Estate Planning

Is a Backdoor Roth IRA Right for You?

First of all, what is a Backdoor Roth IRA? It’s merely a way to contribute to a Roth IRA when your income exceeds the contribution limit of $183,000 (for a couple filing jointly). The Backdoor Roth IRA procedure removes this restriction. It involves a simple two-step process. First you contribute up to $5,500 to a […]

Maximizing the Value of Your 401(k)

You may know that over-50 workers can generally contribute up to $24,000 per year to their 401(k) plan on a pre-tax basis. But, did you know that a worker’s total 401(k) contribution (pre-tax contributions, matching company funds and after-tax contributions) rises to a $59,000 limit? But wait, it gets better. Starting in 2013, new legislation […]