With an individual retirement account (IRA), you can save for your retirement while also saving on your taxes. If you are self-employed or simply looking to open another retirement account, you may want to consider a traditional or Roth IRA. Before you can decide which one is right for you, you must first understand what […]
Tag: Roth IRA
The Secure Act 2.0: 5 Vital Changes To Retirement Accounts
The Secure Act 2.0 was given house approval on November 14th and is now making its way through the senate and congress. This bill could give our retirements a big boost if it is completely signed into law, so it’s essential to understand what’s in store for you. This blog post will cover the five most critical changes from the approved Secure Act 2.0 that could affect your retirement savings! […]
When Withdrawing Funds from your IRA are Penalty-Free
It’s not uncommon that contributions that workers make to their IRA are prematurely withdrawn. An IRA is intended to supplement income in retirement years, but as the future and some circumstances are often out of our control, an IRA is sometimes used in other ways than retirement. Should workers need to take funds from their […]
Self-Directed IRA Accounts – Introduction to a Roth IRA
With more than one retirement account option it can be hard to know which account would be best for you. If you are setting up your first or fifth retirement account it can be hard to know which is best for you. The main types of retirement accounts are Traditional IRA, Roth IRA, 401K plans, […]
As a Small Business Owner, What Are Your Retirement Plan Options?
Being self-employed gives you a certain measure of freedom, but it definitely doesn’t give you an out on skipping on something as important as saving for retirement. There’s an argument that it makes putting money away that much more critical, because unlike an employee who might have access to a 401K, you’re on your own. […]
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 […]