Archive for January, 2017

A Gold-Backed IRA Might be What’s Missing from your Retirement

Tuesday, January 31st, 2017

gold backed - square

It might be 2017, but precious metals like gold and silver are still very viable investment options for a great number of American retirement accounts. Throughout the rocky history of the US economy, gold has been held up as ‘standard’, and there’s good reason for that. First, let’s breakdown what a gold-backed IRA is.

A self-directed IRA can be invested in an almost innumerable amount of assets, and one of them is gold. The types of precious metals that can be held in an IRA are determined by the government, and they are gold, silver, platinum, and palladium, and only certain government-approved forms of those precious metals.

One of the biggest benefits of having a gold-backed IRA, or a gold IRA rollover,  is that you’re the one that’s in control of your retirement account, you’re the investor, and the benefactor, so you’re the one looking out for your own needs. Gold is also the only investment that is proven to be immune to the economic ups and downs, as it hedges against the US dollar, protecting your retirement funds from loss.

The main reason that gold-backed IRAs aren’t known on a larger scale, is that it takes a certain type of person to hold a self-directed IRA, meaning that you have to be a big self-motivator. Since you’re the one that’s directing your IRA, you’re wholly in charge of what you’re investing in, and how high you set your goals for your nest egg.

Accupod Episode 8: Making and Keeping Goals for 2017

Thursday, January 19th, 2017

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This week, we’re talking all things goals in 2017. From how to makes goals, great goal ideas, and everything in between. What are some mistakes you’re making when you’re creating goals and resolutions? We’re talking about how to S.M.A.R.T your goals, and how to keep them. Let’s start off this year well, and have continued greatness through 2017.

Episode sources and links:

http://www.artofmanliness.com/2015/05/26/personal-finance-goals-for-your-20s/

http://www.statisticbrain.com/new-years-resolution-statistics/

Self-Directed 401K’s Work Best for Self-Employed Americans

Wednesday, January 18th, 2017

sdira work for self employer

If you’re one of the 15 million Americans who is self-employed, you know, and probably dread thinking about retirement. In simple terms, it’s difficult to save for your future when you’re on your own, and have no employer to offer a pension or 401K program, nonetheless a matching 401K program.

So, what are those 15 million Americans supposed to do? Maybe you think you need a large sum to open up an account, or you think that you’re not able to open up a 401K because you’re a freelancer, but in reality, it’s pretty simple to setup and manage a self-directed 401K.

One big reason that 401K plans are often considered too complex and confusing is that there’s a government requirement that subjects them to nondiscrimination, and other tests that run checks and balances to make sure that a 401K plan benefits all enrolled employees, not just a select few employees, or just the owners. Since Individual 401Ks only cover owners and their spouses, there is no conflict of interest, and this added testing does not apply.

Since self-directed 401Ks can include more than one owner, they for sure are ideal for businesses with more than one owner. There are tax-deferral benefits that are available to multiple owners and spouses who derive income from the business, ensuring that all owners can equally take advantage of tax benefits.

Only hinge to that is that once your business hires employees who don’t have ownership stake in the company, it’s required by law to convert the plan to an employee-based 401K, so that all may benefit equally.

You may have big plans to grow your business, hire employees and perhaps even cash out down the road. In the meantime, an Individual 401K can help you plan for your future retirement goals.

Meet Our New iOS App for iPhone and iPad

Wednesday, January 11th, 2017

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The IRA Central iOS app runs on the iOS platform for the Apple iPhone and iPad. With it, you’re able to access your IRA Central account in every way that you’re able to on IRACentral.com.

In the palm of your hand, access your transaction history, documents, invoices, account summaries, and more. With mobile access, managing your self-directed IRA and 401K, and the assets within them become more efficient, and increases your ability to take control of your retirement.

iOS app featuresiOS app disclaimer
Download the full PDF overview of the iOS App, and all it’s details.

Available now in the App Store, download it today, and see how your account can work for you!

We Have More Debt Now Than we Did Pre-Recession

Monday, January 9th, 2017

recession debt

The average American has almost the same amount of debt, or more than before the 2008 financial crisis. What type of debt is holding Americans down?

The average household with credit card debt owes $16,061, up 10% from $14,546 10 years ago and $15,762 last year, according to a new analysis of Federal Reserve Bank of New York and U.S. Census Bureau data. The amount of household credit card debt is still down from a recent high of $16,912 in 2008 at the height of the recession. The U.S. won’t hit pre-recession credit card debt levels until the end of 2019, analysis projects.

Debt stats

Total debt (including mortgages, auto loans and student loans) was expected to surpass the amounts owed at the beginning of the Great Recession by the end of 2016, mostly due to mortgages and student loans. Mortgage debt jumped from $159,020 per household in 2010 to $170,800 in 2016, and debt from auto loans grew from $20,032 in 2010 to $28,500 in 2016.

Nationwide, total household debt (including mortgages, auto loans and student loans) now equals almost $12.4 trillion, up from about $11.7 trillion in 2010.

Why the growth in debt, given that many consumers should be skittish about living beyond their needs after the credit bubble of the Great Recession? The reason concerns a problem that has long dogged Americans. Median household income has grown 28% over the last 13 years, but expenses have outpaced it significantly. Case in point: Medical costs increased by 57% and food and beverage prices by 36% in that period.

Many Americans find it difficult to stick to savings goals. And that’s even worse if you have a family. The amount that a two-parent, two-child family needs just to pay the bills (but not have money left over for savings) ranges from about $50,000 to more than $100,000 depending on where a family lives, according to data from the nonprofit and nonpartisan think tank the Economic Policy Institute.

Rent has risen 3.9% in the last year alone, according to the Bureau of Labor Statistics. Rising living costs mean, if anything, consumers should pay extra attention to their budgets this year.