Individual Retirement Account (IRA)
Coverage of Individual Retirement Account (IRA) in the Nexus archive.
- An IRA playbook to build wealth
The article outlines a five-stage strategy for optimizing retirement accounts (IRAs) based on life stages and tax brackets. Key strategies include using Roth IRAs for teens in 0% tax brackets, prioritizing Roth contributions during early careers, shifting to traditional IRAs during peak earnings, and leveraging Roth conversions in retirement. The focus is on minimizing IRS taxes through compounding and strategic tax-deferred growth.
- Automatic retirement plans spread as states, cities push workers to build nest eggs
Philadelphia is launching the first city-sponsored retirement plan requiring employers without existing benefits to automatically enroll workers in an IRA. Over 50 million Americans lack workplace retirement plans, and state programs have collectively saved $3 billion through automatic enrollment. Oregon initiated the first state plan in 2017, with accelerated savings growth observed in recent years.