Edelman: 'Diversify Your Retirement Account, Don't Day Trade It'
Retirement plans must include stocks, especially when interest rates remain low, nevertheless, 401ks and IRAs are not for market-timing or day-trading, says Ric Edelman, author of "The Truth About Retirement Plans and IRAs". Edelman says individuals must think long term when it comes to their retirement plans and let diversification do the work as opposed to changing strategies on a daily basis.
The benefits of tomorrow's tax-free retirement withdrawals with a Roth IRA far outweigh the benefits of today's tax-deduction with a traditional IRA, says Stuart Ritter, Sr. Financial Planner at T. Rowe Price. According to recent T. Rowe Price customer data, investors under 34 years of age have over eight times more money in Roth IRA accounts than traditional IRA accounts. And within that group, investors between ages 18-24 have over sixteen times more money in a Roth IRA than a traditional IRA
High earners can’t contribute directly to popular Roth individual retirement accounts. But there’s still a way in. We explain a simple two-step strategy that works for many people. WSJ's Karen Damato explains.
In this video, AAA’s director of Financial Services, Bill Gerhard, explains what an Individual Retirement Account (IRA) is, and what the advantages and differences are between a Roth IRA and a traditional IRA. In this video he explains the rules for saving through an IRA.