Do you know what happened to that money you contributed to your employer’s 401K program? Are you worried it’s lost for good? Don’t fret, we’ve got you covered on what happens to your unused retirement money. Did you quit? If you have more than $5,000 invested in your 401K, most plans allow you to leave […]
Tag: Retirement
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 […]
Smart Retirement Moves to Make This Year
With recent reports of millions of Americans having little to no money set aside for retirement, has that made you look differently at your own financial situation? Are you looking for solutions and answers? Let’s start with a few moves that you as an average American can make to help secure their future, without being […]
A Breakdown of Retirement Terms and What They Mean
Don’t let the retirement industry terms confuse you, or deter you from pursuing your own retirement account. Here are a handful of the must-know terms to help you get your toes into the pool. Custodian An IRA custodian is a financial institution like a bank, credit union or trust company that acts as a bank. IRA custodians […]
Your IRA and Unintended UBTI
UBTI stands for unrelated business taxable income. It’s the tax placed on the income earned from an unrelated business, regardless of the tax filing status. How UBTI works For our example, say an investor were to use their IRA to fund and start up a small business like a yoga studio. A yoga studio is a business not necessarily related to the primary principle of […]
Make Room in Your Budget for Retirement Savings {infographic}
The fact is that a majority of Americans don’t have a regular savings account, and an even bigger majority don’t have a retirement savings account. Living on a budget can be tough, especially if you’ve had to make cuts to your spending in the past to make sure you’re living within your means. But even […]
Rules and Limitations for Owning Real Estate Through an IRA
Buying real estate through your IRA is a lucrative and competitive business. It can substantially increase the return on your IRA’s investment, and make for a big, cushiony retirement nest egg. One of the biggest reasons that more people don’t take advantage of owning a real estate IRA is all the rules and confusion that […]
Investing in Trust Deeds with your IRA
What is trust deed investing? Trust deed investing is simply investing in loans that are secured by real estate. Most trust deed investments are relatively short-term loans given to professional real estate investors. Banks can be reluctant to lend to investors who seek these loans not because the loans are particularly risky, but because […]
How Will the End of the Obama-Era MyRA Impact Retirement
On Friday the 28th of July, the Trump administration announced that they’re shutting down the Obama-era retirement program called ‘myRA’. The program was aimed at allowing mainly low-income earners, and also those who don’t have a savings program at their work a chance to save for retirement. The Treasury announced the program termination because the […]
Taxes, Contributions, and Your IRA: Your Questions Answered
Ultimately, what makes or breaks a decision on what type of an IRA is right for you is taxes. To get the most out of what you’re contributing to your IRA, it’s important to understand what these benefits mean, the limitations placed on them, and what that means to you. IRAs are a powerful tool […]