Real estate IRAs are popular with people who want diversity and leverage against potential losses in the stock market. You can choose your own assets including commercial and residential property, raw land, as well as tax liens and deeds.
Millions of investors are seeking professional advice for investing trillions of dollars in U.S. retirement assets. Understanding and embracing self-directed IRAs means a new source of clients, investors, and capital.
Education savings accounts (ESAs) are cool little tools that allow you to save and accrue tax-sheltered income for your child’s education. The benefits of a self-directed education savings account work the same way. But a self-directed account allows you to use alternative investments instead of traditional stocks, … Read More
A health savings plan is a fantastic tool that can lessen the burden of health care costs now and in the future when you retire. To qualify to contribute to a health savings plan, you must be enrolled in a high-deductible healthcare plan (HDHP). And, while the … Read More
There is currently a bill in the Senate designed to help more Americans save for retirement. While the SECURE Act does pose a few regulations to help the average American do exactly that, there’s one provision that has alarm bells ringing. (If yours aren’t yet, they should … Read More
The purpose of a Roth IRA is for you to save for retirement. However, the IRS allows a bit of flexibility within these accounts that make them highly attractive. For example (and providing you qualify) you can take penalty-free withdrawals for buying a home for the first … Read More
There are a few different ways you can roll over 401(k) funds into an IRA. But if you don’t follow the rules you can expect the money you take from your account to be taxed and penalized. And, there’s no fun in that.
You can choose to move … Read More
The deadline to file your income taxes is right around the corner! If you're looking for a way to reduce your taxable income, there are a few retirement plans the IRS allows you to open and contribute to up to the day you file and have that … Read More
You’d think that you’d remember to take your required minimum distribution (RMD). But, too often many people do, especially if you’re working past retirement age and don’t need those funds to live on. If you forgot to take an RMD, if you catch it before you file … Read More
This is an excellent question. What happens if you contributed more to your IRA than allowed? Often, these mistakes are caught around the time your trusty CPA is preparing your taxes. Hopefully, they catch the error in time to make adjustments that may ease the 6 percent … Read More
As you know, the IRS raised contribution limits on some retirement plans. This is good news, because the more you can sock away, the more compound interest works for you. Additionally, depending on the type of account you have—contributions are tax-deductible, which can decrease your income tax … Read More
Investing in cryptocurrency, especially Bitcoin, was at the forefront of news in the financial world in 2017 because of its record-breaking rise. However, 2018 proved to be somewhat of a disappointment for some cryptocurrency investors as it entered a bear market, producing one low after another. But … Read More