This post contains affiliate links. As an Amazon Associate I earn from qualifying purchases. Last month, I sat across from a couple in their mid-50s who had done everything right. They maxed their 401(k) every year, lived below their means, and had accumulated just over $1.4 million in tax-deferred accounts. On paper, they looked like … Read more
This post contains affiliate links. As an Amazon Associate I earn from qualifying purchases. I still remember the client who came into my office in 2007 convinced she needed a traditional IRA because her coworker told her so. She was 34, earning $68,000 a year, and planning to retire early. She had never run a … Read more
This post contains affiliate links. As an Amazon Associate I earn from qualifying purchases. A few years ago, a surgeon came to me frustrated. She was earning just over $230,000 a year, had maxed out her 401(k), and kept hearing that she “made too much” to contribute to a Roth IRA. She assumed that door … Read more
This post contains affiliate links. As an Amazon Associate I earn from qualifying purchases. About three years ago, I sat across from a 58-year-old client — a former hospital administrator with $1.4 million sitting in a traditional IRA — and told her something I would have said very differently a decade earlier. I told her … Read more
This post contains affiliate links. As an Amazon Associate I earn from qualifying purchases. Last spring, I sat across from a 54-year-old engineer — let’s call him David — who had done nearly everything right. He maxed out his 401(k) every year for two decades. He had a diversified portfolio. He even had a Roth … Read more
How to Set Your Kids Up for Financial Success Family Finance • 6 min read In previous decades, saving for your child was fairly straightforward. Often, family members gave kids government savings bonds, and parents or guardians may have opened a traditional savings account in their child’s name. Today, parents have significantly more options; what … Read more
Roth IRA for Kids: The Benefits & How to Open One Family Finance • 6 min read A Roth IRA is one of the best ways to save for retirement. Common knowledge suggests that the account’s primary purpose (retirement) means it is only suitable for adults who have retirement in sight. Think again. Yes, a … Read more
Using IRAs to Help Children in 5 Easy Steps Roth IRA • 4 min read Can children have IRAs? The answer is yes—there is no minimum age requirement for having an IRA. Due to the remarkable power of compound interest, saving tax-free in an IRA from childhood can provide a significant head start on financial … Read more
The Ultimate Guide to Custodial Roth IRAs: How to Make Your Kids Financial Superstars Custodial Roth IRAs • 5 min read Let’s be honest, as a parent, you’re managing more responsibilities than you ever imagined. Between sports practices, homework, and daily routines, planning for your child’s financial future might feel like something to address later. … Read more
How and Why to Pay Your Kids Getting Started • 4 min read How (and Why) to Put Your Kids on the Payroll We’ve all heard the observation that children are expensive (because they certainly can be), but what if providing them with money was actually one of the most effective parenting strategies you could … Read more