Traditional IRA Archives | Darrow Wealth Managment

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4 Ways the Secure Act 2.0 Would Change Retirement Planning

If passed, the 'Secure Act 2.0' would significantly alter the retirement landscape. Officially called the Securing a Strong Retirement Act of 2021, the bill is essentially a follow up to the 2019 Secure Act. After passing the House Ways and Means Committee yesterday, the proposed legislation is now going to…

Kristin McKennaMay 10, 2021

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Converting a Traditional IRA to a Roth Before or During Retirement

It doesn't always make sense to convert a traditional IRA to a Roth IRA. Your current and projected tax rate is often a main component of the decision, but there are other issues at play. Converting a traditional IRA to a Roth doesn't make sense unless you have cash to…

Kristin McKennaMay 27, 2020

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I Maxed Out My 401(k), Now What? What to Do After Maxing Out Your 401(k)

Ways to Invest After Maxing Out a 401(k) Wondering what to do after maxing out your 401(k)? If you're looking for ways to save outside of your retirement plan, most individuals have three options: a brokerage account, Traditional IRA, or Roth IRA. Looking for ways to invest after maxing out…

Kristin McKennaOctober 8, 2019

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Non-Deductible IRA Contributions Aren’t Worth It – Here’s Why

5 reasons you shouldn't make nondeductible contributions to an IRA Are non-deductible IRA contributions worth it? Most high-income individuals are unable to make tax-deductible contributions to a traditional IRA due to IRS limits, yet their earnings level may allow the capacity to save more after maxing out a 401(k). Although any…

Kristin McKennaJuly 23, 2019

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Options After Inheriting an IRA from Your Spouse

If your spouse has named you as a beneficiary on their traditional IRA, SEP IRA, or SIMPLE IRA, you will need to understand your options for the account you have just inherited. In general, you will have three choices for the IRA you have inherited. As you review your options,…

Kristin McKennaApril 13, 2018