Personal finance

Jamie Grill | Getty Images Mega backdoor Roth conversions can significantly boost tax-free retirement savings — but this maneuver is not available for all investors and mistakes are common, experts say. When investors make too much to save directly to a Roth individual retirement account, backdoor strategies can bypass the IRS income limits. A mega
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SDI Productions | E+ | Getty Images A gradual cooling of the labor market has made it tougher to find a new job, but overall conditions are still favorable for job seekers. “Things have gotten competitive,” said Julia Pollak, chief economist at ZipRecruiter. “Don’t get discouraged; there are opportunities out there,” she added. “This is
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D3sign | Moment | Getty Images Americans aren’t good at taking vacation. About 62% of workers say having a job with paid time off — for vacations or illness — is “extremely important” to them, more so than benefits like health insurance, a 401(k) plan or paid parental leave, according to a Pew Research Center
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Martin Barraud | Ojo Images | Getty Images Many Americans are likely familiar with financial thresholds that are adjusted for inflation each year. They include contribution limits to 401(k) plans, cost-of-living adjustments for Social Security benefits and federal income tax brackets, to name a few. These tweaks help households keep pace with the rising cost
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Getty Images If you’re a higher earner and looking to boost tax-free retirement savings, there’s a lesser-known strategy that could be worth considering. While Roth individual retirement accounts offer tax-free growth and other benefits, some investors earn too much for direct contributions. For 2024, the adjusted gross income limits for Roth IRA contributions are $161,000 for
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Alessandro Biascioli | Istock | Getty Images When it comes to claiming Social Security retirement benefits, experts agree it’s generally best to delay. Yet many people still claim early — either at the earliest possible age of 62 or before their full retirement age. Those early claims result in reduced Social Security benefits for life.
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