back door roth

Don’t Let a Backdoor Roth IRA Become a Trapdoor IRA

One of the things I love most about working at Financial Finesse is the privilege of working with some of the best financial planners in the nation. My Floridian colleague, Mark Dennis, is near the top of that list. Not only is he a master fisherman with a hilarious wit about him, he’s in the final stages of earning his Ph.D and writing a dissertation exploring the factors that affect when people choose to take Social Security. In other words, he’s much smarter than me. This week, I’m sharing some of Mark’s wisdom with this guest post on a topic that comes up more and more in our helpline calls.

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stock market decline

Worried About the Stock Market Decline?

The first two weeks of 2016 have been horrible for the stock market.  The Dow Jones Industrial Average lost 8.25% from 1/1 through 1/15.  That is a bad year and it only took 2 weeks!    Read more

Are You Financially Fearless?

I love stories about things that don’t always go together. Sometimes it creates a wonderful combination. That’s why when I read this story about a Siberian tiger that isn’t eating the goat it was fed (and is actually becoming a good buddy of the goat), it brought a smile to my face.  Read more

What’s Your Plan For a Financial Independence Day?

One of the ideas in our CEO’s recently released book, What Your Financial Advisor Isn’t Telling You, is declaring a “Financial Independence Day.” Of course, the concept of “financial independence” means different things to different people. I personally think of financial independence as consisting of three different levels: Read more

The Five Biggest Myths About Saving Money?

When one of my colleagues recently sent me an article titled “The Five Biggest Myths About Saving Money, According to a Millennial,” I was intrigued. After all, it can be fun to bust myths, especially about something as important as saving money, and hearing a Millennial perspective is interesting, both because I might be one myself (I was born in 1979 and Millennials are sometimes described as being born in the late 70s and other times in the early 80s so maybe I’m actually something called an Xennial) and because they (or we) are the future. The article features the views of Ethan Bloch, the 30-yr old founder of Digit, an online financial company. Here are the “myths” about saving that Bloch aims to correct: Read more

Should You Convert to a Roth IRA Before Retirement?

I recently saw this article titled “Why Boomers Should Convert to a Roth IRA” that argues why Boomers should convert to a Roth IRA a few years before retirement. It makes sense at first. Why not pay taxes now and have all your future income from the Roth IRA be tax-free? Read more

Will You Still Need Life Insurance When You Retire?

Many important decisions must be made as you approach retirement. How much income will you need?Are you on track to retire? How much will your health care cost? What are the best investment options? Read more


Financial Rules Of Thumb: Retirement Savings

Continuing my financial rules of thumb series, this week let’s talk about a question that pretty much every person has asked me on our Financial Helpline: How much should I be saving for retirement and how much do I need total? While the answer varies depending on each person’s circumstances, goals and ultimately their values, there are some rules of thumb for those who either don’t feel like running a retirement estimator calculation or who just aren’t quite sure yet what their goals are. Read more

How To Save For Retirement Without Your Employer’s Help

At Financial Finesse, we help people make the most of their employer’s benefits to improve their retirement preparedness. But we recently received a comment on one of our Facebook posts from someone whose company doesn’t offer retirement benefits. If you’re in a similar situation, what can you do? Here are some options:  Read more

What’s Really Scaring Us This Halloween

What are you afraid of this Halloween? Forget ghosts and goblins. According to a report released last year by Bank of America’s Merrill Edge, there’s a 55% chance you fear not having enough money in retirement (versus 37% for losing your job and 25% for gaining weight). Read more

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