Dear Olga: What is the difference between a Traditional IRA and a ROTH IRA?

Dear Olga, I am unemployed and not sure if I should keep my 403 from my former employer as it is or roll it into an IRA. Thank you, Kim Dear Kim, Unemployment brings so much uncertainty about the future and the lack of funds can be very stressful. Earlier this year, I wrote a blog post about dealing with financial setbacks. You can read the advice here. Before going into my advice, I urge you to think about what you're trying to achieve with this transactions. Your intentions

Dear Olga, I'm graduating college and about to start my first full-time job! What advice do you have for me in terms of budgeting and investing? Thank you, Dasani Congratulations, Dasani! What an exciting time!!! I believe when you go through a transition in your life, like a new job or a new chapter altogether, it's a good time to work on new habits. That includes your budget! Two weeks ago, I had a question about creating a budget. I won't rewrite the article, but you can f

Dear Olga, Can you give me tips to start planning for retirement when my full time job does not provide me with a retirement plan? Thank you, FBR Dear FBR, I recently explored how many employers provide 401k plans in a blog post and about only 56% of employers actually provide a 401k account as a benefit for their employees. I'm glad you asked this question, because you're not alone. For those folks who don't have a 401k plan provided by an employer or you're a freelancer, th

We've all seen the generic blanket advice, laid out like a cookie cutout to be read by countless eyes. Usually told very matter of fact, as something you should have known. "By the age of 30, you should have an entire year of salary put away in savings." Fidelity has a nice summary of this what-you-"should"-be-saving advice: Personally, this is the first time I heard this advice. Considering I'm hearing it a week before my 30th birthday is not very reassuring! 😅 I believe we

Dear Olga, My retirement savings are in annuities and I'm wondering if I should keep them there. Ray Dear Ray, Before deciding what to do with your retirement savings, first it's important to understand what annuities are and their benefits. An annuity is a sum of money guaranteed to be paid out periodically to an individual over a span of time. Most financial advisors view annuities as supplemental savings for retirement, especially if you max out your 401k or IRA contributi