The Funds Pros

With a Roth IRA, you contribute after-tax dollars, so there is no tax deduction when you put money in. The benefit comes later because your investments grow tax-free and qualified withdrawals in retirement are also tax-free. This differs from traditional IRAs, which give you a tax break upfront but require…

Key takeaways Who you inherit a 401(k) from dictates what you can do with it. Knowing the rules for an inherited 401(k) can help you avoid taxes and penalties. If the 10-year rule applies, keep up with the dates to ensure you get the maximum value. If a loved one…

Some schools are back in session, but many families are still getting prepared for another back-to-school season — and the expenses that come with it. From tuition to backpacks and computers, parents may be looking for ways to save. Families plan to spend an average of $858 on school supplies,…

When you leave a job or retire, you need to decide what to do with your 401(k). If it’s a traditional 401(k), you can move it to a traditional IRA, where taxes are paid when you withdraw, or to a Roth IRA, where you pay taxes now but withdrawals in…

Moving away from home, making new friends and getting to class on time are some of the big changes college students face after high school. With all that this new group of adults is facing, it’s a wonder that there’s time for anything else, let alone investing. But surprisingly, college…

Tapping into your retirement savings early may seem like a risky idea, but there are many reasons why you may have to take money from your 401(k) before retirement. These accounts are meant to support you in your later years, yet unexpected financial challenges can force your hand at using…

Key takeaways A reverse mortgage allows homeowners who are 55 and older to tap their home’s equity for tax-free payments. The loan comes due when you no longer live in the home, either because you move or pass away. To qualify, you must own or have nearly paid off your…

There are many approaches to making money in the stock market, but most fall under two main categories: investing and trading. The difference between these strategies comes down to two things: time horizon (how long you’re willing to hold a position) and mindset (whether you think like an owner or…

Key takeaways Invoice factoring allows you to use your accounts receivable to qualify for funding, making them more accessible than other business loans. Factoring companies will collect the invoices directly from your customers. You pay the invoice factoring company a percentage of the invoice amount after invoices are collected. You…

Erik McGregor/Getty Images Back in 2020, the COVID-19 pandemic exploded, creating “a good amount of economic uncertainty in both the housing market and more broadly,” recalls Chase Home Lending Consumer Direct Executive Erik Schmitt. With everything from jobs to property values to interest rates up in the air, big banks…