Wealth Creation

Getty Images

Thinking of Paying for Long-Term Care from Your IRA? Think Again.

Chances are a big portion of your retirement savings are in pretax accounts like a 401(k) or IRA. If you need to tap those accounts for costly care, you must realize that every dollar is taxable. And you might be shocked at the tax rates that come with withdrawals large enough to foot the bill.

Must Reads

Contributing Adviser

Are Income Annuities Fair?
Jerry Golden, Investment Adviser Representative
Contributing Adviser

How Transfer-on-Death Accounts Can Fit Into Your Estate Planning
Timothy Barrett, Wealth Adviser
Contributing Adviser

Twitter Trouble: Social Media Gets Robo-Advisers in Hot Water
Marianna Shafir, Esq.
Contributing Adviser

Have You Been Duped?
H. Dennis Beaver, Esq.
Contributing Adviser

Why Retirement Planning Must Start at the End (and Why Many Do It Backward)
Mark Fried, Investment Adviser Representative
Contributing Adviser

7 Traits Shared by Every Good Financial Adviser
Jaime Eckels, CFP
Contributing Adviser

How to Start Saving for Your Child's College Education
Jamie Letcher, CRPC
Contributing Adviser

How the Tax Cuts and Jobs Act Will Impact Tax Planning in 2019 and Beyond
Casey Robinson, CFP
Contributing Adviser

Selecting the Right Trustee and Protector for a Substance Abuse Trust
Martin J. Hagan, J.D.
Contributing Adviser

3 Lost Tax Deductions That Might Surprise You
Jamie P. Hopkins, Esq., CFP, RICP
Contributing Adviser

Investing in the Millennial Economy: Think Fast, Act Fast
Joseph C. Conroy, CFP
Contributing Adviser

Junk Bond Funds Don't Belong in Long-Term Portfolios
Lorraine Ell, CEO
Contributing Adviser

Not Sure If You Will Owe on Taxes in April? Here's What to Do Now
Lisa Brown, CFP®
Contributing Adviser

The Do Over Trust: Protecting Your Adult Children from Themselves
Jeffrey M. Verdon, Esq.
Contributing Adviser

Dealing With People Who Say Yes but Mean No
H. Dennis Beaver, Esq.
Contributing Adviser

4 Myths about the ADA that Could Cost You a Lot of Money
H. Dennis Beaver, Esq.
Contributing Adviser

It's Never Too Late for These 5 Financial Resolutions
Kelly LaVigne, J.D.
Contributing Adviser

Age Targets: How Much Should You Have Saved for Retirement By Now?
Roger A. Young, CFP®
Contributing Adviser

Is It Time to Bail on Bonds?
Michael Andersen, Investment Adviser
Contributing Adviser

What's the IRA Mistake Almost All Retirees Make?
Keith Gebert, Chartered Retirement Planning Counselor
Contributing Adviser

How to Survive the 'Retirement Red Zone'
Kristian L. Finfrock, Investment Adviser
Contributing Adviser

When Athletes Go From 0 to 60: Managing a Sudden Influx of Wealth
Kevin M. Monroe, Investment Adviser Representative
Contributing Adviser

The 7 Most Common Social Security Mistakes
Scot Landborg
Contributing Adviser

How to Prepare for Volatility and a Possible Recession in 2019
Glen Smith, CFP®, CRPC®
Contributing Adviser

An Easy Way to See If You Have Enough Saved to Retire
Ken Moraif, CFP®
Contributing Adviser

Get Your Grandkids in the Giving Spirit by Volunteering Together
Neale Godfrey, Financial Literacy Expert
Show More Stories