Montgomery Community Media

Should you contribute to a Roth IRA, Traditional IRA or a 401(k)? In this video, I’ll share everything you need to know about a Roth IRA, Traditional IRA & a 401(k), to help you decide which contribution to make.

  Would you like to start saving for your child’s college? In this article, we will discuss the pros and cons of saving through a 529 college savings plan. If you live in DC, Maryland, or Virginia, we will also cover the ins and outs of the 529 Maryland, 529 DC and 529 VA plans.  […]

Do you want to know how much you can contribute to a Roth IRA this year? The main benefit of contributing to a Roth is you will be able to grow your investments tax-free. However, if you deposit money into your Roth IRA while no longer being eligible (or more than the allowable amount), the […]

Roth IRAs are a great way to grow money tax-free. However, once you reach a certain income level, you are likely no longer eligible to contribute to a Roth IRA. Luckily, you might be able to take advantage of a tax loophole that came about in 2010. Read on for the steps to create a […]

The House recently passed the Secure Act – what does that mean for your personal finances? Watch District Capital’s Alvin Carlos’s recent analysis into the ways in which the new bill (expected to be signed into law) may affect you. https://youtube.com/watch?v=UdwjXC2SaVE

Roth IRAs and Roth 401(k) plans represent one of the few tax advantaged ways for Americans to invest. These Roth investment products allow you to make an after-tax contribution into an investment account. Subject to certain terms and conditions, they also allow for tax-free growth and tax-free withdrawal of dividends, interest, and capital gains. In […]

To paraphrase Jim Morrison, summer’s almost gone. While it was hopefully fun filled and full of great memories, for many young people this summer was also a chance to earn a few dollars before heading back to college. During the summer, the labor force participation (LFP) rate among youth aged 16 to 24 generally increases. […]

This is the second installment of my two-part series on top financial mistakes to avoid in your early 30s. Earlier, I spoke of how detrimental a lack of discipline or to a written financial plan can be. In the final four mistakes below, I address the most common missteps with 401(K) investments, taxes, and insurance. 1. […]

A Roth IRA is an individual retirement plan that with certain exceptions, is similar to a traditional IRA and subject to the rules that apply to a traditional IRA. For example, to be considered a Roth IRA, the account or annuity must be designated as a Roth IRA when it is opened. A deemed IRA […]