a 529 plan than a Roth IRA.

Contribution limits in a Roth IRA could shrink for couples after marriage.

They may look good on paper, but such investments also come with thorny challenges.

If passed, non-spouse heirs would be required to drain assets within 10 years after the owner’s death.

Clients have to increase their risk exposure to ensure they don’t outlive their savings.

The property should allow them to live close to their loved ones and fit their financial plan, according to a CFP.

Careful planning can help prevent them from shrinking their benefits based on misperception.

Early planning for potential tax hikes is key.

The rule can create significant tax savings, but in unskilled hands it can just shift the burden elsewhere.

The legislation includes a provision that would raise the age limit for making contributions and taking required minimum distributions.

As much as 46% believe Medicare will cover the costs of long-term care.

In one case, a 6-year-old owed $7,000 in federal taxes two years after his father, a U.S. Navy senior chief petty officer, died of a heart attack.

With longer life expectancies leading to increased health care spending later in life, experts are second-guessing the 10% savings rule.

A market correction only becomes a real risk if investors act and make buy or sell decisions to alleviate mental anguish today at the expense of tomorrow, says an expert.