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Retirement Planning

Roth IRA

The Roth IRA, a popular type of individual retirement account, was created through the Taxpayer Relief Act of 1997. Unlike traditional IRAs, contributions to a Roth IRA are not tax-deductible. However, if certain IRS guidelines are followed, the earnings from a Roth IRA can be withdrawn tax-free. This makes the Roth IRA a valuable tool for saving for retirement.

Tax-Free

A tax-free account that allows for the growth of earnings through interest, dividends, and capital gains without being subject to income tax. This type of account, such as a...

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Adjusted Gross Income

Income tax liability is a crucial aspect of personal finance. As a knowledgeable professor, I want to shed light on the concept of taxable income. This is the amount on whic...

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Education IRA

A Coverdell Education Savings Account, also known as an ESA, is a tax-advantaged investment account designed to help families save for their children's education expenses. I...

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Diversification

Diversification in finance refers to the practice of minimizing risk by investing in a variety of industries or companies rather than focusing on a single industry or a smal...

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