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There’s been a lot of talk lately about converting traditional IRAs to Roth IRAs. This talk arises from the 2017 Tax Cuts and Jobs Act. The new tax law, commonly referred to as “Trump’s Tax Cut,” created historically low tax rates. There’s a quirk in the 2017 Tax Act that shouldn’t be overlooked. Those historically low tax rates don’t last forever. Unless Congress passes a new tax law, in 2026 the current low rates will increase automatically to the previous high rates. By Chris Carosa via Forbes with contribution from Luis F. Rosa, CFP® EA

The financial advice profession has often fallen short when it comes to serving young people, people of diverse backgrounds and low-net-worth households. That’s because one of the longtime draws of financial advice is earning above-average income by offering services to the wealthy. But younger advisors today see more than that—they see opportunities serving those groups who aren’t being served. By Christopher Robbins via Financial Advisor Magazine.

Older millennials are quickly approaching the sandwich generation phase: taking on greater responsibility for older relatives while also caring for young children. As baby boomers begin to retire, some will need the support of their adult children. In some cases, it may make sense to consider claiming your parent as a dependent on your taxes. By Sophia Bera, CFP® via Gen Y Planning with contribution from Luis F. Rosa, CFP® EA

If you're looking for an easy way to budget your money, financial planners recommend "bucketing." Separating cash into different "buckets" for specific purposes — retirement, travel, or an emergency fund— allows you to clearly see how much is going toward each goal. Setting up automatic contributions can make funding each bucket, or account, virtually effortless. It’s just a decidedly unfashionable term for organizing your money in a way that helps you cover expenses, avoid consumer debt, and save a portion of your income to fund whatever goals you’re working toward. By Tanza Loudenback via Business Insider with contribution from Luis F. Rosa, CFP® EA

With a new job comes plenty of paperwork, and if you’re lucky, one of those documents will be about starting a 401(k). It just may not seem like a blessing at the time. Although the option to invest in an employer-sponsored retirement plan is a great benefit to employees — and not available to many workers — individuals may put off or completely shy away from participating if they don’t understand what they need to do. By Alessandra Malito via @MarketWatch with contribution from Luis F. Rosa, CFP® EA.

Would you keep working longer than you want to, or under-fund your own retirement, if it meant your children wouldn't have to take on student loan debt? A lot of millennials would be willing to make the sacrifice. By Megan Leonhardt via CNBC Make It with contribution from Luis F. Rosa CFP® EA