Individual retirement accounts offer a great opportunity for individuals and married couples to start their retirement savings today. There are many different types of IRAs, each with their own benefits and drawbacks. It is important to understand how each type of IRA works to pick the type of account that will best meet your current …
A spousal IRA is not a unique IRA, it’s just an allowance for a working individual to contribute to an IRA in the spouses name, if their spouse has little or no taxable income. Only people with taxable income greater than an IRA contribution can contribute to a Traditional or Roth IRA, except under the special …
Deciding whether a Roth IRA or a 401k is the better retirement account depends on your own unique situation. There is no one-size-fits-all solution for which type of retirement account is more advantageous to every person. The primary differences between the Roth IRA and the 401k plan is when you pay taxes on the contributions, …
Investors love the Roth IRA for the potential tax-free income at retirement. Who doesn’t like skimming the government from paying more tax? The rules of the Roth IRA make it a great saving tool because you have more flexibility when you can withdraw the funds. Retiring early or an unexpected emergency make the Roth IRA …
Roth IRA Withdrawal Rules, Options, and Penalties Read More »
If you have come to conclusion that you are ready to open a Roth IRA, it can be confusing on choosing the best place to setup your Roth IRA account. Jeff Rose from Good Financial Cents has created a movement he has dubbed the Roth IRA Account Movement in an effort to encourage young adults …
2010 is the year of the mighty Roth IRA conversion and many boomers are wondering if it’s the right thing to do. The sound of tax-free money is a sweet lullaby, but is it worth the up front tax expense? Everybody’s situation is different and it’s hard to say if it’s right for you. If …
Roth IRA Conversion Calculators: Should You Convert? Read More »
2010 will be an extraordinary year for tax law, a tax year so potentially advantageous that we may never see its like again. One probable 2010 phenomenon: a wave of high-income and high net worth individuals converting traditional IRAs to Roth IRAs. Many investors still aren’t if they should convert old 401k’s and traditional IRA’s to …
2010 is in full swing, and by now I’m sure you’ve heard something about the Roth IRA conversion event of 2010. All the brokerage firms are making a stir over it and maybe you’re scratching your head and wondering if its another bandwagon for you to jump on. Before you make the leap, let’s look …
It’s unanimous! Baby boomers and investors alike love the Roth IRA account. What’s not to love about having access to your contributions at any time or having tax free money for yourself at retirement or your heirs to inherit? For as many as there are that love the benefits of opening a Roth IRA, there’s …
Roth IRA Limits: Aged, Contributed, Phased Out, and Converted Read More »
Saving for retirement shouldn’t be difficult, and with the Roth IRA, it’s not. In 1998 the Roth IRA was developed with the middle class in mind. It was designed as a way for people to be able to start saving for retirement as part of the Tax Relief Act of 1997. The Roth IRA gets …