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.

Related Videos

  • Ric Edelman: 'Avoid These Retirement Mistakes'

    Here are three retirement mistakes to avoid according to financial adviser Ric Edelman.

  • Creating A Plan for Retirement

    Financial Advisor Ric Edelman talks about how to create a plan for retirement.

  • Edelman: Don't Let Children Ruin Your Retirement

    Here are a few ways you can prevent your children from ruining your retirement.

  • T. Rowe Study Shows Roth IRAs the Clear Retirement Choice

    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

  • Top Reasons You Should Carry a Mortgage

    Financial Advisor Ric Edelman explains the top reasons for carrying a mortgage.

  • How to Execute a Successful Backdoor Roth IRA When You Make Too Much

    The backdoor Roth IRA -- It's one of most nimble personal finance tricks out there. But actually how to execute a backdoor conversion can be nebulous to the average consumer planning for retirement. Roth IRAs offer considerable advantages over traditional IRS -- namely that they don't have minimum required distributions and the money put in grows tax free along with being withdrawn tax free.

  • Should I Get a Roth IRA or a Traditional IRA?

    It's an perennial question in personal finance when it comes to retirement planning: should you get contribute to a Roth IRA or a traditional IRA? Both allow you to contribute $5,500 annually, with a $1,000 catch-up contribution for those over 50 years old.

  • How to Choose Between a SEP IRA or Solo 401(K)

    If you’re self employed, choosing a retirement plan is likely the last thing on your mind, but it doesn’t have to be difficult. The two most popular self employed retirement plans are the SEP IRA and the Solo 401k.

  • 3 Rules for IRA Rollovers

    Here's how to maximize your retirement savings when rolling an old 401(k) into an IRA.

  • The Backdoor Route to a Roth 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.

  • Tax and Retirement Tips You Must Not Forget Before Year End

    Make sure you convert to a Roth IRA before the end of the year, said Ed Slott, founder of Ed Slott and Company. Slott added that employees should max out their retirement contributions for 2014 to build tax-free savings, or in other words, 'take it off the top before you get your hands on the money'.

  • Tax Tip 2013: Roth IRA Conversions

    Kiplinger's tax experts tell you why converting a traditional IRA to a Roth IRA can make sense.

Other Advice Videos