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.
Simple employee pension plans, or SEP IRAs, are geared towards individuals who are self-employed, partners, and owners of corporations. These plans provide a low-cost and simple retirement savings option for people in these positions. These plans offer higher contribution limits than a traditional or Roth IRA. Administration … 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
The Setting Every Community Up for Retirement Enhancement (SECURE) Act is touted to help Americans save for retirement. But, a few “enhancements” might compel you to contact your senator to express concern (after you pick your jaw up off the floor). For instance, inherited IRAs would be … Read More
IRAs are one of several ways you finance your retirement. You may have a pension plan and/or Social Security benefits along with personal savings, but IRA tax benefits play a critical role in your savings strategy to retire in style.
It is well known that the savings you … 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
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
We all want it—enough money to finance our lives in our later years. That dream home where we can retreat to after a long day of playing golf, or whatever it is we do when we retire. We want to retire comfortably. We want to be worry … Read More