Tag: IRA

Senior woman doing finances at home

The brief’s key findings are: As part of tax reform, Congress considered changes to 401(k)s that would require most new contributions to go to a Roth, rather than a traditional, account. This budget gimmick would help pay for tax cuts because Roths are taxed up-front, rather than in retirement. Such a change, however, could also…

Businesswoman watering a bar graph that is showing an increase with an upward arrow

The Federal Reserve recently released the 2016 Survey of Consumer Finances (SCF), a triennial survey of a nationally representative sample of U.S. households, which collects detailed data on their assets, liabilities, and demo­graphic characteristics.  It is considered the gold standard of information on income and wealth.  Overall, this year’s report, unlike those in 2013 and…