A self-directed IRA allows investors to pick investments based on the owners’ experience and expertise. Choosing your assets gives you the freedom to grow and build your retirement in ways most investors never imagine. But with this freedom comes some added responsibility. Specifically, it would be best if you vetted your investments. That’s not something […]
Why Millennials Need To Start Saving for Retirement Now (And How To Get Started)
Millennials have less of a safety net than the generations before them. In fact, retirement will be different for millennials than it is for the baby boomer generation. Student loan debts — coupled with the fact that they lived through a recession and face higher-than-average unemployment and job insecurity rates — mean that retirement is […]
Inflation Can and Will Deplete Your Self-Directed IRA Gains – How to Fight it
Inflation is something most Americans are thinking and talking about a lot lately. Not only does inflation impact the prices of consumer goods; but the federal government also uses it as a benchmark in determining whether to increase contribution limits to qualified retirement plans or to raise monthly Social Security benefits. On an individual level, […]
A Look at the 2022 IRA Contribution Limits (updated for 2022)
Business Account Contribution Limits: SEP IRA Contribution Limits Solo 401K Contribution Limits SIMPLE IRA Contribution Limits Individual Account Contribution Limits: Traditional IRA Contribution Limits Roth IRA Contribution Limits Contribution Limits for 2022 Current 401K contributions for 2021 are maxed out at $19,500 for savers under the age of 50, and max at $26,000 for savers […]
Private Lending with a Self-Directed IRA
We’ve all heard of or taken out a loan in our lives, and it’s usually through a bank or another financial institution. What most IRA owners don’t know is that they are allowed to lend out the funds in their IRAs in the same way. The idea is that your funds can be loaned out […]
SEP, SIMPLE, and Solo 401K: Small Business Retirement Savings Plans
Running a small business or being self-employed can offer flexibility, freedom and control over your earning potential. While the perks are plentiful, there’s one thing that’s usually missing when you own a small business: an employer-sponsored retirement plan. As a small business owner, it’s pretty common that you’re going to be the one wearing many, […]
Self-Directed IRAs and NFTs: Prohibited Collectible or The Future of Alternative?
This digital asset has seen a boom over the entire year of 2021, so what’s the fuss about? What is an NFT, how does it compare to cryptocurrency, how will the IRS treat the asset, and more. What is an NFT? Non-fungible token. NFTs (or “non-fungible tokens”) are a special kind of crypto asset in […]
Mistakes That Beginner IRA Savers Can Make (And How to Avoid Them)
When you’re starting out on any endeavor, it can be challenging to get everything correct. What helps though is knowing the pitfalls and common mistakes that other people have made, and how to avoid them. The impact that taxes will have Have you wondered why so many people choose a Roth IRA over a Traditional? […]
A Beginner’s Guide to Investing in Gold – Updated for 2021
Gold has a long history as a “safe harbor” asset, guarding portfolios against stock market volatility, currency fluctuation, and more, over the years. With the price of gold on a steady drop compared to all-time highs a year ago, as other asset classes, including cryptocurrency, have appreciated, many gold enthusiasts worry whether or not the precious metal is holding its […]
Save More Towards Your 401K in 2022
There is an obvious major benefit to contributing to a 401K retirement savings plan. A 401K has a higher contribution limit than an IRA offers, and for 2022, 401K contributions are even higher. What’s Changing in 2022 Current 401K contributions for 2021 are maxed out at $19,500 for savers under the age of 50, and […]