The Malcolm On Money blog is updated monthly with new content related to personal finance. Malcolm covers topics such as investments, taxes, insurance, retirement, and executive benefits.
The key advantage to utilizing a Roth Individual Retirement Account (IRA) is that when done properly, your withdrawals in retirement are not taxed. For that reason, it has become the most coveted retirement vehicle there is. Roth IRAs prompt many savers to wonder whether they should either begin contributing to or converting a portion or all of their taxable retirement funds into one.
Read MoreBaby Boomers are set to pass along somewhere between $60-75 Trillion to their heirs over the next 20 or so years. With that in mind, it is a safe bet that the IRS is licking its chops waiting to get its hands on those inherited assets before they flow to their intended beneficiaries. The more assets inheritors are able to keep, and ultimately defer from taxation, the more successful this massive wealth transfer will be.
Read MoreAt first glance, variable annuities sound like a great retirement income solution for any pre-retiree who wishes to simplify their financial planning efforts. While variable annuities do have their place in the world, they are not a one-size-fits-all solution. When deciding whether to put money into a variable annuity versus another type of investment vehicle, it is advisable to first weigh the pros and cons.
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