The SIMPLE in SIMPLE IRA stands for “Savings Incentive Match Plan for Employees.” This retirement savings plan is a type of traditional IRA that is geared towards self-proprietors and small business owners. Unlike SEP IRAs, where only the employer can make contributions, employees are allowed to contribute part of their pre-tax compensation to their SIMPLE […]
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 […]
Contributing to a 401K and an IRA is Allowed, and Why You Should Do It
What we’re discussing in this article: Eligibility of who can contribute to a Roth IRA and a 401K – there are income limits for a Roth IRA, see if you qualify below Other combinations of IRA types like SEP IRAS or Traditional IRAs if it makes sense for you tax-wise An explanation of pretax and […]
The Importance of Diversification of Your IRA Portfolio
Whether you’re new to the investing game or a novice, there’s something that everyone needs to learn, and that’s diversification of assets. Diversification is fundamental, not only for your portfolio’s sake, but also for your future retirement’s sake. When you have a self-directed IRA, and the investment options available to you are practically limitless, that’s […]
What are Futures and How Can They be Utilized in Your IRA
Futures trading involves buying and selling contracts for agricultural commodities, foreign currency, metals and other items whose price fluctuates from day to day. Futures traders make money by betting that prices will go up or down and trading the right to buy or sell at a given price. While futures trading is not expressly […]
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 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 2019 […]
Self-Directed 401K Plans Broken Down and Explained
A self-directed 401K lets you invest as you see fit. You can choose your own mutual funds, stocks and bonds rather than sticking to the pre-made funds typically associated with a retirement savings account. You can even invest in more unconventional assets like real estate and commodities if your employer allows it. The types […]
How The SECURE Act May Impact Your Retirement Savings Account
If you have money in either a IRA or 401K, you probably already know that eventually you’ll have to take that money out and pay taxes on it, if those accounts are Traditional retirement savings account. But the rules for taking required minimum distributions (RMDs) have always been confusing, especially because they require you […]
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 […]