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Self-Directed IRA: An Exotic Investment Grocery Store
This type of retirement account is meant for non-traditional types of investments, and the pitfalls can be costly. By Andy Ives The term “self-directed IRA” can be confusing, given that account owners choose whichever stock or mutual fund they want to buy within their IRA, and how much to purchase and how much to sell. A…
Read MoreHere’s how to handle the complicated rules for an inherited 401(k) or IRA
KEY POINTS If the original account owner died on Jan. 1, 2020, or later, only certain beneficiaries can stretch withdrawals across their lifetime. Others need to deplete inherited retirement accounts within 10 years of the death. Here are the details. So you inherited a retirement account. Before you make any decisions on when and how…
Read MoreWhat To Do Now To Avoid A Retirement Savings Tax Problem
If you are working with an eye towards retirement or even semi-retirement, you are probably (hopefully) saving more than you could in the past in your retirement accounts. You may have paid off the mortgage and paid for college and other heavy expenses of raising children. That all sounds like you are on your way,…
Read MoreIRA Calculation Errors
Five things that people get wrong about retirement arithmetic. There is something about retirement that leaves investors in an arithmetic fog. Maybe it’s the marginal tax rate or the compounding or the deferral that gets their numbers all jumbled up. Here are five things that people get wrong about IRAs and 401(k)s, usually because they…
Read More5 Big Issues Facing Your IRA (And How To Resolve Them)
It’s that time of year when, if you’re like most people, you begin to once again turn your attention to your IRA. The year-end statements are starting to trickle in, so you might feel the urge to re-evaluate things and perhaps make some changes. But, do you really know what you should be looking at?…
Read MorePODCAST44: Reasons to convert to a Roth
Learn how Roth IRAs can save you on taxes in retirement. Complimentary download to go with this episode:
Read More3 Reasons to Open a Roth IRA in 2021
Nearly 25 million people own Roth IRAs, according to the Investment Company Institute, but that’s a far cry from the number of Americans who could contribute to one if they wanted. While a Roth IRA isn’t the best retirement account for everyone, it has some distinct advantages that make it worth considering, especially for those…
Read MoreIRS Reduces Future Required Minimum Distributions Just A Little
The IRS recently issued proposed regulations that will reduce required minimum distributions (RMDs) on IRAs, other qualified retirement plans, and annuities. It’s a small help for retirement account owners who don’t need all the money they’re required to take from their plans each year. Most owners of IRAs and other qualified retirement plans who turn…
Read MoreWednesday Q&A Should I cash out my old 401k or roll it into an IRA?
Should I cash out my old 401k or roll it into an IRA? A Winning at Life caller has a question about what to do with an old 401k from an old job. Should he roll it into an IRA or cash out? Get Gregory’s thoughts in this clip from the show. Do you have…
Read MoreThe difference between a Roth 401(k) and a traditional 401(k), and how to decide which retirement plan is right for you
Roth 401(k)s and traditional 401(k)s are similar in many ways, but they differ in how your contributions and withdrawals are taxed. Traditional 401(k)s offer up-front tax breaks; you pay the IRS on withdrawals when you retire. With Roth 401(k)s, you pay taxes on deposits, in exchange for tax-free withdrawals later. When deciding between a Roth…
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