What Is a Roth IRA? Rules & How to Open One
Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.
The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.
Table of contents
- What Medicare covers
- Still deciding on the right carrier? Compare Medicare Part D Plans
- Still deciding on the right carrier? Compare Medigap plans
- What is a lady bird deed?
- Life insurance buying guide
- What is an IRS audit?
- What is a W-4?
- What is a budget planner?
- What is a brokerage account?
- Shopping for Medicare plans? We have you covered.
- 6 steps to opening a Roth IRA
- What is a tax dependent?
- What is a meme stock?
- Certified check definition
- Our Take
- What is the earned income tax credit?
- What is debt factoring?
- Find the right business loan
- When does Medicare start?
- What is loan-to-value ratio?
- What is married filing jointly?
- Nerdy takeaways about where to exchange currency
- Compare types of bank accounts
- See how to get your business started quickly
- What is a 401(k)?
- What is the average stock market return?
- About this tool
- What does deposit mean?
- What are the Roth IRA rules?
- What is a W-9 tax form?
- Definitions: Money Transfer Rates
- Find the right Medicare Part D prescription drug plan
- » This page is out of date
- Blockchain: A definition
- Checking account vs. savings account
- Key takeaways
- See CD rates by term and type
- From prison to business launch
- How to appeal a credit cut
- Why your credit scores might drop
- From little credit knowledge to real estate powerhouse
- How to safeguard your credit
- When it might not matter
- Why an issuer might reduce your credit limit
- From $50,000 in debt to financial expert
- How to minimize the chance of a cut
- 3 tips from these entrepreneurs
- What is a credit freeze?
- 1. Go to a museum, aquarium or zoo
- What is a spot Bitcoin ETF?
- 2024 child tax credit news update
- Work from home jobs often pay more
- A few questions
- What is debt-to-income ratio?
- What is an authorized user on a credit card?
- Key takeaways:
- What is a VA home loan?
- How much does a Disney+ subscription cost per month?
- Solar panel cost by state
- What is a 401(k) rollover?
- What is passive income?
- The difference between Roth and traditional IRAs
- High-dividend ETFs may generate income
- About Costco home insurance from Connect
- Does homeowners insurance cover plumbing problems?
- 1. Minimum amount to open
- 1. Review account transactions from your bank
- What is a target-date fund?
- 1. Determine how much to save for a down payment
- What is an emergency fund?
- How to buy Nvidia stock
- About Farmers home insurance
- What is inflation?
- What are dividend stocks?
- Are property taxes deductible?
- What is equity compensation?
- What is stock research?
- Where can I get IRS tax forms?
- What is a 1099?
- Hulu subscription cost
- How to file taxes for free
- The best pet insurance companies at a glance
- The cheapest car insurance companies by category
- S&P 500 index (SPX) today
- How to unfreeze credit
- What is a tax return?
- What you need to open a bank account
- 1. Spending too much
- Can you withdraw money from a 401(k) early?
- Credit reports 101
- How much does a wire transfer cost?
- 7 of the best apps to make money
- What to know before getting The Platinum Card® from American Express
- What is Schedule C?
- Cocoa prices soar with no relief in sight
- First, what type of financial help are you looking for?
- What is a solo 401(k) plan?
- What the Federal Reserve does
- 7 best-performing AI stocks
- What is a Roth IRA account?
- What is a tax ID number?
- How to get paid on YouTube
- How meme stocks work
- Mobile, manufactured and modular homes: What's the difference?
- Direct mail statistics
- Mortgage income calculator help
- Non-QM loans: flexibility at a cost
- Key findings
- 1. When your Bitcoin is taxed depends on how you got it
- Which airlines have lie-flat seats in business class
- Savings accounts
- What are brokerage fees?
- Price
- Value of Membership Rewards points at Amazon
- What to look for in a health insurance plan
- How much are millennial parents paying for child care?
- 1. Just one late payment
- 1. Not figuring out how much house you can afford
- Why would my credit score drop after paying off debt?
- 1. Certificates of deposit (CDs)
- Audible subscription cost
- How does the Fear and Greed Index work?
- Are Medicare premiums tax-deductible?
- How Hawaiian Airlines seat selection works
- 1. Medical expense deduction
- What is a savings account?
- Is 4% a high rate?
- Money market account vs. CD: The difference
- What are checking and savings accounts used for?
- Best Prepaid Debit Cards
- Investing money is personal
- What is extended replacement cost coverage?
- What is a joint venture?
- What to know about American Airlines delayed flight compensation
- Check out online broker education centers for investment courses
- January
- What is Ozempic?
- Medicare Savings Programs (Part A and Part B)
- What is GoodRx?
- Vending machine costs
- What does this value mean?
- Step 1: Check your credit
- What goes into the credit card interest calculation
- What is short selling?
- 1. Start investing as early as possible
- Understanding the basics
- The best budget apps
- ‘An expensive gamble’
- 1. Set your budget
- Create a budget plan that works for you
- Accounting basics
- How we found the best travel insurance
- In this issue
- Brace for another year of high interest rates — and prices
- How do LLC taxes work?
- What are blockchain stocks?
- How many points are needed for a free night?
- 6 ways to save money on Delta flights
- How it works
- What is the break-even analysis formula?
- Best visitor insurance for parents visiting USA
- Why use a certified check?
- 1. Find the right products to sell on Amazon
- Pros & Cons
- 1. Digitize important documents
- How does capital gains tax on real estate work?
- How does the SALT deduction work?
- What is trip cancellation insurance?
- Credit card features that function like buy now, pay later
- QuickBooks Online vs. Desktop comparison
- How we picked the best airline
- Key Findings
- What is a DUNS number?
- 1. Airlines, including Delta, aren’t required to provide compensation for delays
- Step 1: File a tax extension
- 50/30/20 budget calculator
- What is Mint?
- Most profitable small businesses
- What is second chance checking?
- First, some background
- Types of deposits
- How to start a T-shirt business: A step-by-step guide
- General advice for international money transfers
- 1. Open an IRA
- Why is having a low credit utilization important?
- What is net worth?
- Calculate your closing costs
- 1. Strengthen your financial profile
- You should feel good about buying a house if …
- What is car insurance?
- Can you refinance an FHA loan?
- Why a mortgage-free retirement is usually best
- How does leasing work?
- How we picked the best hotel brand
- Best day to book a flight
- Holding Bitcoin
- Minimum wage over time
- 1. Use taxis and rideshares safely
- Mileage Plan elite upgrades on American Airlines
- What is an IRS payment plan?
- How do CDs work?
- What is a personal loan?
- Why it’s worth it
- Rules for contributing to a 401(k) plan and a traditional IRA
- 1. Check your account statements
- Booking the trip
- How does a lady bird deed work?
- 8 steps to open a car detailing business
- What to know about AmEx Gold lounge access
- What does this value mean?
- Factors in your credit score
- 1. Credit score and credit history
- What is an IRS offer in compromise?
- 1. Gather information
- Best ways to consolidate credit card debt
- Why the IRS audits people
- 4 common check fraud scams
- Roth IRA contribution limits 2024
- How do brokerage accounts work?
- Average retirement savings balance by age
- When to sign up for Medicare before turning 65
- How does an FHA 203(k) loan work?
- 19 top franchise opportunities for veterans
- The best cheap pet insurance companies
- Medigap vs. Medicare Advantage: Overview
- Who can you claim as a tax dependent?
- Small-town business ideas
- 5 Ways to get started in real estate investing
- The 41 best online business ideas
- What is a business credit report?
- How does the lottery work?
- What is a state income tax?
- 1. It’s very similar to the Bank of America® Premium Rewards® credit card
- 8 upcoming big tech earnings dates and estimates
- Our picks for the best life insurance companies in March 2024
- 6 ways to buy Bitcoin
- 17 passive income ideas
- How to start day trading
- You booked flexible airline tickets
- Does your life insurance have cash value?
- 2. Interest rate
- Fed policy has bashed home affordability
- What the settlement could change
- 1. Think before you rebalance
- Factors affecting cost
- When can you withdraw from a Roth IRA?
- Who is required to fill out a W-9?
- How to conduct a market analysis: A step-by-step guide
- Kids don’t need an ID when flying within the U.S.
- 1. Clean up your credit
- A step-by-step guide to starting a restaurant
- Identify your servicer
- Benefits of additional cards
- Late winter and early spring
- Index fund vs. mutual fund
- Average savings account rate: 0.47%
- Home costs depend on age, condition, climate
- Understand the process, requirements
- Set your car payment budget
- Emirates' cancellation policy
- Stock chart components
- Why employers issue equity compensation
- Financial advisor fees
- Top cards for car repairs
- Investing through an HSA
- What is Medicare Supplement Plan F?
- What is the Secure 2.0 Act?
- Gift cards vs. prepaid debit cards
- Ways to pay yourself: Salary vs. owner’s draw
- Leasing basics
- Hulu Live TV cost
- Conforming loan limits
- Snapshot comparison
- Top American Express cards that don’t charge annual fees
- Guide to tipping hotel housekeeping staff
- What does it mean to invest in the S&P 500?
- How to freeze your credit with all 3 bureaus
- Summary of cash advance apps
- How to make money online
- What is the 401(k) early withdrawal penalty?
- Mint vs. NerdWallet at a glance
- 2. Read a book
- The best money-making apps
- What is the standard deduction?
- Top 10 spot Bitcoin ETFs by fee
- What are estimated tax payments?
- Why do interchange fees exist?
- Roth IRA vs. traditional IRA: What's the difference?
- Netflix subscription cost
- Types of TIN numbers
- The best life insurance for seniors in March 2024
- How does being an authorized user affect your credit?
- How does a VA home loan work?
- The best burial insurance in March 2024
- Scenario 1: You know the name of the life insurance company
- Pandemic throws off Thanksgiving plans
- How does debt factoring work?
- Medicare age and eligibility
- What is the 10-year Treasury?
- How we got here
- Who can use the married filing jointly status?
- Outlooks on tax refunds and bills
- Best place to exchange currency: Your bank or credit union
- Rolling over your 401(k): The options
- What to consider when picking your airline seat
- Roth vs. traditional IRA
- 7 high-dividend ETFs
- How to find your EIN
- Pros
- 28 ways to save money
- Should you make a lump-sum student loan payment?
- 1. Do your homework and gather evidence
- How does a 401(k) work?
- 2. Hit 'unsubscribe'
- How Insured Cash Sweep accounts work
- Why do I need an emergency fund?
- Options for cutting child care costs
- How the cards compare
- 2. Not paying ALL of your bills on time
- Ria is best for:
- What is a crypto interest account?
- IRA contribution rules
- How to invest in stocks in 6 steps
- 11 best investments right now
- Average inflation rate
- Best Medicare Part D plans
- Rite Aid
- How to earn IHG points
- Blockchain example: Bitcoin
- How do expense trackers work?
- Types of VA renovation loans
- 1. It earns rewards on gambling and betting
- What does your travel insurance cover?
- Some going into debt to pay for summer travel
- 4 steps to research stocks
- How to follow up on a job application
- Common IRS tax forms you should know about (and where to get them)
- Heating and cooling
- What is a business credit score?
- What is a 1099 form used for?
- Wells Fargo Active Cash® Card
- The rise of pet insurance
- How to consolidate your debt
- 2. Not spending enough
- How to apply for an IRS offer in compromise
- How to fill out a W-4
- Wire transfer fees by financial institution
- You don’t actually travel
- 1. How much do you want to spend on monthly payments?
- Roth IRA income limits 2024
- The best whole life insurance companies of March 2024
- Who files a Schedule C tax form?
- When will the Fed start cutting rates?
- What is the child tax credit?
- A quick answer, most of the time
- Front-end and back-end DTI
- Types of stock analysis
- 2. Minimize how much cash you carry
- 1. Affirm
- How does the earned income credit work?
- The market outlook for home buyers
- Types of bonds
- 22 popular tax deductions and tax breaks
- What is the 50/30/20 rule?
- Guardian Life insurance
- Top target-date funds with low costs for 2024
- The average stock market return isn't always average
- 1. 2% back on everything is quite good
- 529 plan rules
- How to lower your credit utilization
- Where Farmers stands out
- What is the average American net worth?
- How much are closing costs?
- What you can dispute
- Why you need a savings account
- Differences between mutual funds and index funds
- When to choose a money market account over a CD
- How to choose a checking account
- 20 high-dividend stocks
- What is the property tax deduction limit?
- What is a life insurance policy?
- How a joint venture works
- What is the Walmart MoneyCenter?
- What you need to qualify for a personal loan
- What is a mature CD’s grace period?
- Fidelity CD rates
- 403(b) vs. IRA
- Choose Ally Bank if:
- 7 free tax filing options in 2024
- ASPCA: Best for broad coverage
- Great Lakes is transferring loans to Nelnet
- 2. Categorize your expenses
- How do federal tax returns work?
- Aflac life insurance
- Where do I cash in a savings bond?
- How to short a stock in 5 steps
- Charge cards and utilization ratio
- What reasons can you withdraw from your 401(k) early?
- Common IRS audit triggers
- Credit reporting timing
- YNAB, for hands-on zero-based budgeting
- How to get Temporary Expanded Public Service Loan Forgiveness
- 3. Catch a movie
- The timeline to lower inflation
- The Gold Card’s features
- Working from home jobs are growing
- Who is a qualifying child?
- How we ranked the top life insurers
- How whole life insurance works as an investment
- Certified check vs. cashier’s check
- How the home sale tax exemption works
- Chase cards that come with trip cancellation insurance
- Steps for filling out the FAFSA if you have a deceased parent
- The best home insurance companies of 2024
- What does Disney+ include?
- AmEx Plan It
- Who needs a DUNS number?
- How to choose the best crypto wallet
- Where Costco home insurance stands out
- What’s happening to Mint?
- What are the pros and cons of second chance checking?
- Better redemption options
- 3. Applying for more credit
- Ria pros:
- 2. Getting just one rate quote
- Know what servicers can (and can’t) help you with
- Other Medicare expenses may be deductible
- What to know before leasing a car
- Why equity matters
- Why are APYs increasing?
- Best day to fly
- Enroll in a few Udemy courses
- Cash back cards
- 1. Request a balance transfer
- What is a CD term?
- TurboTax vs. H&R Block: Cost
- How to start a vending machine business: A step-by-step guide
- Grace period
- 1. Brigit: Best for budgeting tools
- How to convert American miles to dollars (calculator)
- Cheap(er) cell phone plans from Verizon, T-Mobile and AT&T
- 2. Determine your coverage needs
- How we ranked the top life insurers
- Median retirement savings balance by age
- 5 blockchain stocks to consider
- The largest banks in the U.S.
- What mobile home insurance covers
- Factors that go into your business credit score
- How state income tax rates work
- Scenario 2: You don’t know the name or whether the person had a policy
- Table of Contents
- When Medicare starts: Turning 65
- Why QuickBooks Online is a better choice
- 2. Delta will keep customers informed about delays
- Step 2: Estimate your bill, and set aside cash for interest
- Roth vs. traditional IRA: How to choose
- Cons
- 3. Monthly fee
- 3. Take a holistic view
- How does a bank work?
- 2. Use money tips to accelerate your savings
- Are my deposits safe?
- How much should I save?
- Roth IRA withdrawal rules
- Why the Chase Sapphire Reserve® wins by a nose
- 2. Cash management accounts
- How is the Fear and Greed Index used?
- Different types of life insurance
- Our take
- How to calculate the inflation rate
- What does car insurance cover?
- How individual life insurance handles suicide
- Hawaiian seat selection fees
- 2. A 529A account (ABLE accounts)
- When should you refinance an FHA loan?
- What you need to know about savings accounts
- Mortgage interest
- How about Bitcoin ETFs?
- State minimum wages in 2024
- 2. Be alert when drinking and dating
- Bluebird by American Express
- Types of equity compensation plans and benefits
- Financial advisor fees by service
- Wells Fargo Active Cash® Card
- Does a partial payment affect your credit score?
- Take advantage of the triple tax benefit
- 3 best brokers for forex trading
- 8 ways the Secure 2.0 Act affects your retirement
- Leasing has changed in the past few years
- Who gets a 1099?
- How to use the jumbo loan calculator
- Choose PNC Bank if:
- Information you need to freeze your credit
- February
- Medicare covers Ozempic for Type 2 diabetes
- Who is GoodRx best for?
- Why short a stock?
- 4 steps to spot a fake check and avoid trouble
- Reasons to cancel
- 2. And for how long are you willing to make them?
- 2. Shop for a loan
- How to choose a brokerage account provider
- How LLCs pay income taxes
- How does a Roth IRA work?
- Individual taxpayer identification number (ITIN)
- Meme stock history
- 2. Research products to sell on Amazon
- 2. Credits and perks can make up for the card’s annual fee
- 3. Look less like a tourist
- What is the SALT deduction?
- Your hotel has a friendly cancellation policy
- How investment and brokerage fees affect returns
- Best car insurance in North Carolina overall: Travelers
- Location
- What is a mega backdoor Roth?
- 2. Consider "buying the dip"
- Ria cons:
- Where Farmers falls short
- Best for low premiums: Wellcare Medicare Part D
- Holiday weekends
- Consolidation vs. refinancing
- Key findings
- Popular credit cards with travel insurance
- What doesn't count as a property tax deduction?
- Extended replacement cost vs. guaranteed replacement cost
- Give it one to two weeks, then follow up
- Biden's student loan forgiveness 'plan B' would be more targeted
- Read through Morningstar’s investing classroom
- When is a personal loan a good idea?
- Income limits for contributing to both a traditional IRA and a 401(k)
- What pet insurance costs
- How do Hyatt points compare to other hotel programs?
- Step 2: Pre-qualify and compare offers
- 3. Losing your points
- 2. Income
- Egg prices have increased 47% since August
- How much is the 2023 child tax credit?
- The Federal Reserve, mortgage rates and inflation
- When are estimated taxes due?
- Types of Elite Member Benefit Guarantees
- What is the 10-year treasury yield today?
- 2. Two factors determine your Bitcoin tax rate
- Another money-change option: Online currency converters
- 8 best hot wallets
- Airlines that don't have lie-flat seats in business class on wide-body aircraft
- Can you live off ETF dividends?
- Where Costco home insurance falls short
- Guardian Life insurance policies
- 4. Go paperless
- The pros and cons of a life insurance trust
- 4. Canceling your zero-balance credit cards
- Average net worth by age
- Roth IRA income and contribution limits 2023
- How do you calculate closing costs on a house?
- Don't make yourself poorer
- What you shouldn’t dispute
- When to choose a CD over a money market account
- How to choose a savings account
- Investing for income: Dividend stocks vs. dividend funds
- Your 3 choices during the grace period
- How to decide
- How are business credit scores calculated?
- Hulu add-ons
- Should I buy stocks when markets are at all-time highs?
- Low-Income Subsidy or Extra Help (Part D)
- Aflac life insurance policies
- How do American miles compare to other airlines?
- Who qualifies for an IRS offer in compromise?
- Final word
- Other alternatives to Mint
- 4. Play a game inside
- What is on a Schedule C form?
- How the standard deduction works
- 10 questions to ask financial advisors
- Limited FHA 203(k) loans
- Solo 401(k) contribution limits
- Who sets interchange fees?
- 1. Chase: $2.61 trillion
- A hard pull, in some cases
- Best life insurance for seniors in March 2024
- VA home loan eligibility
- Checking your business credit score
- Parents, millennials more likely to make travel plans
- Earned income tax credit 2023
- Advantages of debt factoring
- What does Chase trip cancellation insurance cover?
- Best homeowners insurance companies: Pros and cons
- The best airline of 2024
- Step 3: Prepare to pay a tax penalty, too
- Day trading strategies
- You haven’t booked nonrefundable activities
- How you can prepare for the end of Mint
- 5-year, 10-year, 20-year and 30-year S&P 500 returns
- How to fill out a W-9
- Ria transfer methods and options
- How to pay off debt and help your credit score
- 7 things to know about crypto interest accounts
- Dangers of having 'too many'
- Medicare expenses that aren’t deductible
- How to select seats on Hawaiian Airlines flights
- The best hotel program of 2024
- What is home equity?
- Using a credit card with Bitcoin rewards
- Blockchain pros and cons
- Does raising the minimum wage cause inflation?
- Deciding how much to set aside
- Best iOS personal expense tracker apps
- How do lenders determine a car payment?
- Medicare Supplement Plan F pros and cons
- What are the Walmart MoneyCenter hours?
- Does the IRS charge interest on payment plans?
- How Fidelity CDs work
- The EV landscape has changed, too
- Ally Bank vs. PNC Bank: Basic checking accounts
- 1. IRS Free File
- Short-term CDs (1 year or less)
- Am I stuck with Nelnet until my loans are paid off?
- 3. Build a budget that works for your expenses
- Pros and cons of a lady bird deed
- Debt consolidation calculator
- Key sections of an IRS tax return
- What documents do I need to cash a savings bond?
- Putting alcohol in your bag
- 3. How much are you willing to pay in upfront costs?
- Can I contribute to a Roth IRA if my income is too high?
- What are AI stocks?
- Is it a good deal?
- Working from home job ideas
- Break-even analysis example
- AmEx Platinum vs. Chase Sapphire Reserve: Deciding factors
- How to guard against certified check fraud
- 3. Earning and redeeming rewards is fairly simple
- Repayment terms may be interest-only
- 4. Share your itinerary with someone you trust
- Less ‘urgency’ to innovate for customers, skeptics say
- What to consider
- Tax credits for people married filing jointly
- Best life insurance companies: Pros and cons
- 3. Delta will rebook you on the next available flight
- First things first: Check your IRA eligibility
- Costco home insurance coverage
- Certificates of deposit
- Student loan lump-sum payment calculator
- Picking a second chance checking account
- 4. Minimum amount to avoid a monthly fee
- When to use Membership Rewards points at Amazon
- Benefits of an Insured Cash Sweep account
- Average cost of tires
- 5. Transferring balances to a single card
- How does Audible fit into your budget?
- 2. Set financial priorities
- 2. Rebalance your debts and income
- Term life insurance
- 2. Make a larger down payment
- Do research and prepare your questions
- Savings accounts with strong APYs can help your money grow
- Where do I find top savings accounts?
- Consolidating private student loans
- Cost of living has grown faster than income in the past four years
- Historical national rates
- Assess impact to your current, future employment
- 2. It can help you avoid cash advance fees
- Travelers are taking action to save money on summer vacation
- How to claim the property tax deduction
- Prepare for long-term care
- Issuer pre-qualification pages
- Do I need a 1099 form to file my taxes?
- How easy is it to earn Hyatt points?
- 21 most-shorted stocks by short interest
- 4. Redeeming points at low value
- How to get your money back
- 5. Play a game outside
- Use a budget planner
- What is a Bitcoin strategy ETF?
- Calculate your DTI
- When is whole life insurance worth it?
- How much of your income should go toward a mortgage?
- Best burial life insurance policies for 2024
- When are state income tax returns due?
- 2. Afterpay
- Who qualifies for the home sales tax exclusion?
- When Medicare starts: People living with certain disabilities
- Does Disney+ allow password sharing?
- How to get a DUNS number
- Four ways to tap life insurance cash value
- 5. Automate your accounts to meet your goals
- Why invest in target-date funds
- Fed intends a 'difficult correction'
- Mega backdoor Roth 2024
- 3. Keep down payment savings in the right account
- What won’t change
- Direct deposits
- 2. Redemption is effortless but limited
- 3. Not checking credit reports and correcting errors
- 3. High-yield money market accounts (MMAs)
- State availability
- FHA refinance options
- How does a home equity loan work?
- Joann
- When to choose a savings account instead
- Home equity loan interest
- Basic stock chart terms to know
- Personal loans for fair or bad credit
- Take a college course on investing
- See CD rates by bank
- Winner: Gift cards
- 2. Wait for the transfer to go through
- How to choose between an IRA and a 401(k)
- March
- Average daily balance
- 3. Monthly debt payments
- 3. Choose how to shop for car insurance
- You travel but don't want to 'hack'
- 3. Determine other ownership costs
- Best whole life insurance policies for 2024
- How to fill out Schedule C
- Child tax credit 2024
- Standard FHA 203(k) loans
- 3. The IRS has the paperwork you’ll need
- Where to exchange currency outside the U.S.
- 4. If you’re inconvenienced overnight, Delta will provide hotel accommodations or offer compensation
- Are brokerage fees tax-deductible?
- How to make a lump-sum payment on student loans
- 2. If a collection is on your report in error, dispute it
- 3. Remember why you chose your investments
- Where do I put my emergency fund?
- Roth IRA income and contribution limits 2024
- Our tips
- How group life insurance treats suicide
- 3. Child and dependent care credit
- Is my money safe in a high-interest, online account?
- Do all workers earn at least the minimum wage?
- 3. Look like you know where you're going
- What Medigap Plan F covers
- 2. Empower: Best for fast cash
- When is the best time to use American miles?
- Decide what type of account you want: checking vs. savings
- 2. Decide how much to invest
- 6. Volunteer
- Following accounting standards
- Best travel insurance overall: Berkshire Hathaway Travel Protection
- Retirement savings by age
- Estimated tax payments 2024
- What do interchange fees mean for cardholders?
- What can you invest in with a Roth IRA?
- How to calculate debt-to-income ratio for a mortgage
- 5 best-performing meme stocks
- How to apply for a VA home loan
- 5. Research travel advisories for destinations
- When you might choose QuickBooks Desktop instead
- Step 4: Circle Oct. 15 on your calendar
- How to invest in dividend ETFs
- It’s already included on your credit card
- Best North Carolina car insurance for your budget: Progressive
- 5. Excess withdrawal limit
- House size, style and features
- 6. Streamline your bank accounts
- Types of banks
- Drawbacks of an Insured Cash Sweep account
- 6. Co-signing credit applications
- Limitations of the Fear and Greed Index
- How to calculate your net worth
- Deducting Medicare premiums if you’re self-employed
- All year
- The value of high APYs
- Serve American Express Prepaid Debit Account
- How to buy a life insurance policy
- Who should consider extended replacement cost coverage?
- EV tech is still evolving
- Do personal credit scores affect business credit scores?
- When should I receive my 1099?
- Does Hulu allow password sharing?
- TurboTax vs. H&R Block: Features and ease of use
- When debt consolidation is a smart move
- How to convert Hyatt points to dollars
- Cheap cell phone plans from brands owned by the big three
- 5. Not transferring points
- Roth IRA contribution limits 2023
- Top 9 Bitcoin strategy ETFs by fee
- Is Solo 401(k) tax deductible? Solo 401(k) tax advantages
- Employer identification number (EIN)
- Who benefits from becoming an authorized user?
- What if you're priced out of homebuying?
- What isn’t covered by Chase trip cancellation insurance?
- Price vs. yield
- My Chase Plan
- Tax minimization approaches
- DUNS number vs. EIN: What’s the difference?
- What to look for in a new budgeting app
- Investment fee calculator
- How does a life insurance trust work?
- 3. Consider paying points
- Making the decision
- Best for member satisfaction: AARP/UnitedHealthcare Medicare Part D
- When a payoff isn't possible, minimize the mortgage
- How a savings account works: withdrawal limits
- Average interest checking account rate: 0.07%
- What services are available at Walmart MoneyCenters?
- Who is eligible for an IRS payment plan or installment agreement?
- Get personalized help
- A few caveats
- Monthly costs included in the jumbo loan calculator
- Ally Bank vs. PNC Bank: Basic savings accounts
- How to invest in the S&P 500 in two steps:
- How to unfreeze your credit
- Will Medicare pay for Ozempic for weight loss?
- Online check-in
- What are the potential drawbacks of GoodRx?
- Is it worth it to cash a savings bond?
- The risks of short selling
- How the IRS decides whether to accept an offer in compromise
- 7. Visit the farmers market
- 4. How far do you drive?
- Child tax credit expansion: What the tax deal could mean for you
- Do mortgage rates follow Fed rates?
- Where do lottery prizes come from?
- Types of state income tax
- You can be held responsible for a bad check
- Borrowers who may consider a non-QM loan
- Full Review
- When Medicare starts: General enrollment period
- Can Disney+ fit my budget?
- Guardian life insurance rates
- What to expect the stock market to return
- How to make a deposit
- When can you withdraw from your Roth IRA?
- 7. Not having enough credit diversity
- 4. Making a down payment that's too small
- How do I keep my credit score from dropping?
- Farmers home insurance coverage
- Traditional IRA deduction limits 2023-2024
- Additional car insurance coverage options
- Gather key documents
- What is private equity?
- Discount points
- Rising costs thwart debt payoff plans
- Lending Bitcoin
- 3. Rewards won’t make up for runaway spending
- Emirates' 24-hour cancellation policy
- Water
- Tips to build your credit
- How to set up an IRA
- How does Hulu fit into your budget?
- Aflac customer complaints and satisfaction
- Goodbudget, for hands-on envelope budgeting
- 4. Find the right car for you
- How do small businesses use accounting?
- Roth IRA income limits 2023
- Standard deduction 2023
- 203(k) eligible projects
- Are Roth IRAs insured?
- How many Wyndham points will I earn on hotel stays?
- 2. Bank of America: $2.34 trillion
- How do streaming services fit into your budget?
- When to use break-even analysis
- Most travelers driving to destinations, staying with loved ones
- 6. Sign up for Smart Traveler Enrollment Program
- Earned income tax credit 2024
- 2023 standard deduction married filing jointly
- Best life insurance company overall: MassMutual
- 5. You can ask for compensation
- Airlines that offer lie-flat seats on smaller aircraft
- How to day trade stocks
- How target-date funds work
- High interest rates may last for years
- 4. Look at the necessities
- W-9 form 2023: What's new
- 4. Peer-to-peer lending
- Why is net worth important?
- 3. Don’t ask for too much cash
- 1. High-yield savings accounts
- Consider seeking professional tax advice
- What fine print should I look out for?
- What eligibility requirements are borrowers still expected to meet?
- Other ways to prepare for home costs
- When possible, contact the hiring manager
- Pay yourself back later
- Top credit cards that offer preapproval without a hard pull
- So, should you lease or buy an electric car?
- One card, or more?
- Medicaid
- How do you set up a lady bird deed?
- How can I get more value from my Hyatt points?
- 6. Spending points versus paying a low cash price
- 8. Go thrift shopping
- Who should make estimated quarterly tax payments?
- Pros and cons of VA home loans
- Where does lottery revenue go?
- When Medicare starts: Special enrollment periods
- National second chance banking
- 4. Resist dipping into your other savings
- Business bank accounts with sweep options
- 3. There's no sign-up bonus
- How do I build an emergency fund?
- 8. Holding high credit card balances
- Kids need an ID when flying internationally
- When to estimate closing costs
- Resources if you or someone you know is thinking about suicide
- Kirkland’s
- Determine your deal breakers
- How to cancel an Emirates flight
- 4. Leave the Rolex at home
- More advanced stock chart terms
- How to write off property taxes if you bought or sold a house this year
- Upgrade Triple Cash Rewards Visa®
- Which life insurance policy is right for me?
- Companies that offer extended replacement cost coverage
- What Medigap Plan F doesn't cover
- Remember your CD’s maturity date
- Higher Education Act justifies plan B
- When do personal loans not make sense?
- How much should you pay yourself?
- What is a good business credit score?
- 3. Pay off your balance
- Midrange CDs (2-3 years)
- April
- How to reach Nelnet customer service
- Where Aflac stands out
- 4. Assets and additional applicants
- You're interested in travel, but you've got more pressing priorities
- What do accountants do?
- Schedule C: Tips and tricks
- When to sign up for Social Security
- What’s a spousal Roth IRA?
- Terms connected to meme stocks
- How fast does an authorized user build credit?
- 4. Flight redemptions get a 20% discount
- Where to find non-QM loans
- 3. Apple Pay Later
- QuickBooks alternatives
- The bottom line
- Where to avoid exchanging currency
- Why the Roth IRA works for many savers
- How to find another company's EIN
- Guardian Life insurance customer complaints and satisfaction
- More about these investment expenses
- Don’t limit yourself to springtime to clean up your bank accounts
- Your 401(k) plan allows after-tax contributions
- Labor costs
- What's next?
- Whole life insurance
- Block out a chunk of time for the call
- Dispute responsibly
- How much should you spend on a mattress?
- Some nontravelers cite inflation as a reason for staying home
- Are Walmart MoneyCenter services worth it?
- More details about Fidelity CDs
- Types of 1099 forms
- Does Medicare cover Wegovy?
- How has the value changed over time?
- Do I pay taxes when I cash in savings bonds?
- 3. Open an investment account
- Peace of mind
- 9. Go for a walk
- 5. How important is driving the newest model to you?
- How to open a brokerage account
- The Bitcoin ETF price war
- What does this mean for your financial decisions?
- How to invest in AI stocks
- How many banks have collapsed?
- Need more points? Loyalty is rewarded
- Fees for certified and cashier’s checks
- 7. Notify credit card companies of your travel plans
- Who is covered by Chase trip cancellation insurance?
- Quarterly category cards
- The importance of a direct 401(k) rollover
- Step 5: Relax if you’re abroad or in the military
- When travel insurance is worth it
- CD vs. high-yield savings account: At a glance
- Which plumbing problems aren’t covered?
- 9. Unemployment leading to missed payments
- Farmers home insurance rates
- 4. Take advantage of first-time home buyer programs
- Are there fees?
- How to consolidate private student loans
- Property taxes
- Many in credit card debt feel stressed, worried
- 4. Redemption options are limited
- How to invest in dividend stocks
- How AAdvantage elite upgrades work on Alaska Airlines
- ONE VIP Visa Prepaid Card
- How to set up a payment plan with the IRS
- OpenSky® Secured Visa® Credit Card
- Ally Bank vs. PNC Bank: Certificates of deposit
- Bank of America® Customized Cash Rewards credit card
- 3. EarnIn: Best for large advances
- Where Aflac falls short
- Find a bank that suits your needs
- Cheap cell phone plans from brands that resell network service
- 7. Not using your benefits
- What you pay
- W-4 form 2024
- Domestic vs. international fees
- Calculate your reduced Roth contribution
- Standard deduction 2024
- Covering your spouse under your solo 401(k)
- How to find blockchain stocks
- Other ways to build credit
- Married filing jointly vs. separately
- Skip currency exchange: Use a credit or debit card
- Discounts
- How to increase your net worth
- Exceptions to IRA contribution limits
- Inflation example
- What states are increasing minimum wages in 2024?
- Alternatives to regular savings accounts
- 5. Use (and hide) your phone strategically
- How to get a bigger property tax deduction
- 2. Free tax software
- How much to tip housekeeping
- Is it a good idea to consolidate credit cards?
- Step 3: Choose your lender and loan
- Additional functionality
- 10. Take a hike
- 5. Contact the seller or visit a dealership
- What is a meme stock ETF?
- What are the lottery payout options?
- How to qualify for the earned income credit
- Why is the 10-year Treasury yield important?
- Workers fear losing hard-fought union benefits
- 4. You can write off Bitcoin losses
- Mortgage borrowing 101
- Methodology to determine the best airline
- How to store the Bitcoin you buy
- Get more help with monthly budget planning
- More about Guardian Life insurance
- Best North Carolina car insurance for customer complaints: Auto-Owners
- Types of bank accounts and loans
- Your 401(k) lets you move your after-tax money
- 5. Get help with saving for a down payment
- What’s next?
- Types of life insurance trusts
- 10. Ignoring your credit report
- 5. Online savings accounts
- What car insurance doesn’t cover
- Additional Medicare Part D companies
- Mattress-buying tips
- Methodology to determine the best hotel
- How much to keep in your savings account
- Are there other high-yield options for savings?
- Accepting payments or tips in Bitcoin
- When a car payment doesn't fit your budget
- Hack your IRA
- Joint venture examples
- Medigap Plan F alternatives
- What else to know when buying Fidelity CDs
- Mistakes to avoid while paying yourself
- Membership Rewards cards
- Embrace: Best for many ways to save
- Does Medicare cover Mounjaro (or Zepbound)?
- Get personalized help
- How did we determine the Hyatt points value?
- Interest rate
- How flexible are American miles?
- What is a short squeeze?
- Should I file taxes now or wait for the child tax credit expansion?
- 3. Wells Fargo Bank: $1.68 trillion
- Adoption taxpayer identification number (ATIN)
- More small-business data from NerdWallet
- 5. It lacks transfer partners
- 6. Travel insurance can protect you even more
- How to open a savings account or CD
- 3. If you already paid the debt: Ask for a goodwill deletion
- Condition and needed repairs
- How to make homebuying less painful
- 5. Think about staying invested if you can
- 4. There's no 0% intro APR offer
- 5. Not looking for first-time home buyer programs
- 4. Consider a co-signer
- What do closing costs include?
- How to lease a car
- Home office expenses
- 5. There’s a credit score requirement
- Some are traveling for concerts, weddings this summer
- How to cancel an Emirates Skywards award flight
- May
- Alternatives to a lady bird deed
- How does a debt consolidation loan work?
- More about Aflac
- 8. Misunderstanding bonus categories
- Consider the costs of cashing out your 401(k)
- Additional costs for international wires
- 11. Ride a bike
- How to open a solo 401(k)
- Federal funds rate and HELOCs
- Crypto ETFs
- How to open a Roth IRA in 6 steps
- Who is a qualifying relative?
- What is a good DTI ratio?
- Alternatives to non-QM loans
- 8. Be careful with public Wi-Fi
- Medicare start date
- Citi Flex Pay
- Tax brackets and inflation adjustments
- Best life insurance company for applicants with HIV: Guardian
- Step 6: Lift your chin up
- The best times to day trade
- The bottom line
- Consumer complaints
- How to invest in target-date funds
- You should probably postpone buying a house if …
- Do you qualify for borrower defense forgiveness?
- Rising interest rates are making it harder for many to pay off debt
- 6. Dress appropriately for the culture
- Don’t overthink it
- Grace periods at some banks
- Forgiveness would occur in 2025
- Should I tip housekeeping if they don’t enter the room?
- What pet insurance pays for
- Embarkation
- What to expect when you open your new account
- Next steps: Compare and apply
- How to find the 2024 W-4
- 6. How clean do you keep your car?
- LLC payroll taxes
- How to find AI ETFs
- What is the VA loan limit?
- Disadvantages of debt factoring
- How much is the SALT deduction?
- Which trips are eligible for Chase trip cancellation insurance?
- How to find business class lie-flat seats on domestic flights
- 401(k) withdrawals
- What is a W-9 form used for?
- 5. Shop around with multiple lenders
- Be firm but polite
- Tips to find cheap flights any day of the week
- Average certificate of deposit rate: 1.81% for one-year CDs
- What to consider about equity compensation plans
- How much life insurance should I buy?
- Ally Bank vs. PNC Bank: Banking experience
- How to freeze your child’s credit
- What you’d pay out of pocket for Ozempic, Wegovy, Mounjaro or Zepbound
- Do debt consolidation loans hurt your credit?
- Shipping alcohol
- Standard deduction for those 65 or older
- Best for emergency medical coverage: Allianz Global Assistance
- Do spot Bitcoin ETFs have custodianship risk?
- How quickly could the IRS implement the child tax credit expansion?
- Refinancing with an FHA 203(k) loan
- Are 10-year Treasury notes a good investment?
- Pros and cons of a 401(k) rollover into an IRA
- How to change or cancel an EIN
- Regional and state-based second chance checking accounts
- 3. Get disability and life insurance
- Discounts
- 2. Certificates of deposit
- Alternatives to savings accounts
- Minimum wage increases
- Premium checking accounts
- FamZoo Prepaid Card
- Long-term CDs (4-5 years)
- TurboTax vs. H&R Block: Support
- How much does it cost to invest in the S&P 500?
- How to complain about Nelnet
- 4. Pick an investment strategy
- Other things to know about IRS offers in compromise
- Other ways to cut wire-transfer costs
- 12. Sleep in the woods
- 6. Inspect and test-drive the car, if applicable
- Other Roth IRA rules
- Brokerage accounts are taxable accounts
- How to calculate quarterly estimated taxes
- Medigap vs. Medicare Advantage: Coverage features
- Can I make money with meme stocks?
- What’s not covered
- 3. Decide how and where to source your products
- 9. Get travel insurance
- 4. Klarna
- Consumer experience
- Best North Carolina car insurance for ease of use: State Farm
- Ready to get started?
- You’ve got money left over for savings
- Form W-9 vs. W-4
- No-closing-cost mortgages
- Universal life insurance
- Medically necessary home improvements
- 7. Buy a local SIM card to avoid high roaming costs
- Next steps:
- Buy Medicare Supplement Plan F during Medigap open enrollment
- How to compare personal loans
- Be prepared for your CD’s maturity
- The 50/30/20 budget calculator
- When debt consolidation isn't worth it
- Step 4: Gather loan documents
- 4. Varo: Best for existing bank customers
- How did we determine the value of American miles?
- What is naked short selling, and why is it illegal?
- 9. Picking the wrong cards
- 7. Do you use your car for business?
- Why did First Republic Bank fail?
- 2023 state income tax rates and brackets
- Day trading risk management
- November mortgage rates forecast
- 5. You'll get other perks via Mastercard
- 6. High-yield checking accounts
- Travel ID requirements for kids recapped
- 6. Consider alternative types of mortgages
- Day-trading Bitcoin
- What is the median household income in the U.S.?
- How to calculate your monthly payment
- Petal® 2 "Cash Back, No Fees" Visa® Credit Card
- Brokered CDs have risks and rewards
- Do you tip concierge?
- Close your old account, if needed
- Things to consider
- EveryDollar, for simple zero-based budgeting
- Do I have to update my W-4 every year?
- 13. Gaze at the stars
- Requirements: Who qualifies for the child tax credit?
- How to choose between Medigap and Medicare Advantage
- How else can you use Wyndham points? Let us count the ways
- 4. Citibank: $1.01 trillion
- Preparer tax identification number (PTIN)
- Maximum and average DTI ratios by mortgage type
- The drawbacks of whole life insurance as an investment
- How to file a trip cancellation insurance claim with Chase
- 5. Failure to report Bitcoin can be costly
- Americans' outlook on green tax credits
- Making the call
- 4. Check your credit reports after 30 days to make sure the change was made
- Next steps:
- Bank features and services
- 5. Use collateral to secure the loan
- What is hyperinflation?
- Take notes
- Federal student loan consolidation
- What you can do if you have credit card debt
- Emirates' cancellation policy recapped
- Joint venture alternatives
- What we still don’t know
- Pros and cons of personal loans
- June
- 4. Use budgeting or expense-tracking apps
- Days in the cycle
- American Express® Gold Card airport lounge access recapped
- 10. Not using your travel credit card
- Other options
- Contributing too much to a Roth
- Who qualifies for an FHA 203(k)?
- Refinancing a VA home loan
- Who counts as a qualifying child for the earned income credit?
- How do you buy 10-year Treasury notes?
- Warehouse club cards
- Exchange frequently? Consider a multicurrency account
- 7. Your travel card may already include travel insurance benefits
- What happened to mortgage rates in October
- How much money can you put in a Roth IRA?
- Form W-9 vs. W-2
- 6. Ignoring VA, USDA and FHA loan programs
- Consumer complaints
- How to apply for borrower defense to repayment
- Wells Fargo Reflect® Card
- What are the fees for an IRS payment plan?
- Ally Bank vs. PNC Bank: Overdraft fees
- When should you freeze your credit?
- Covering weight loss drugs would be costly for Medicare
- Taking a sip down memory lane
- Where does an IRS audit take place?
- 14. Listen to music
- What do the approvals mean for Bitcoin?
- If finding ways to travel safely is your goal …
- Best life insurance company for consumer experience: Northwestern Mutual
- How to confirm if a flight has business class lie-flat seats
- Why you might prefer the Capital One Venture X Rewards Credit Card
- 3. Bonds
- How to protect against inflation
- Cheaper ways to send money
- 7. Determine which warranties are right for you
- LLC self-employment taxes
- Could we be in an AI bubble?
- Working from home tips
- If you want to score discounted Delta flights
- Building your business credit score
- Calculating capital gains tax on a home sale
- Is solar panel installation right for your home?
- Full list of the best car insurance companies in North Carolina
- Bottom line
- Consumer experience
- Consider a DIY approach — but only in some cases
- Homeowner costs that aren't tax-deductible
- Best Android personal expense tracker apps
- 8. Join solo female traveler Facebook groups
- Greenlight Prepaid Mastercard
- How much do life insurance policies cost?
- Power and lighting
- 3. Volunteer Income Tax Assistance (VITA)
- Final thoughts on hotel tipping
- The ship
- How to adjust your Form W-4
- 15. Make some music
- Why did Silicon Valley Bank fail?
- How much are lottery winnings taxed?
- Do you pay tax on T-notes?
- Barclays Easy Pay
- Bottom line: Is day trading right for you?
- Seller-paid closing costs
- Home renovation loan alternatives
- Are interest rates fixed on savings and checking accounts?
- Why do I need a business credit score?
- 5. Explore other expense-tracking methods
- How to switch plans and keep your number
- The bottom line on short selling
- Brokerage accounts vs. IRA
- Standard deduction for dependents
- Additional child tax credit
- How do I get an FHA 203(k) loan?
- 5. U.S. Bank: $646.73 billion
- Types of VA home loans
- 5. PayPal
- Can I claim the EITC without a child?
- Chase trip cancellation insurance recapped
- The best place to exchange currency at the end of your trip
- Tools for picking the perfect airline seat
- What to do with the Bitcoin you buy
- The bottom line
- Should you file a claim for plumbing problems?
- 7. Not knowing whether to pay discount points
- 6. Find the right lender
- Variable life insurance
- Where to find the best savings accounts
- Cons of a credit freeze
- July
- How to settle a dispute with Nelnet
- What's next?
- 5. Dave: Best for repayment flexibility
- 5. Understand your investment options
- 16. Make something
- What is the average and median retirement savings?
- Work from home job scams
- The bottom line
- Next Steps
- How much is mobile home insurance?
- What taxes aren’t covered by the SALT deduction?
- Interest-based passive income ideas
- Which type of life insurance should I put in a trust?
- Get tax help for complex issues
- Average money market account rate: 0.67%
- Are these the best dividend stocks?
- American Airlines delayed flight compensation recapped
- Upgrade Cash Rewards Visa®
- Two strong options with distinct strengths
- Build a CD ladder to bridge the gap
- Step 5: Submit your application and get funded
- Best for travelers with pre-existing medical conditions: Travel Guard by AIG
- How to estimate taxes for an income tax extension
- LLC sales taxes
- Fear of store closures in small towns, despite assurances
- Other insurance companies to consider
- If all else fails, complain
- Could I lose my money in a checking or savings account if the bank fails?
- Finally, enjoy your travels
- How do I get my business credit score?
- U.S. Bank Cash+® Visa Signature® Card
- 6. Look for ways to lower your expenses
- 17. Learn a new skill
- 8. Negotiate the best price
- Are FHA 203(k) loans a good idea?
- Who doesn't count as a tax dependent?
- 2024 state income tax rates and brackets
- How to claim the earned income tax credit
- Your readiness to buy a home
- Why is it called the SALT tax?
- Where to exchange currency: Frequently asked questions
- The bottom line
- Banks vs. other financial providers
- Farmers vs. competitors
- Hawaiian Airlines seats for elite members
- How applying can affect your loans
- What about Bitcoin mining?
- When can't you take the standard deduction?
- How many times can you use a VA home loan?
- Best life insurance company for coverage amounts: New York Life
- 8. Emptying your savings
- How to consolidate federal loans
- Walmart MoneyCard
- How do I make changes to an IRS payment plan?
- Co-branded travel cards
- Credit freeze or credit lock?
- Empower Personal Dashboard, for tracking wealth and spending
- 18. Exercise
- Term of the month: Sector rotation
- How much money can you make on YouTube?
- Will you owe capital gains taxes on your home sale?
- The problem with 'cents off per gallon'
- How to prevent plumbing problems
- Should I have my checking and savings accounts at the same bank?
- The bottom line on how to research stocks
- Refunds, audits and other considerations
- Should I invest in an S&P 500 index fund or S&P 500 ETF?
- August
- What do the approvals mean for other crypto investments?
- How to claim the child tax credit in 2024
- Should you invest in AI stocks?
- Why did Signature Bank fail?
- Tax breaks and credits for claiming a tax dependent
- 6. PNC Bank: $551.13 billion
- What to do if you win the lottery
- Is debt factoring right for my business?
- If you're looking to book business class lie-flat seats
- Hawaiian Airlines plane seating chart
- The future of blockchain technology
- Why a financial advisor's fee structure matters
- Figo: Best pet insurance for cats
- The cost of veterinary care
- How long should you hold on to an income tax return?
- 6. MoneyLion: Best for existing customers
- 19. Have a potluck
- Should I get The Platinum Card® from American Express?
- How to pay estimated taxes
- LLC tax forms and deadlines
- 6. Sezzle
- What are the tax rules for a Roth IRA?
- Which card should you get?
- Can I apply for an IRS payment plan myself?
- Who can access your frozen credit reports?
- 9. Maximize trade-in value, if applicable
- How much is my 2023 standard deduction?
- The bottom line
- Important considerations when opening a Roth IRA
- Consequences of an EIC-related error
- How to avoid capital gains tax on home sales
- U.S. Bank ExtendPay
- Bond Funds
- Burial insurance
- Key terms in this story
- Types of stock charts and how to read them
- Sam's Club® Mastercard®
- Compare top-rated life insurance companies
- How to get a personal loan
- Discover it® Secured Credit Card
- More reading for active investors and traders
- 4. Compare companies
- What is credit card consolidation?
- 20. Do something productive
- DTI isn't a full measure of affordability
- Manufactured and mobile home insurance companies
- Final thoughts on how to get IHG points
- The difference between interest rate and APY
- More reading for active investors
- 4. GetYourRefund.org
- Additional help
- What is the difference between a tax return and a tax refund?
- After deciding
- Alternatives to debt factoring
- 9. Applying for credit before the sale is final
- Hawaiian Airlines seat selection recapped
- What is the normal fee for a financial advisor?
- Are there drawbacks to investing in the S&P 500?
- September
- When to expect your child tax credit refund
- What’s happening with Silvergate Capital Corp.?
- Earn an audience, and earn more in the long run
- Best life insurance company for permanent life insurance: Pacific Life
- Is consolidating credit card debt a good idea?
- 21. Host a yard sale
- 10. Make the purchase
- Best for those who pack expensive equipment: Travel Insured International
- Frequently asked questions about estimated tax payments
- 7. Goldman Sachs: $463.99 billion
- How to claim lottery winnings
- If you're ready to start a budget
- More resources on investing
- TurboTax vs. H&R Block: Which one is right for you?
- 7. SoLo Funds: Best for peer-to-peer cash advances
- LLC tax tips for business owners
- What happened to Credit Suisse?
- Final thoughts on the Marriott elite benefit guarantees
- Can I still get a past year's earned income tax credit?
- Gas credit card savings calculator
- The bottom line
- Low-fee alternatives to prepaid cards
- Find the best life insurance policy for you
- Don’t count on the forgiveness plan B yet
- When are tax returns due to the IRS?
- 5. Buy your new policy (and cancel your old one)
- W-4 calculator
- 22. Engage with your community
- 2023 vs. 2024 standard deduction
- If your DTI is high
- More about whole life insurance
- What are the largest lottery jackpots ever?
- 7. Zip
- Which type of bond is right for you?
- Related articles
- Alternatives to pet insurance
- Consequences of a child tax credit error
- Other ways to make money
- What's next?
- 4. Money market funds
- Mission Lane Visa® Credit Card
- October
- PocketGuard, for a simplified budgeting snapshot
- 8. Truist Bank: $534.93 billion
- How taxes on real estate, rental, and investment sales work
- Other types of life insurance
- How the FDIC calculates national rates
- When to claim the standard deduction
- Other cheap pet insurance companies
- Understanding life insurance quotes
- Benefits and risks of a joint venture
- What else to know about Form W-4
- Are other banks are in trouble?
- Is stock picking right for you?
- The Upgrade cards
- Best life insurance company for customer satisfaction: State Farm
- Next Steps:
- 3 best cold wallets
- 10. Shopping for a house before a mortgage
- 5. Tax Counseling for the Elderly (TCE)
- U.S. Bank Shopper Cash Rewards™ Visa Signature® Card
- The bottom line
- 8. Klover: Best for no-fee advances
- State child tax credits
- What if you're not eligible?
- How do TurboTax and H&R Block compare with other providers?
- Is there an over-55 home sale exemption?
- Costco Anywhere Visa® Card by Citi
- November
- Should I take my money out of the bank?
- Alternatives to the best burial insurance
- Different types of life insurance by underwriting
- 5. Mutual funds
- Business cards
- Best for adventurous travelers: World Nomads
- What is the $500 credit for other dependents (ODC)?
- 9. Capital One: $468.23 billion
- Compare buy now, pay later apps
- Prosper® Card
- Dates that could move markets this month
- What are tax deductions?
- Best stocks for beginners
- Cash App debit card: Prepaid-like option
- So, is pet insurance worth it?
- Child tax credit vs. child and dependent care credit
- What determines your pet insurance cost?
- Other life insurance options for seniors
- More about top-rated life insurance companies
- Chase Sapphire Reserve vs. AmEx Platinum: Minor features to consider
- Should you use a buy now, pay later app?
- If you’re looking for the best seat
- What are the Roth IRA rules?
- Are we in a recession?
- 11. Underestimating the costs of homeownership
- The bottom line on how to read stock charts
- 6. MilTax
- Pros and cons of loan apps
- Visitors insurance for parents recapped
- Mastercard Installments
- Best life insurance company for older applicants: AARP
- Tips when writing your market analysis
- 6. Index funds
- Best prepaid debit cards: Summary
- How to form a joint venture in 5 steps
- MetLife: Best pet insurance for dogs
- December
- Honeydue, for budgeting with a partner
- 10. TD Bank: $366.25 billion
- More about buying life insurance as a senior
- What are prepaid debit cards?
- The bottom line on investing in stocks
- Do I need additional travel insurance?
- Capital One QuicksilverOne Cash Rewards Credit Card
- What does a 1099 employee mean?
- Are we headed for a depression?
- How to find the best mobile home insurance
- Alternative options for covering a car repair
- How to find cheap pet insurance
- 12. Miscalculating repair and renovation costs
- Prime Visa
- Best for medical coverage: Travelex Insurance Services
- The bottom line
- Best term life insurance companies of 2024
- What are tax write-offs?
- 11. BMO: $260.79 billion
- More about top-rated life insurance companies
- 7. Direct File
- Which type of life insurance should you get?
- Prepaid debit cards vs. regular debit cards
- Best whole life insurance companies of 2024
- How to make money from home
- Budgeting resources from NerdWallet
- Alternatives to the best whole life insurance
- Alternatives to buy now, pay later
- How these features differ from other BNPL options
- Capital One Platinum Credit Card
- Who might prefer AmEx Platinum over Chase Sapphire Reserve
- Why should you write a market analysis?
- The best life insurance companies in March 2024
- 7. Exchange-traded funds
- Frequently asked questions about prepaid cards
- Are cash advance apps payday lenders?
- 12. Citizens Bank: $224.96 billion
- Best no medical exam life insurance companies of 2024
- How do you claim tax deductions?
- Cards with travel insurance, recapped
- Cheapest car insurance by state
- How to compare pet insurance plans
- More about whole life insurance
- How to choose the best life insurance company
- Are apps like DailyPay and Payactiv cash advance apps?
- Methodology to identify the best budget apps
- Other home insurance companies to consider
- 13. First Citizens Bank: $213.59 billion
- 8. Stocks
- AvantCard Credit Card
- Best if you have travel credit card coverage: Seven Corners
- Pros and cons of starting a vending machine business
- Target REDcard™ Credit Card
- Nationwide: Best for exotic pets
- Alternatives to cash advance apps
- More about top-rated life insurance companies
- How to get cheap car insurance
- Final thoughts
- 14. Fifth Third Bank: $211.98 billion
- Blue Cash Everyday® Card from American Express
- Risks of getting cheap auto insurance
- More about top-rated life insurance companies
- How to make money offline
- Best for long-term travelers: IMG
- How to find the right business idea for your small town
- 15. M&T Bank: $208.61 billion
- 9. Alternative investments
- The bottom line
- Why you can trust NerdWallet
- Capital One Venture Rewards Credit Card
- Cash advance app star rating methodology
- 16. Huntington National Bank: $186.36 billion
- Capital One® Walmart Rewards™ Mastercard®
- Other ways to save money
- 10. Cryptocurrency
- Apple Card
- Pets Best: Best flexible plans
- 17. Ally Bank: $185.72 billion
- Best for travelers with unpredictable work demands: Tin Leg
- The bottom line
- 11. Real estate
- Venmo Credit Card
- PlayStation Visa Credit Card
- 18. KeyBank: $185.57 billion
- How to start a profitable business
- Best for booking travel with points and miles: TravelSafe
- How to choose the best investments in 2024
- 19. American Express National Bank: $174.80 billion
- How to choose an online business idea
- 20. HSBC Bank USA: $161.30 billion
- Spot: Best for straightforward waiting periods
- Best for group travel insurance: HTH Insurance
- How to find the best home insurance policy in five common scenarios
- Best Buy credit cards
- Off the ship
- Types of travel insurance
- Xbox Mastercard
- The bottom line
- Disembarkation
- How much is pet insurance?
- How to compare homeowners insurance
- Watch out for making money scams
- How to find the best dog insurance
- Overall observations
- What does travel insurance cover?
- How to find the best cat insurance
- What’s not covered?
- Find the best homeowners insurance in your state
- How we ranked the best homeowners insurance companies
- How much does it cost?
- How to compare pet insurance companies
- Do I need travel insurance?
- How to choose the best travel insurance policy
- What are the top travel destinations in 2024?
- More resources for travel insurance shoppers
- Methodology
- How we ranked the best pet insurance companies
What is a Roth IRA account?
A Roth IRA is an individual retirement account that takes after-tax dollars, then provides tax-free growth and withdrawals in retirement. Once you're 59 1/2 — and the account has been open for at least five years — you can withdraw from your Roth IRA without paying federal taxes.
» Ready to get started? See our top picks for the best Roth IRA accounts.
Roth IRA vs. traditional IRA: What's the difference?
The main difference between a Roth IRA and traditional IRA is how they're taxed. Roth IRAs give you tax-free withdrawals in retirement, while traditional IRAs give you a tax break when you contribute.
You can have both a Roth IRA and a traditional IRA, and your contribution strategy can depend on your needs and retirement plans. If you want an immediate tax break, consider a traditional IRA. If you like the idea of tax-free income in retirement, Roth IRAs might be a better option for you. You can read our Roth IRA vs. traditional IRA article to learn more about the differences.
» Learn more: Find the best IRA account for you
How does a Roth IRA work?
A Roth IRA works by taking after-tax dollars from a qualifying source of earned income. Money contributed to your Roth IRA could come from a job, but could also be a rollover from a Roth 401(k) plan, conversion from an existing traditional IRA or 401(k) plan, a spousal contribution, or other transfer. (More on these options below.)
Then, you’ll need to choose a broker to open your Roth IRA and select where you want to invest the money. Over a long time horizon, those investments could earn a return.
That’s where the real benefit of the Roth IRA kicks in: Your investment growth could have been taxed when it was time to withdraw the money, but because you didn’t receive a tax benefit when you funded the account, you’ll get the money tax-free. And, unlike a 401(k) or a traditional IRA, you aren’t required to take required minimum distributions (RMDs) after a certain age.
And if for some reason you need the money in your Roth IRA before retirement, you can withdraw the contributions — but not investment earnings — at any time without additional taxes or penalties from the IRS.
» See how your contributions can grow: Use our free Roth IRA calculator
What can you invest in with a Roth IRA?
There are several types of securities you could invest in using your Roth if you choose a more hands-on approach to investing. Some of them include:
Are Roth IRAs insured?
If your retirement account is with a bank that offers FDIC insurance, it is insured, but under a different category from normal deposit accounts. What this means for retirement accounts is that you still get $250,000 in insurance protection, but it’s a combined limit across any traditional and Roth IRAs held at that bank.
What’s a spousal Roth IRA?
A Roth IRA is considered a spousal Roth IRA when a working spouse contributes to the account on behalf of their partner who earns little or no income. It’s an exception to the rule where only those with earned income can contribute to their IRA.
Spousal IRAs have strict rules, including that the couple must file as “married filing jointly” on their tax returns, fall under the income limit for Roth IRAs, and have the account solely in the non-working spouse’s name.
» MORE what you need to know about spousal Roth IRAs
NerdWallet rating 4.9 /5 | NerdWallet rating 5.0 /5 | NerdWallet rating 4.1 /5 |
Fees $0 per online equity trade | Fees $0 per trade | Fees $0 per trade |
Account minimum $0 | Account minimum $0 | Account minimum $0 |
Promotion None no promotion available at this time | Promotion None no promotion available at this time | Promotion Get up to $700 when you open and fund a J.P. Morgan Self-Directed Investing account with qualifying new money. |
How to open a Roth IRA in 6 steps
1. Find out if you're eligible.
Roth IRAs have income limits, so anyone can have a Roth IRA, but the ability to contribute depends on your annual income. At higher levels, that amount is phased out and, eventually, eliminated.
For 2024, the contribution limit is to $7,000 if your MAGI is below $146,000 (single filers) or $230,000 (married filing jointly. The max contribution amount goes up $1,000 if you’re 50 or older.
At incomes above that, your contribution limit begins to phase out, until it is eliminated completely at $161,000 for single filers in 2024 and $240,000 for those married filing jointly in 2024.
» Dig deeper: Read our full guide to Roth IRA income and contribution limits
2. Decide what type of investor you are.
If you're a “do-it-yourself” investor, choose a brokerage.
You can open a Roth IRA at an online broker and then choose your own investments. This may be simpler than you think — you can build a diversified portfolio with just three or four mutual funds that are in different asset classes. When comparing brokers, look at trade commissions and the investment fees of their offered funds (also called expense ratios).
If you're a “manage it for me” or hands-off investor, choose a robo-advisor.
If you’d rather have someone pick an investment portfolio for you, you can open your Roth IRA at a robo-advisor. Robo-advisors are online services that build and maintain a diversified portfolio for you. You pay a small fee for the service, but their fees generally are far lower than a human financial advisor.
3. Choose how much you want to invest.
How much do you need to open a Roth IRA? While there generally isn’t a fee for opening a Roth IRA, there may be other costs and requirements depending on your provider and selected investments. Some brokers and robo-advisors — but not all — may require a minimum amount to open an account with them, or charge trading commissions when investments are bought and sold.
Think about your budget, your time horizon, and investing goals, and consider investing only money you won’t need in the next five years. That way, you have time to ride out any highs and lows of the market.
4. Select a provider to open your Roth IRA.
The next step in how to open a Roth IRA is to find a home for your account.
If you're a 'do-it-yourself' investor, opening a Roth IRA at an online broker makes a lot of sense. At the best brokers, you’ll find a large list of low-cost investments to choose from, including index mutual funds and exchange-traded funds. The top brokers also offer extensive retirement planning tools, robust customer service and reasonable account minimums and fees. And you maintain complete control over how your retirement funds are invested.
For 'hands-off' investors, or those who want to invest for retirement but don’t want to worry about managing their portfolio over time, a robo-advisor is an easy choice. Generally, robo-advisors hire investment pros to develop a handful of portfolios aimed at different types of investors. Some robos offer portfolios that vary based on amount of risk, with “aggressive” ones for people who want a high percentage of their portfolio in stocks and “conservative” for people who seek a less volatile investment account.
As an investor, all you have to do is open your Roth IRA, link your bank account and follow the steps the provider uses to build your portfolio. The robo-advisor then purchases the investments for you and manages the account over time.
Many robos also offer services that can help maximize your savings, such as goal-setting tools to get your finances on track, and strategies to reduce your tax bill. (Robo-advisors generally are registered investment advisors, operating under a similar structure to human investment advisors.)
5. Gather your paperwork.
So, you’ve learned all about how Roth IRAs work and even settled on a provider. Now what? It’s time to gather any paperwork or documentation you may need to set up your Roth IRA account.
Exact requirements may vary based on the financial institution, but generally, you may want to have the following information available during the sign-up process:
Access to a working email and phone.
An ID (such as a state driver’s license or a passport) to confirm your identity, address, and date of birth.
A Social Security number or tax identification number.
Proof of employment, if applicable.
The name, addresses and dates of birth of any beneficiaries you’d like to add to the account.
The name and addresses of any trusted contacts in case your account’s security is breached.
The routing and/or account numbers for the bank account you’ll use to fund your Roth IRA.
6. Pick your investments.
The last step in learning how to open a Roth IRA is to decide how to invest the money in the account. That's because a Roth IRA is just the account type, not an automatic investment. To build wealth over time, that money needs to be invested.
If you're a hands-off investor and you've opted to open your Roth IRA at a robo-advisor, that service will choose a diversified investment portfolio for you.
If you're a DIY investor, you can get that diversification on your own by building a portfolio out of index mutual funds and ETFs. To do that, you’ll want to decide how much of your money to put toward riskier investments, such as stock funds, and how much you want to keep relatively safe in, for example, bond funds and cash. This mix is called your asset allocation.
And if you get stuck? Use a model. Check out the portfolios used by robo-advisors (often displayed on their websites), then mimic them. Be sure to rebalance the investments as they shift out of the original allocation you decided on, because you won’t have robo-advisors to do it for you.
What if you're not eligible?
If your income means you don't qualify to contribute to a Roth IRA, it still might be possible to receive the tax benefits of a Roth IRA.
Two options to explore would be a Roth IRA conversion and a backdoor Roth. To do a Roth IRA conversion, funds are transferred from a traditional IRA or a qualified employer-sponsored retirement plan (such as a 401(k) plan) into a Roth IRA. If moving money that previously received a tax deduction, then the Roth conversion would be taxable, though you'd still have the benefit of taking out any investment gains in retirement tax-free.
A backdoor Roth is a form of a Roth conversion but specifically relates to high-earners who, because they can't contribute to a Roth IRA, make nondeductible contributions to a traditional IRA first and then convert it into a Roth IRA. A correctly executed backdoor Roth typically does not generate taxes, as no deduction was received for that initial contribution, but there are some caveats, including whether the investor has an IRA balance or if any gains have occurred during the transfer.
» A step-by-step guide to backdoor Roth IRAs
What are the Roth IRA rules?
Once you've opened your account, here are a few withdrawal and distribution rules you must follow:
Roth IRA withdrawal rules
You can withdraw your original contributions whenever you want, without owing any penalties or taxes, no matter how long your account has been open. That's because the money you put in is money you've already paid income tax on.
When you withdraw money from a Roth IRA, the IRS always assumes your original contributions come out first.
People at least 59 ½ years old, and who have held their accounts for at least five years, can take distributions, including earnings, without paying federal taxes.
Roth IRA withdrawal penalty
Qualified withdrawals of investment earnings in the account come out tax-free. The key here is "qualified." If you withdraw earnings before 59 ½, or otherwise don’t meet the rules for a qualified withdrawal, the IRS may want a piece of those returns, in the form of taxes and a possible penalty.
Examples of qualified withdrawals before age 59 1/2 include a first home purchase, qualified education expenses, health insurance premiums while unemployed, disability-related expenses, having a baby or adopting. Be sure you understand all the rules of these exceptions.
» Get a better understanding of Roth withdrawal rules
On a similar note...