If some is good, more is better. While exceptions to this rule certainly exist, I don’t think you will find many people who will argue this stance when it comes to their retirement funds. In my previous article, “Who Wants To Be a Millionaire?” I discussed how you can use time as a machine to compound wealth. Here are additional steps that can help you work toward a higher return on your 401(k) and propel you closer to your idealRead More
On the surface converting an IRA account to a Roth account seems to make perfect sense. What a great way to pass on tax free assets to the next generation or even have tax free money that you can take out, at your discretion, during retirement. Before you rush out and convert your IRA to a Roth account, however, let’s take a closer look.
First and foremost, the president included a few proposals in his 2015 budget toRead More
By now everyone and their brother probably knows the pros of owning a Roth IRA, but what about other options? Yes, there are other ways to build your ideal future! Having a tax-free bucket of money can provide tax planning flexibility in retirement income strategies that allows you to live the retirement lifestyle you’ve always wanted.
While Roth IRAs are important retirement investing tools, they have restrictions on who can fund them in any given year. For example, high income earnersRead More
Contributions to an IRA are made to supplement income during retirement. Letting your retirement assets grow before retirement is usually critical to ensuring your retirement goals are met. However, there are times when unforeseen circumstances and expenses force you to consider taking funds from your IRA to meet those financial hurdles. Traditional IRA distributions are always taxable income to you for the gross amount of the distribution taken. In addition to the income, withdrawals taken prior to 59 ½ yearsRead More