Markets are showing a pattern of extreme calm followed by periods of extreme volatility. The last 30 years of stock market performance do not appear to be normally distributed. It is very important to be able to run scenarios on severe market downturns to stress test your investments and retirement plan.

It used to be--and still is, in the case where the original owner of the IRA died before the end of 2019--that owners of traditional IRAs inherited from someone other than the original owner's spouse only had to take annual required minimum distributions. Otherwise, an IRA could be passed on, theoretically, for generations.

Taking some risks with your portfolio can lead to higher returns over time. Over time" is important; in the short run, high risk can do damage to a portfolio--and a retirement plan. Emerging markets investments have a place in most portfolios. The question is how much.

A backdoor Roth IRA is completely legal and most online brokers have systems set up to handle it. There is also no income restriction on this strategy. Here is how it works: Basically, you contribute money to a traditional IRA and then immediately convert it to a Roth IRA. The money in the Roth now gets to grow tax-free and when you withdraw the money in retirement, you won’t pay any taxes at all on the withdrawal.

High fees can take a big bite out of your investments. Index funds, with low fees and passive management, normally outperform their more expensive, actively managed peers over time. It's a good idea to review your investments on an annual basis to make sure fees are reasonable and asset class balances are where you want them.