There’s a lot to like about Roth IRAs. After all, who wouldn’t like the chance to have the money in your account grow tax-free? However, most retirement assets are held in tax-deferred accounts like Traditional IRAs. So, to take advantage of the potential tax-free growth that Roth IRAs offer, you need to get your money into a Roth IRA. And since there are limits to how much you can contribute to a Roth IRA, that can be easier said than done. That’s where Roth conversions come in.

For most things in life, having a plan is one of the best ways to set yourself up for success. It should come as no surprise, then, that having a financial plan for retirement is one of the keys to helping you reach your retirement goals.

We know that too much personal debt can undermine your financial security. What’s less clear is how the national debt can impact your finances. The total national debt of the U.S. reached $28 trillion as of April 1, 2021–and it’s growing. This equates to over $85,000 for every living person in the U.S.

Saving when you’re young can have major benefits for your overall financial plan. As shown in Figure 1 below, starting at age 25, if you save just $381 every month, you’ll reach $1 million by the time you turn 65, assuming a hypothetical 7% compounded rate of return. But the longer you wait to save, the more you need to put away every month to reach that same goal.Figure 1. Monthly Savings to Reach $1 Million by Age 65

Saving for retirement can feel like an overwhelming task. How much do you need to save? How much can you really afford to put away and still live the life you deserve today? How does anyone make it work?

During your working years, you typically have a good sense of how much you’ll earn each month. This allows you to fairly accurately forecast, based on your budget, how much cash flow you need to pay your bills and, hopefully, have some leftover to save for the future.

It’s easy to assume that financial choices boil down to one’s preferences. While personal preferences, goals and priorities should drive most financial decisions, they often can convert a good intention into a mistake. Conversely, those mistakes may lead you astray: Setting the wrong goals, adopting the wrong strategies, and utilizing the wrong tactics. And unfortunately, when the stakes are high (such as with your retirement), many mistakes may be unfixable.

On your wedding day, you took your partner’s hand and promised to be by their side every day for the rest of your lives. And so far, that may be exactly what you’ve done. But now, with retirement looming, you’re readier to take that leap than your spouse. So, what are you supposed to do?

According to a recent AICPA study, the number one concern for their clients with respect to retirement planning is running out of money. In fact, 30% of their clients listed it as their top concern.

When considering the unfortunate reality that about 50% of marriages end in divorce, many people who are at or nearing retirement find themselves in the position of figuring out the Social Security benefits they are entitled to as a