Everyone wants to find ways to save more for retirement, and minimizing your tax bill is the best way to make sure you hang on to as much of your hard-earned retirement nest egg as possible. One of the best ways to accomplish that goal is to open a Roth IRA, with contribution limits of up to $5,500 for those under age 50 and $6,500 for those 50 or older for 2015.
In the following video, longtime Fool contributor and retirement expert Dan Caplinger discusses the benefits of using a Roth IRA. As Dan notes, not only do Roth IRAs allow you to enjoy tax-free growth throughout your lifetime, but you can even use the Roth as an estate-planning tool to pass on tax-free treatment to your heirs as well. With the right planning, those who inherit your Roth IRA can extend it over the course of their lifetimes, adding decades to the useful life of the retirement account. The key to making the most of a Roth IRA, though, is putting the most appropriate investments into it, and Dan goes through the thought process behind how to choose which investments to make with limited Roth IRA assets.
How one Seattle couple secured a $60K Social Security bonus -- and you can too
A Seattle couple recently discovered some little-known Social Security secrets that can boost many retirees' income by as much as $60,000. They were shocked by how easy it was to actually take advantage of these loopholes. And although it may seem too good to be true, it's 100% real. In fact, one MarketWatch reporter argues that if more Americans used them, the government would have to shell out an extra $10 billion... every year! So once you learn how to take advantage of these loopholes, you could retire confidently with the peace of mind we're all after, even if you're woefully unprepared. Simply click here to receive your free copy of our new report that details how you can take advantage of these strategies.
This article was updated on September 9, 2015.