Reports
Latest reports about Retirement Planning.
A backdoor Roth IRA allows high-income earners to contribute to a Roth IRA by making a nondeductible traditional IRA contribution and converting it, bypassing income limits. It is particularly useful for workers without an employer 401(k) who have no pre-tax IRA balances, avoiding the pro-rata rule.
Analysis of how break-even age calculations between claiming Social Security at 62, 67, and 70 influence retirement benefits claiming decisions, including limitations like longevity insurance and survivor benefits.
The Primary Insurance Amount (PIA) is the benchmark benefit at full retirement age. Early claiming permanently reduces benefits by 5/9 of 1% per month for the first 36 months and 5/12 of 1% thereafter, with a maximum reduction of 30% at age 62, while a separate earnings limit may temporarily reduce benefits if working.
