Retiring or leaving the company–How to Properly do an IRA Rollover Whether you are retiring or changing jobs, you need to know what to do with your employer sponsored retirement plan before your leave. Once you leave a job for whatever reason, you can choose to: What’s your Reaction? Love Love 0 Smile Smile 0 Haha Haha 0 Sad Sad…
Tag: Ira
Ira Distribution Rules At Death Critical Knowledge For Good Decisions
The distribution rules required at the death of an IRA owner depend on several things: 1. Did the IRA owner die before or after the “required beginning date”? 2. Who is the beneficiary? In order to carry out the wishes of the IRA owner, evaluating both practical and estate planning implications of various decisions during the IRA owner’s life is…
Roth Ira
The Roth IRA (Individual Retirement Account), named after Senator William V. Roth, Jr., came into effect on January 1, 1998. A result of the Taxpayer Relief Act of 1997, the Roth IRA provides a benefit which is otherwise not available in any other form of retirement savings. If you meet the criteria and subscribe to the Roth IRA, all your…
Little Or Nothing Saved At 50 You Ve Got To Act Fast Here S My Simple Catch Up Plan
I’ve been receiving a great many letters lately that go something like this! “I’m about to turn 50 and I’ve just started planning for retirement! Any ideas?” Great question! Something you should have asked 15 to 20 years ago but never mind, better late than never. Most of the mail comes from self-employed people who broke the number one cardinal…
Roth Ira Distributions At Death Pitfalls To Avoid
One of the most attractive features of a Roth IRA is the ability to control the timing of the eventual required distributions. However, this ability mandates the withdrawals to be made within a prescribed set of rules. The distribution advantages of a Roth IRA extend beyond the death of the IRA owner. But to make sure the spouse and children…
Who Should Be The Beneficiary Of Your Ira
You have a number of choices when it comes to selecting a beneficiary (or beneficiaries) for your IRA. Some are appropriate. Some are mistakes and can lead to delays and expenses in getting the funds to your desired recipients. Some may even exclude some of your desired beneficiaries. In addition, some elections are for estate planning purposes. Let’s take a…
Tax Tips For Real Estate Investors Using Ira Funds
You’ve seen the advertisements and news articles. IRA funds can be used to make real estate investments. But before you jump on this bandwagon, make sure you understand some of the tax planning angles related to this opportunity. Passive Loss Deductions Almost always, an important component of your real estate profits comes from the tax savings associated with depreciation. These…
Retirement Plans For Solo Entrepreneurs
Saving for retirement is even more important for solo-entrepreneurs because you don’t have a company sponsored pension plan or matching 401K contributions to rely on. There are many retirement plans available to self employed individuals and small businesses. Which one is right for you? Here is just a sample of the retirement plans available to solo-preneurs and small businesses: Roth…
It S Your Money Why Wait
The money in your IRA is your money. Every cent you put into that IRA was hard-earned, and if you really think about it, it’s not growing fast enough. What’s worse, you’re a few years away from retirement. Can you really bear the thought of NOT retiring in comfort? Two realities are in play here: first, the stock market’s lackluster…
What Is An Ira
It’s important to start saving early for retirement. The good news is, even if you already have a 401(k) at work, you can give your savings a boost with an Individual Retirement Account (IRA). An IRA, which combines the benefits of compound interest and tax savings, is available to anyone who earns a taxable income. You can open an IRA…