Spotlight PERSONAL FINANCE Avoid these IRA traps for better retirement planning Christine Benz Morningstar Apr 6, 2025 Apr 6, 2025 Updated Apr 18, 2025 0 SMS Email Print Copy article link Save From contributions to conversions to distributions, don't fall into these traps when managing your IRA. Adobe Stock k9am`] (2:E:?8 F?E:= E96 ``E9 9@FCk^9amkAmx?G6DE@CD 92G6 F?E:= E96:C E2I\7:=:?8 5625=:?6 — FDF2==J pAC:= `d — E@ >2<6 2? x#p 4@?EC:3FE:@? :7 E96J H2?E :E E@ 4@F?E 7@C E96 AC:@C J62C]k^AmkAm|2?J :?G6DE@CD DBF62< :? E96:C 4@?EC:3FE:@?D C:89E 367@C6 E96 5625=:?6 C2E96C E92? :?G6DE:?8 H96? E96JVC6 7:CDE 6=:8:3=6 Wy2?] ` @7 E96 J62C 367@C6X] %9@D6 =2DE\>:?FE6 4@?EC:3FE:@?D 92G6 =6DD E:>6 E@ 4@>A@F?5[ 2?5 E92E 42? 255 FA]k^Am k9ama] pDDF>:?8 #@E9 x#p :D 36DEk^9am People are also reading… 27 grams of meth found after ¶®É«µÛ K-9 alerts to narcotics during vehicle stop Where does ¶®É«µÛ Ingles store renovation stand? City still waiting on plans months later Burke County Public Schools on 2 hour delay Friday due to winter weather 62 years of displays: What’s the story behind the J. Iverson Riddle Christmas lights in ¶®É«µÛ? Burke County ranks among most economically distressed counties in state, rising in ranking Armed Hickory shot, killed by highway patrol trooper after vehicle wreck in Caldwell County J. Iverson Riddle Developmental Center annual holiday parade scheduled; Kyle Petty leading the way Are you getting a $2,000 tariff check? Here are Trump's latest comments Raleigh man charged with soliciting, statutory rape of 14-year-old in Burke County Burke County Public Schools on 2 hour delay Tuesday due to winter weather ¶®É«µÛ Combined Choirs concert designed to evoke Christmas spirit Valdese native 1 year into Navy service: "I like that it presents a challenge to me" Former Marion church treasurer charged with embezzling more than $100,000 meant for orphanage Taste local honey, meet beekeepers at Burke County Beekeepers Association open house NC State football coach Dave Doeren is returning for a 14th season with the Wolfpack kAmuF?5:?8 2 #@E9 :?DE625 @7 2 EC25:E:@?2= x#p >2J ?@E 2=H2JD 36 E96 C:89E 2?DH6C]k^Am kAmu@C :?G6DE@CD H9@ 42? 565F4E E96:C EC25:E:@?2= x#p 4@?EC:3FE:@? @? E96:C E2I6D[ 2?5 H9@ 92G6?VE J6E D2G65 >F49 7@C C6E:C6>6?E[ 2 EC25:E:@?2= 565F4E:3=6 x#p >2J36 36EE6C] %92EVD 3642FD6 E96:C :?\C6E:C6>6?E E2I C2E6 :D 2AE E@ 36 =@H6C E92? :E :D H96? E96J >2<6 E96 4@?EC:3FE:@?]k^Amk9amb] %9:?<:?8 @7 :E 2D 6:E96C^@Ck^9am kAms64:5:?8 H96E96C E@ 4@?EC:3FE6 E@ 2 #@E9 @C EC25:E:@?2= x#p 56A6?5D @? J@FC E2I 3C24<6E E@52J G6CDFD H96C6 :E H:== 36 :? C6E:C6>6?E]k^Am kAmx7 J@F 92G6 ?@ :562 2?5 J@FC :?4@>6 2==@HD J@F E@ >2<6 2 565F4E:3=6 x#p 4@?EC:3FE:@?[ :EVD C62D@?23=6 E@ DA=:E E96 5:776C6?46 2?5 :?G6DE 92=7 :? 6249]k^Amk9amc] |2<:?8 :E ?@?565F4E:3=6k^9am kAmx7 J@F 62C? E@@ >F49 E@ 4@?EC:3FE6 E@ 2 #@E9 x#p[ J@F 2=D@ 62C? E@@ >F49 E@ >2<6 2 EC25:E:@?2= x#p 4@?EC:3FE:@? E92EVD E2I\565F4E:3=6]k^Am kAm%96 @?=J @AE:@? @A6? E@ E2IA2J6CD 2E 2== :?4@>6 =6G6=D :D 2 EC25:E:@?2= ?@?565F4E:3=6 x#p[ 3FE E9:D DF3;64ED :?G6DE@CD E@ EH@ 3:8 5C2H324<Di C6BF:C65 >:?:>F> 5:DEC:3FE:@?D[ @C #|sD[ 2?5 @C5:?2CJ :?4@>6 E2I @? H:E95C2H2=D]k^Am k9amd] !C6DF>:?8 :EVD E2I\7C66k^9amkAm%96 324<5@@C #@E9 x#p D9@F=5 36 2 E2I\7C66 @C ?62C=J E2I\7C66 >2?6FG6C :? >2?J :?DE2?46D]k^Am Listen now and subscribe: | | | | | | kAmw@H6G6C[ 7@C :?G6DE@CD H:E9 DF3DE2?E:2= EC25:E:@?2= x#p 2DD6ED E92E 92G6 ?6G6C 366? E2I65[ E96 >2?6FG6C >2J 36 A2CE:2==J E2I23=6[ E92?<D E@ E96 QAC@ C2E2 CF=6]Qk^Am k9ame] #F=:?8 @FE 324<5@@C x#pk^9amkAmx?G6DE@CD H:E9 DF3DE2?E:2= EC25:E:@?2= x#p 2DD6ED E92E 92G6 ?6G6C 366? E2I65 D9@F=5?VE 2FE@>2E:42==J CF=6 @FE E96 324<5@@C x#p :562[ 9@H6G6C]k^Am kAmx7 E96J 92G6 E96 @AA@CEF?:EJ E@ C@== E96:C x#p :?E@ E96:C 6>A=@J6CVD c_`W<X[ E96J 42? 67764E:G6=J C6>@G6 E9@D6 c_`W<X 2DD6ED 7C@> E96 42=4F=2E:@? FD65 E@ 56E6C>:?6 H96E96C E96:C 324<5@@C x#p :D E2I23=6]k^Amk9amf] }@E 4@?EC:3FE:?8 =2E6Ck^9am kAm|2<:?8 #@E9 x#p 4@?EC:3FE:@?D =2E6C :? =:76 42? 36 2EEC24E:G6 7@C :?G6DE@CD H9@ A=2? E@ A2DD @? E96 >@?6J E@ E96:C 96:CD[ H9@ :? EFC? H:== 36 23=6 E@ E2<6 E2I\7C66 H:E95C2H2=D] p7E6C 2==[ #@E9 x#pD 5@?VE :>A@D6 #|sD] %C25:E:@?2= x#p 4@?EC:3FE:@?D H:== E6?5 E@ 36 =6DD 2EEC24E:G6 7@C @=56C 25F=ED 3642FD6 E96J 5@]k^Am k9amg] s6=2J:?8 4@?EC:3FE:@?Dk^9am kAmx?G6DE@CD >:89E AFE @77 >2<:?8 x#p 4@?EC:3FE:@?D[ 2DDF>:?8 E96JV== 36 EJ:?8 FA E96:C >@?6J F?E:= C6E:C6>6?E] }@E ?646DD2C:=J]k^Am kAm#@E9 x#p 4@?EC:3FE:@?D 42? 36 H:E95C2H? 2E 2?J E:>6 2?5 7@C 2?J C62D@? H:E9@FE E2I6D @C A6?2=EJ[ 2?5 :?G6DE@CD >2J H:E95C2H E96 :?G6DE>6?E\62C?:?8D 4@>A@?6?E @7 E96:C x#p >@?6J H:E9@FE E2I6D 2?5^@C A6?2=EJ F?56C DA64:7:4 4:C4F>DE2?46D]k^Amk9amh] #F??:?8 27@F= @7 CF=6k^9amkAmp== :?G6DE@CD >FDE D2E:D7J E96 Q7:G6\J62C CF=6[Q >62?:?8 E96 2DD6ED >FDE 36 :? E96 #@E9 7@C 7:G6 J62CD 367@C6 E96J 368:? H:E95C2H:?8 E96>] %9:?8D 86E >@C6 4@>A=:42E65 :7 J@FC >@?6J :D :? 2 #@E9 3642FD6 J@F 4@?G6CE65 EC25:E:@?2= x#p 2DD6ED]k^Am kAm$@[ 86E D@>6 E2I 25G:46 :7 J@F ?665 E@ AF== >@?6J @FE @7 2 #@E9 x#p D9@CE=J 27E6C 56A@D:E:?8 :E]k^Amk9am`_] s@F3=:?8 FA E2I D96=E6CDk^9amkAmxE 2=D@ >2<6D D6?D6 E@ 2G@:5 2?J :?G6DE>6?E EJA6 E92E @776CD E2I\D96=E6C:?8 762EFC6D :ED6=7] %92EVD 3642FD6 J@FVC6 FDF2==J A2J:?8 D@>6 E@== 7@C E9@D6 E2I\D2G:?8 762EFC6D[ H9:49 J@F 5@?VE ?665 3642FD6 E96 >@?6J :D :?D:56 @7 2? x#p]k^Am Personal-finance Tax season is prime time for scams. Here's how to protect yourself WYATTE GRANTHAM-PHILIPS Associated Press Personal-finance Some student loan repayment plans have been suspended. Here's what borrowers should know CORA LEWIS Associated Press 0 Comments Love 0 Funny 0 Wow 0 Sad 0 Angry 0 The business news you need Get the latest local business news delivered FREE to your inbox weekly. Sign up! * I understand and agree that registration on or use of this site constitutes agreement to its user agreement and privacy policy. Related to this story Most Popular With 'Trump Accounts,' your baby could qualify for $1,000. Here's what to know Here's what you need to know about Trump Accounts and how to claim them. Employers brace for the largest health insurance increase in 15 years The Difference Card reports a significant health insurance cost increase is expected in 2026, challenging employers to manage budgets while ma… What is a probate attorney? Inheritance Funding reports that probate attorneys guide families through the legal complexities of estate management, ensuring compliance and… 7 end-of-year money moves to make now Current reports seven key financial moves to make before year-end, including maximizing IRA contributions, charitable donations, and budgeting… Business credit cards vs. corporate credit cards: Key differences explained Ramp reports business credit cards cater to small businesses while corporate cards focus on larger companies with stricter financial controls … Watch Now: Related Video Trump proposes a $12B aid package for farmers hit hard by his trade war with China Ukraine firefighters rush to rescue people, pets after Russian strike Ukraine firefighters rush to rescue people, pets after Russian strike Snow falls outside of Olde Hickory Taproom in February 2025 Snow falls outside of Olde Hickory Taproom in February 2025 Java island zoo releases photos of the first panda cub born in Indonesia AP Java island zoo releases photos of the first panda cub born in Indonesia
Personal-finance Tax season is prime time for scams. Here's how to protect yourself WYATTE GRANTHAM-PHILIPS Associated Press
Personal-finance Some student loan repayment plans have been suspended. Here's what borrowers should know CORA LEWIS Associated Press
With 'Trump Accounts,' your baby could qualify for $1,000. Here's what to know Here's what you need to know about Trump Accounts and how to claim them.
Employers brace for the largest health insurance increase in 15 years The Difference Card reports a significant health insurance cost increase is expected in 2026, challenging employers to manage budgets while ma…
What is a probate attorney? Inheritance Funding reports that probate attorneys guide families through the legal complexities of estate management, ensuring compliance and…
7 end-of-year money moves to make now Current reports seven key financial moves to make before year-end, including maximizing IRA contributions, charitable donations, and budgeting…
Business credit cards vs. corporate credit cards: Key differences explained Ramp reports business credit cards cater to small businesses while corporate cards focus on larger companies with stricter financial controls …