Though you don’t get a tax deduction on your contributions, you can grow, and eventually withdraw the money without paying any taxes on it. Before you hit retirement age, the money is easier to access than most other retirement accounts. And once you’re retired you won’t be forced to make withdrawals and can grow the
retirement
ProPublica is a nonprofit newsroom that investigates abuses of power. The Secret IRS Files is an ongoing reporting project. Sign up to be notified when the next installment publishes. Billionaire Peter Thiel, a founder of PayPal, has publicly condemned “confiscatory taxes.” He’s been a major funder of one of the most prominent anti-tax political action
She said it’s important that they let clients know how soon they can retire, but also answer the question of “How will you stay active in retirement?” Kristina said it’s important to determine how they plan to live their days and what costs may be involved in doing that. “Can you afford what you expect
For most people, preparing for retirement requires coordinating with experts. However, not everyone can afford to hire a financial planner. That’s why some have observed a growing trend: clients turning to their accountants for retirement planning advice. To some degree, accountants have always been involved in helping their clients prepare for retirement. Specifically, accountants may
After a 30-year career at Procter & Gamble, Francis Nelson Beebe was living his retirement dream—playing about 200 rounds of golf a year—before an epiphany. “I was standing over a putt one day and I said, ‘I can’t do this for the rest of my life,’ ” the former logistics executive recalls. For Beebe, who
FG Trade | iStock | Getty Images Do you enjoy watching your nest egg grow? Depending on the type of account, the U.S. government probably does, too. That’s because if it’s a 401(k) plan or individual retirement account holding pre-tax contributions, the IRS expects to get a cut at some point. “All too often, investors
Family farmers and ranch owners have traditionally counted on the value of their land to fund their retirement. But increasingly, we’re seeing more farmers and ranchers, especially younger ones, fund retirement accounts. There are plenty of reasons for you—and your business—to use employer-sponsored retirement accounts as part of an overall benefit package, according to my