We know that people are concerned about precious metals investing in their self-directed IRA due to the recent selloff in metals and commodities in general. It’s easy to get concerned when you see corrections all the way to the mid-1500s for gold. But, you have to ask yourself why would gold suddenly just fall out […]
Using Your IRA to Start a Business
Many people cannot start their own businesses for one reason — they lack the capital needed to buy equipment, a building, products and supplies. Inadequate funds can often deter people from creating their dream company, but if you have a retirement account like an IRA or a 401(k), you can secure needed capital. You can […]
Roadblocks Preventing an Economic Recovery and How to Position a Self-Directed IRA (updated for 2022)
As we continue to see the bogus numbers coming out of Washington, and the political rhetoric that comes from the President’s reelection, we thought we would look at what stands in the way of solid recovery and compare that to what the government is doing. Issue 1 – The National Debt The United States is […]
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 prohibited in retirement […]
8 Financial To-Do’s Before and After Changing Jobs
Securing a new job is an exciting time. It represents an opportunity to advance your career, develop as a professional, and make positive changes to your life overall. Getting a new job isn’t just about you and your growth, however. Ranging from your daily earnings to your retirement savings, changing jobs also has serious implications […]
Should You Invest, Pay Off Debt, or Save for Retirement?
Choosing where to focus your finances may prove difficult with all the available options. There are benefits and drawbacks to every important financial decision. You may choose to build your savings before paying off debt. You may want to eliminate your debt before saving for retirement or save enough cash to start investing. Ultimately, prioritization […]
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 […]
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? […]