IRA Information
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...
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Tags: IRA, retirement advice, Roth IRA
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Convert your Traditional IRA to a Roth IRA?
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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Tags: IRA, ira conversion, retirement, retirement advice, retirement planning, Roth IRA
Posted in IRA and Roth IRA | 2 Comments »
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