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Articles on Wealth Management Topics

Supercharge Your Retirement Savings with Mega Backdoor Roth IRA Contributions

Roth 401(k) contributions are especially advantageous to younger workers still looking forward to their peak earning years. And for higher-paid employees, Roth 401(k)'s may be the only way for them to contribute to Roth-style accounts. Now here's a way - courtesy of some fairly recent clarification from the IRS - to potentially supercharge the pace of your contributions to Roth-style accounts at the workplace, regardless of whether or not your employer offers a Roth 401(k) feature.

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Is Now the Time to Rollover a Retirement Plan Account to an IRA?

One of the major factors to consider when deciding whether to rollover a retirement plan account to an IRA is investment flexibility. An IRA typically allows its owner almost unlimited investment flexibility. In contrast, a 401k, 403b or 457 retirement plan account-holder is constrained to choose from among the menu of investment options made available by the plan's sponsor and service provider.

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Target-Date Mutual Funds: A Step in the Right Direction, But Far From Ideal

Target-date mutual funds have been attracting more and more assets during the last decade, primarily as a result of their burgeoning use in 401k and 403b plans. Plan sponsors and participants alike are drawn to the simplicity of TDF's, but as is often the case, the easy solution is not the best one. The weaknesses of target-date funds stem from three words: lack of customization.

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Brokers Come Under Fire as the Fight Over Fiduciary Financial Advice Heats Up Again

The seemingly endless debate about the standards of care with which various types of financial advisors are legally required to treat their clients received some much-needed attention in Congress recently. Given that the SEC and DOL are both working on new rules governing the relationship between advisors and clients, it's critical for current and prospective consumers of financial advisory services to understand the regulatory environment and to be aware of recent developments.

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DJIA vs. S&P 500: Which Should You Use As An Indicator of Stock Market Performance?

If you rely on the media, and particularly the local media, for your coverage of the stock market, you will find that the Dow Jones Industrial Average (DJIA) is the most oft-quoted measure of how the stock market performed on a given day. And yet most stock market professionals - portfolio managers, analysts, strategists and the like - will refer to the S&P 500 Index instead of the DJIA as their preferred yardstick of market performance. Why is this?

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Financial Advisory Standards of Care and Rollovers to IRA's

The decision as to whether or not to rollover a retirement plan account to an IRA should be based on more factors than just the associated mutual fund management expenses. On its website, the Dept. of Labor provides guidance to retirement plan participants, i.e. employees, on how to evaluate the fees and expenses associated with their plan: "... don’t consider fees in a vacuum. They are only one part of the bigger picture including investment risks and returns and the extent and quality of services provided. Keep in mind the importance of diversifying your investments."

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"Stealth" IRA Contributions

As we begin to prepare for tax season, IRA contributions are on the minds of many taxpayers. This should be no surprise since not only do tax-deductible IRA contributions reduce current tax bills, but non-tax-deductible IRA contributions have the potential to reduce future tax bills as well. With these tax benefits in mind, here are three ways to effectively increase your household's IRA contributions that often fly under the radar:

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