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 […]
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 […]
Savings vs. Debt Elimination – Which Comes First?
You can scrape together a small amount of extra cash each month, but you aren’t sure what you should do with the money. If you listen to financial expert Dave Ramsey, you will work through the Seven Baby Steps, which start with creating a $1,000 emergency fund. He also advocates debt elimination before retirement savings, […]
Navigating Retirement When You’re Self-Employed
Being self-employed has its ups, but it can also have its downs. For one, there may be enormous business costs to worry about, and you likely have to finance your retirement account entirely on your own. Fortunately, there are a number of self-employed retirement plans that can help you save enough for retirement. In fact, […]
Building a Dividend-Centered Portfolio for Your Retirement
You may be familiar with the concept of portfolio diversification, and you may also be familiar with the concept of dividend investing, but do you know how dividend investing can help you create a more diversified portfolio? When you invest in dividend stocks, you benefit twice from both the dividend payment as well as appreciation […]
Why You Should Take a Multi-Asset Approach to Investing
The traditional Single-Asset Investing Strategy emphasizes purchasing one item at a time and holding it for a long time. In the 1980s, this strategy was effective, primarily because interest rates were high and assets were not correlated. But in 2016, the financial markets are displaying some markedly non-traditional features. Low Interest Rates In the 1980s, […]
Financial Mistakes Retirees can Still Make in Their Golden Years
Unbeknownst to a lot of people, some, well into their golden years, still have some financial issues when it comes to their retirement. There are still mistakes to be made, there are still some downfalls and hard times, and there are ways to navigate around those issues unscathed. We’re here today to talk about some […]
Retirement ins and outs as a Small Business Owner (updated)
As a small business owner, it’s pretty common that you’re going to be the one wearing many, many hats. While you’re busy running your business on one hand, and juggling everyday life on the other, your thoughts might rarely turn to your retirement. One thing that you might not be taking into consideration is the […]
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 […]