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 […]
Tag: sdira
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 […]
How The SECURE Act May Impact Your Retirement Savings Account
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 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, […]