A SIMPLE IRA stands for Savings Incentive Match Plan for Employees, it’s a type of retirement account for small businesses, and for people who are self-employed. It works like a Traditional IRA, where your contributions grow tax-deferred. When it comes time for retirement, your distributions are taxed as normal income. SEP IRA vs. SIMPLE IRA […]
Why Not Both? Operating a 401K and an IRA Simultaneously
If you contribute to your 401K account, you may still contribute to a Roth IRA and/or a traditional IRA, as long as you meet the IRA’s eligibility requirements. However, if you wish to contribute to a traditional IRA and take a tax deduction for that contribution, depending on your income, your contribution to your employer’s […]
Self-Directed IRA Rollover Terminology Broken Down
Rollovers are the most common way to transfer funds within retirement accounts. Transfers and rollovers are transactions that allows for the movement of assets between IRAs and 401K plans. Let’s go over the basic terminology. Direct Rollover A Direct Rollover is generally used when moving funds from an employer plan (like a former employer 401K) […]
Thinking About Contributing to a Roth IRA Before Tax Day? Here’s Why You Should
We’re a few days away from this year’s tax deadline on July 15th. It’s also the deadline to make contributions to an IRA for 2019. Contributing to a Roth IRA can be particularly beneficial. You don’t have to make changes to your tax return Unlike an HSA and possibly a traditional IRA, Roth contributions aren’t […]
Actionable Ways to Protect Yourself and Retirement from a Recession
With slowing global growth, trade wars, and inverted yield curves, it seems everywhere you look someone is talking about a recession. Will we have one? When? Will it be mild or severe? The only question anyone can accurately answer is the first one. Yes, we will have a recession. Recessions are part of normal economic […]
What All SDIRA Owners Need to know About Trust Deed Investing
Quite plainly, a trust deed investment is when an individual lends money to a borrower for a real estate purchase. When you invest in Trust Deeds, you act as a lender and offer financing to a property owner. The loan is secured with a property, and in the event of default its title transfers to […]
Investing is Made Easier with an IRA LLC
Curious about an IRA LLC, but a little confused on what they are, and how they benefit investors? We have a couple of answers to your questions. What is an LLC? Basically, an IRA LLC is a way for you to take back more control over your retirement investing. It’s a special Limited Liability Company […]
What You Need to Know About Annuities in an IRA
What are annuities and IRAs? How do they differ? IRA is short for “individual retirement account,” an account that you can use to purchase stocks, bonds, mutual funds and other assets to build a retirement nest egg. There are two types of IRAs, traditional and Roth. Traditional IRA: You contribute pretax dollars — in 2020 […]
How Everyone Can Save for Retirement When a 401K isn’t Offered at Work
Are you one of the millions of workers without a retirement plan at work? Or perhaps you’re self-employed and don’t have an employer at all? In either case, it’s imperative that you take your retirement savings and investments into your own hands. Employer retirement accounts are great, but many businesses don’t take on the added […]
How a Gold IRA Improves your Retirement Account
Not a whole lot of people know you can invest in gold, nonetheless, invest in gold with a gold IRA. But you can and for some retirement savers, it’s the answer they’ve been waiting for. If you’re the type that likes to invest in commodities or hard assets, then a gold IRA might have what you’re […]