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Having a conversation with parents about their finances is an essential step in helping to ensure their financial well-being as they get older.
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Roth accounts offer no current-year tax benefit, but they can provide tax-free retirement income.
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High earners may not be eligible to contribute to a Roth IRA, but some people can use a workplace plan to save more and create a source of tax-free retirement income.
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An employee stock ownership plan is a qualified retirement plan that enables a business owner to gradually transfer ownership shares to employees, setting up opportunities to cash out in the future.