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13 Hightower Advisors Honored on Barron s 2021 Top 1200 List

13 Hightower Advisors Honored on Barron s 2021 Top 1200 List
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Nondeductible IRAs: How they often become backdoor Roth conversions

Nondeductible IRAs: How they often become backdoor Roth conversions Bankrate 1/15/2021 James Royal © Yellow Dog Productions Inc/Getty Images A middle-aged Black couple holds one another laughing in front of a park A non-deductible IRA offers one of the two major tax-savings benefits of a traditional IRA: the ability to grow your money tax-deferred until you take it out in retirement. The benefit it lacks - and why it s called non-deductible - is that a worker s contribution is not made with pre-tax funds but rather with after-tax funds, meaning it does not receive a tax break on contributions. Popular Searches How a non-deductible IRA works

Do-It-Yourself Estate Planning Mistakes

Do-It-Yourself Estate Planning Mistakes © (Getty Images) Advices tips is always good The ongoing coronavirus pandemic has pushed many people to make long-delayed decisions about estate planning. Many people will try the do-it-yourself route via various websites or books. Internet DIY websites make it easy to download forms, but there are mistakes people make when they try do-it-yourself estate planning. Here are some issues do-it-yourself estate planners might run into: You need to know what to ask. Sometimes your situation is complicated. Estate laws vary from state to state. You Need to Know Which Questions to Ask If you are trying to do something simple, such as fill out one specific form, you may be able to do it on your own. From a simple standpoint (do-it-yourself websites and books) can be very effective for simple things like creating a will, says Greg Hammer, president of Hammer Financial Group in Schererville, Indiana. The challenge is sometimes not knowi

Money tips for the new year: Here are 21 ways to reduce debt, build an emergency fun in 2021

Money tips for the new year: Here are 21 ways to reduce debt, build an emergency fund in 2021 Adam Shell, Special to USA TODAY How you can save $1 million for retirement Replay Video UP NEXT Start the countdown: A new year is fast approaching. So now is the time to hatch a plan to get your personal finances back on track. Think of 2021 as a fresh start to solve your money worries. Here are 21 tips – or must-do money resolutions for the New Year– to help you trim your debt and build up that crucial emergency savings fund in 2021. Since most people need a substantial amount of money set aside to help ride out an unexpected financial setback, we ll kick off this list of advice with some money-saving tips recommended by financial planners and advisors:

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