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 ‘Roth 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... Converting To a Roth IRA? 3 Questions to Ask Yourself First.
Saving money for retirement is one of the most important financial tasks you face during you life. However, there are a number of different options for retirement saving, and the method that’s best for you will likely depend on several factors.
One of the most popular types of retirement savings accounts is the Individual Retirement Account (or “IRA”). There are two different types of IRAs; the Traditional IRA and the Roth IRA, and in some circumstances converting from a Traditional IRA to a Roth account can provide you with significant long-term financial benefits.
Here is some retirement advice and three...
Wednesday, September 25th, 2013
Saving money for retirement is one of the most important financial tasks you face during you life. However, there are a number of different options for retirement saving, and the method that’s best for you will likely depend on several factors.
One of the most popular types of retirement savings accounts is the Individual Retirement Account (or “IRA”). There are two different types of IRAs; the Traditional IRA and the Roth IRA, and in some circumstances converting from a Traditional IRA to a Roth account can provide you with significant long-term financial benefits.
Here is some retirement advice and three... Information and Advice on IRA Contribution Limits for 2012
Individual Retirement Accounts (“IRAs”) remain the most popular investment vehicle for many individuals and married couples. 401(k)s are certainly popular, but they’re usually much less flexible than IRAs, and many people don’t like going through the hassle of moving or rolling over their accounts when they change employers.
IRAs are generally subject to lower contribution limits than 401(k)s and other investment vehicles. Furthermore, in order to receive the tax advantages of a traditional IRA, your income (or your joint income if you file a joint tax return) must be below a certain level.
Here is some information and advice about...
Friday, January 20th, 2012
Individual Retirement Accounts (“IRAs”) remain the most popular investment vehicle for many individuals and married couples. 401(k)s are certainly popular, but they’re usually much less flexible than IRAs, and many people don’t like going through the hassle of moving or rolling over their accounts when they change employers.
IRAs are generally subject to lower contribution limits than 401(k)s and other investment vehicles. Furthermore, in order to receive the tax advantages of a traditional IRA, your income (or your joint income if you file a joint tax return) must be below a certain level.
Here is some information and advice about... Roth IRA Overview
Roth IRAs and traditional IRAs have some significant differences. Roth IRA distributions are tax-free as long as you begin withdrawing funds after you are 59 1/2 and have had the account for at least five years. However, unlike traditional IRAs, contributions are not tax-deductible when you make them.
Traditional IRA contributions are deductible if you meet certain criteria, but distributions are taxable at the rate in effect for ordinary income and must begin by April 1sfollowing the year you turn 70 1/2. Because of the significant economic turmoil in 2009 Congress waived the Required Minimum Distributions (RMDs) for 2009.
With a...
Monday, March 22nd, 2010
Roth IRAs and traditional IRAs have some significant differences. Roth IRA distributions are tax-free as long as you begin withdrawing funds after you are 59 1/2 and have had the account for at least five years. However, unlike traditional IRAs, contributions are not tax-deductible when you make them.
Traditional IRA contributions are deductible if you meet certain criteria, but distributions are taxable at the rate in effect for ordinary income and must begin by April 1sfollowing the year you turn 70 1/2. Because of the significant economic turmoil in 2009 Congress waived the Required Minimum Distributions (RMDs) for 2009.
With a... 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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