Month: February 2022

How does 401k loans work 401k contributors are allowed to access some of their savings in form of 401k loans. Most 401k plans allow retirement […]

Backdoor Roth IRA is perfectly legal provided certain requirements are observed. Current law allows huge backdoor contributions to a Roth IRA using tax-deferred savings from a 401(k) plan.

Required Minimum Distribution for IRA is the minimum amount IRS requires retirement savers to withdraw from any tax-deferred savings account each year after reaching the required age (retirement age).IRS charges Ordinary taxes on Required Minimum Distributions(RMDs). This almost ensures you don’t keep your money in a tax-deferred retirement account indefinitely.