Roth IRA Archives - Empathic Finance

It’s not enough to deposit money in your investment accounts

Posted by Mike Pumphrey on March 27, 2023 | Featured | No Comments

If you just deposit money in your investment account’s settlement fund and stop there, it could cost you hundreds of thousands of dollars. … Read More

Tags: 401(k), investing, retirement, Roth IRA, Vanguard

Simple millionaire steps: Max out your Roth IRA

Posted by Mike Pumphrey on February 27, 2023 | Featured | No Comments

The simplest and most flexible way to build millionaire-level investment wealth is through the Roth IRA. If you can max it out, you should. … Read More

Tags: investing, investment, millionaire, Roth, Roth IRA, simple

Roth, IRA, 401(k), oh my! How to figure out where to put your investment money

Posted by Mike Pumphrey on February 20, 2023 | Featured | No Comments

If you’re confused about where to put your investments and in what order, I break it down to a simple order. … Read More

Tags: 401(k), investing, investment, investments, retirement, Roth, Roth 401(k), Roth IRA

You can still save for retirement after you’ve retired

Posted by Mike Pumphrey on July 19, 2021 | Featured | No Comments

If your circumstances permit it, you can continue to save for your future for many years after your retirement. We tend to think of retirement as an event. One day you are working, and boom, the next day, you’re retired. … Read More … Read More

Tags: IRA, retirement, Roth IRA, saving, savings

If you were automatically enrolled in an IRA, would you opt-out?

Posted by Mike Pumphrey on December 28, 2020 | Featured | No Comments

A look at the state-run auto-IRA plans and whether they are a net benefit for employees who don’t have (or utilize) other retirement options. Not everyone has access to a workplace-retirement account like a 401(k). A few years ago, I … Read More … Read More

Tags: IRA, retirement, retirement plans, Roth IRA

The Roth IRA danger zone (part 4): How to withdraw an excess contribution at Vanguard

Posted by Mike Pumphrey on March 9, 2020 | Featured | 4 Comments

After having decided to remove my Roth IRA excess contribution, I went through the process at Vanguard for making it happen. More posts in this series: The Roth IRA danger zone (part 1): What to do when you almost make … Read More … Read More

Tags: Roth IRA, Vanguard

The Roth IRA danger zone (part 3): How I resolved an excess contribution

Posted by Mike Pumphrey on March 2, 2020 | Featured | 1 Comment

With a number of different ways to resolve this problematic situation, here is how I dealt with an excess contribution to a Roth IRA. More posts in this series: The Roth IRA danger zone (part 1): What to do when … Read More … Read More

Tags: contributions, excess contribution, retirement, Roth IRA, Vanguard

The Roth IRA danger zone (part 2): What to do if you contributed too much

Posted by Mike Pumphrey on July 15, 2019 | Featured | No Comments

So we talked last time about the problems with being on the threshold of the Roth IRA income limits. If you make way too much or way too little, then you know where you stand in terms of being able … Read More … Read More

Tags: contributions, Roth IRA

The folly of choosing a Roth IRA or Traditional IRA based on tax brackets

Posted by Mike Pumphrey on January 4, 2018 | Featured | No Comments

If you’re saving for retirement (and you are saving for retirement, or at least working towards it, right?) you have probably been confronted with a choice when it comes to self-directed retirement accounts: Do you use a Roth IRA or a … Read More … Read More

Tags: retirement, Roth IRA, Traditional IRA

6 example ways to invest your 15%

Posted by Mike Pumphrey on November 9, 2017 | Featured | No Comments

Save 15% for retirement. You’ve heard it all before. And now you know how you determine how to determine which investment vehicles comprise that 15%. But with so many different options and scenarios, it’s easy to get lost. So here … Read More … Read More

Tags: 401(k), investing, investment, investments, Roth IRA, Solo 401(k)

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