When saving for retirement there are many choices to make. One of those choices is to decide between a Roth IRA and a Traditional IRA. Both have their distinct advantages and disadvantages. A Roth IRA offers lots of significant benefits, including flexibility on distributions and withdrawals.
Unfortunately, some people choose one of the other based on misinformation. Before deciding if a Roth IRA is better, or a Traditional IRA is the way to go, it’s important to know how to compare the two. Then you can begin to ask yourself the questions that matter and impact your present... Articles Tagged ‘IRA’
Pros and Cons of a Roth IRA
When saving for retirement there are many choices to make. One of those choices is to decide between a Roth IRA and a Traditional IRA. Both have their distinct advantages and disadvantages. A Roth IRA offers lots of significant benefits, including flexibility on distributions and withdrawals.
Unfortunately, some people choose one of the other based on misinformation. Before deciding if a Roth IRA is better, or a Traditional IRA is the way to go, it’s important to know how to compare the two. Then you can begin to ask yourself the questions that matter and impact your present...
Tuesday, December 2nd, 2014
When saving for retirement there are many choices to make. One of those choices is to decide between a Roth IRA and a Traditional IRA. Both have their distinct advantages and disadvantages. A Roth IRA offers lots of significant benefits, including flexibility on distributions and withdrawals.
Unfortunately, some people choose one of the other based on misinformation. Before deciding if a Roth IRA is better, or a Traditional IRA is the way to go, it’s important to know how to compare the two. Then you can begin to ask yourself the questions that matter and impact your present... Should You Start an IRA For Your Kids?
When we think about individual retirement accounts, and how important it is to start them early in our careers, we might assume that this means opening our first account when we get our first job after graduation. But this thinking is unnecessarily restrictive, and people can greatly improve the chances of a financially successful and secure retirement by starting their IRAs even earlier than that.
Instead, you should be working to help your children begin their own IRAs as early as possible. The IRS rules governing IRAs actually have no minimum age requirement, so your child can have their own...
Tuesday, October 15th, 2013
When we think about individual retirement accounts, and how important it is to start them early in our careers, we might assume that this means opening our first account when we get our first job after graduation. But this thinking is unnecessarily restrictive, and people can greatly improve the chances of a financially successful and secure retirement by starting their IRAs even earlier than that.
Instead, you should be working to help your children begin their own IRAs as early as possible. The IRS rules governing IRAs actually have no minimum age requirement, so your child can have their own... How to Save for Retirement When Your Self-Employed?
Saving for retirement is a challenge for many people. The financial demands and obligations of day to day life can leave some individuals feeling overwhelmed when it comes to putting money away for the later stages of their lives. Here is some retirement advice to get you started if you are self-employed.
For the self-employed, saving for retirement may seem like an even more daunting task. Most self-employed individuals do not go through the same payroll process that companies with many employees do, and they can’t participate in a retirement program that their employer sets up and administers...
Monday, November 1st, 2010
Saving for retirement is a challenge for many people. The financial demands and obligations of day to day life can leave some individuals feeling overwhelmed when it comes to putting money away for the later stages of their lives. Here is some retirement advice to get you started if you are self-employed.
For the self-employed, saving for retirement may seem like an even more daunting task. Most self-employed individuals do not go through the same payroll process that companies with many employees do, and they can’t participate in a retirement program that their employer sets up and administers... Use Your IRA to Fund Your Small Business
Many of us have at least one Individual Retirement Account (IRA) as part of our retirement planning portfolio. IRAs are an essential part of retirement planning, because you have much more control over your investment choices than you do for a 401(k) plan or employer-sponsored retirement plan. Even the most flexible and comprehensive 401(k) plan will only have a limited number of investment options, depending on what company is acting as the plan’s sponsor.
Even though IRAs are much more flexible, there are still limitations on the types of assets that can be held within the account; for...
Tuesday, October 19th, 2010
Many of us have at least one Individual Retirement Account (IRA) as part of our retirement planning portfolio. IRAs are an essential part of retirement planning, because you have much more control over your investment choices than you do for a 401(k) plan or employer-sponsored retirement plan. Even the most flexible and comprehensive 401(k) plan will only have a limited number of investment options, depending on what company is acting as the plan’s sponsor.
Even though IRAs are much more flexible, there are still limitations on the types of assets that can be held within the account; for... IRA Information
With pensions becoming less and less common, and Social Security’s future in question, it’s never been more important to think about retirement well in advance. For those whose employers offer 401K plans, they are usually the easiest and most convenient way to save for retirement. But will your 401K yield enough money to see you through your golden years? And what if there is no 401K plan available to you?
Whether you have yet to set up a retirement plan or need to supplement your 401K, an Individual Retirement Account, or IRA, can help. Available from many financial institutions, IRAs are...
Tuesday, July 21st, 2009
With pensions becoming less and less common, and Social Security’s future in question, it’s never been more important to think about retirement well in advance. For those whose employers offer 401K plans, they are usually the easiest and most convenient way to save for retirement. But will your 401K yield enough money to see you through your golden years? And what if there is no 401K plan available to you?
Whether you have yet to set up a retirement plan or need to supplement your 401K, an Individual Retirement Account, or IRA, can help. Available from many financial institutions, IRAs are... Convert your Traditional IRA to a Roth IRA?
Given the significant market downturn it may not be a bad time to convert your traditional IRA to a Roth IRA. Right now, anyone with modified adjusted gross income of less than $100,000 a year (individual or joint income) can convert a traditional IRA account to a Roth IRA. Higher-income Americans are scheduled to get the same break in 2010.
Remember that when you do a conversion, you must pay income tax on the amount you are converting, which can be all of the funds in the traditional IRA or just a portion of those assets. But, subject to...
Thursday, March 5th, 2009
Given the significant market downturn it may not be a bad time to convert your traditional IRA to a Roth IRA. Right now, anyone with modified adjusted gross income of less than $100,000 a year (individual or joint income) can convert a traditional IRA account to a Roth IRA. Higher-income Americans are scheduled to get the same break in 2010.
Remember that when you do a conversion, you must pay income tax on the amount you are converting, which can be all of the funds in the traditional IRA or just a portion of those assets. But, subject to... 
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