Ira
Showing 50 results of 223
6 IRA Moves To Take During 2024
Jan 24 2024
Waiting until near the end of the year to consider your IRA strategies can cost you a lot of money....
forbes.com
The 529 to Roth IRA Rollover (Including for Yourself)
Jan 21 2024
[Editor's Note: If you’re looking to take immediate steps to increase your income that will continue you on the path toward financial security, enrollment is now open for Expert Witness Startup ...
whitecoatinvestor.com
Auto-IRA Programs Encourage Firms to Establish Their Own Plans
Jan 17 2024
The Pew Charitable Trusts recently reported that retirement assets in active auto-IRA programs have reached $1 billion. Auto-IRAs, which began in 2017 when Oregon launched its OregonSaves program, now...
crr.bc.edu
How a Spouse Can Stretch an Inherited IRA
Jan 15 2024
Photo credit: jb If you or someone you know has inherited an IRA from a spouse, there are several options available for handling the account. You could transfer the IRA to an inherited IRA, properly t...
financialducksinarow.com
Should I Roll My IRA into My 401K to Do a Backdoor Roth? Ep #207
Jan 15 2024
As part of our efforts to bring you actionable strategies to help you reach your ideal retirement, we’re tackling a complex question today. The backdoor Roth strategy can be a way to increase yo...
financialsymmetry.libsyn.com
6 Strategies to a Roth IRA for High Income Earners
Jan 09 2024
High income earners may face limitations when contributing to a Roth IRA due to income restrictions. However, there are several strategies they can employ to maximize the benefits of a Roth IRA or fin...
commonfinancialsense.com
The Backdoor Roth IRA When Life Is in Flux (and Why to Beware a Contribution in January)
Jan 08 2024
By Dr. Tyler Scott, WCI Columnist As the daylight fades ever earlier and the hushed softness of newly driven snow quiets the world around me, I, in only the second winter of my newly blossomed financi...
whitecoatinvestor.com
Funds in company 401(K) cannot be rolled over into Schwab IRA.
Jan 03 2024
Recently discussed consolidating my 401(K) into my IRA with my Schwab broker and was told the funds I hold are proprietary to my former employer and cannot be moved. Suggestion was to speak to 401(K) ...
reddit.com
Should I Withdraw from My IRA to Pay Off My Mortgage?
Dec 27 2023
One of our listeners actually has a better mortgage rate than me! However, as they begin to test their retirement budget they have found that the mortgage payment leaves that budget a bit tight. So th...
rogerwhitney.libsyn.com
deposit in a Roth or traditional IRA for F61yo
Dec 23 2023
My wife (who does not work, used to but not in the past 10 years) has a traditional IRA in addition to a Roth IRA. We are going to deposit $7500 for 2023 into one of these accounts and wondered which ...
reddit.com
What Is the Inherited IRA 10-Year Rule?
Dec 18 2023
Know what to expect if you inherit an IRA and how to establish a plan for taking distributions....
money.usnews.com
Am I Ok to retire at 67? Will I have to work? I live frugally.
Dec 14 2023
Im 56 have $490k in a Roth, $60k in Traditional IRA will collect $1299 in pension in 10 years with an estimated $3900 a month in SS in 10 years. $75k in savings. Can I retire in 10, or will I have to ...
reddit.com
Required Minimum Distributions and the Successor Beneficiary
Dec 11 2023
Photo credit: diedoe If the beneficiary of an inherited IRA dies before exhausting the inherited IRA or qualified retirement plan (QRP) through distributions, how are the ongoing distributions to be h...
financialducksinarow.com
Inherited IRA Required Minimum Distributions (RMDs)
Dec 09 2023
By Dr. Jim Dahle, WCI Founder Inherited IRA rules changed a few years ago, but Congress and the IRS did a terrible job of really communicating all of the new rules that occurred as a result of the SEC...
whitecoatinvestor.com
Tips for using a 'medical IRA' that offers triple the tax savings
Dec 08 2023
More working Americans have a health savings account, but many are not using them to their fullest potential....
financial-planning.com
Custodial Roth IRA: Is It Right For You?
Dec 05 2023
Custodial Roth IRAs have become popular for parents looking to help their children build their savings. These accounts offer a ... Read more...
physicianonfire.com
How I Failed and Then Mastered the Backdoor Roth IRA
Dec 05 2023
By Dr. Rikki Racela, WCI Columnist The founder of this website is often baffled by the amount of questions/grievances/headaches that WCI followers face when attempting the Backdoor Roth IRA. It seems ...
whitecoatinvestor.com
401(k)/IRA Holdings in 2022: An Update from the SCF
Dec 05 2023
Thebrief’skey findings are: The 2022Survey of Consumer Financesshows how 401(k)/IRA saving fared from 2019-2022. The answer is not obvious given all that went on: COVID, economic disruption, see...
crr.bc.edu
Is It Time To Convert Your IRA To A Roth?
Dec 03 2023
If you have a big wad in a pretax IRA, sit down with your accountant now....
forbes.com
Rosland Capital Gold IRA Review
Dec 03 2023
"When you pay someone for retirement advice, they must give you advice that’s in your best interest, not whether it gets them the best payday," Biden said....
money.com
Red Rock Secured Gold IRA Review
Dec 03 2023
Read Money's review of Red Rock Secured Gold IRA....
money.com
Roth 401(k) vs Roth IRA
Nov 28 2023
According to Becker’s Hospital Review, 74 percent of doctors are either corporate or hospital employees. As of a 2021 study, ... Read more...
physicianonfire.com
Roth IRA transferred to new brokerage, 5 year clock restarts?
Nov 28 2023
Had recently transferred my Roth IRA to a new brokerage firm. The original Roth was opened 10 years ago with yearly contributions. Does the 5 year clock for withdrawals restart in the new Roth IRA acc...
reddit.com
How do I find a tax advisor to guide me on IRA withdrawals and Roth conversions?
Nov 27 2023
I’m 65 and plan on retiring from full time employment in 26 months. I have a military pension, 900k in retirement savings (mostly in non-Roth, unfortunately), planning on drawing SS when I retir...
reddit.com
Should You Roll Over Your Retirement Account to an IRA? Ep #200
Nov 27 2023
When it comes to the question of rolling over a 401K or 403B to an IRA, many people fear making mistakes. It’s true, that retirement account mistakes can be costly. On this episode, we’ll ...
financialsymmetry.com
The Legacy IRA: The New $50,000 QCD For IRAs
Nov 25 2023
A new law increases tax-free ways to give from IRAs....
forbes.com
SEP-IRA vs. Solo 401(k)
Nov 22 2023
By Dr. Jim Dahle, WCI Founder If you work as an independent contractor, meaning you get a Form 1099 each pay period instead of a W-2, you're responsible for your own benefits, including a retirement p...
whitecoatinvestor.com
6 IRA Actions To Consider Before December 31
Nov 19 2023
Start these actions in motion before it's too late....
forbes.com
401(k), 403(b), And IRA Contribution Limits For 2024
Nov 18 2023
The Internal Revenue Service announced that the amount individuals can contribute to their 401(k) plans in 2024 has increased to $23,000, up from $22,500 for 2023. In addition, the limit on annual con...
financialsamurai.com
I’m finally fixing my IRA asset allocation
Nov 18 2023
I’m retiring in 2 years, and I’m a little upset with myself right now. I had a free consultation with Personal Capital about 5 years ago, which was great. They urged me to increase my stoc...
reddit.com
Why a Roth IRA Is a Bad Idea (Yes, You Can Lose Money)
Nov 17 2023
Have you ever been swept up in the wave of unanimous praise for something, only to later discover that nearly ... Read more...
physicianonfire.com
Can High Earners Fund a Roth IRA Without Paying More Tax? - 455
Nov 14 2023
Steve & Sharon in Minnesota are high earners - can they get more money into their Roth IRA without paying more tax? Should Fred in western New York do Roth conversions before required minimum dist...
purefinancial.com
Roth 403b vs Roth IRA
Nov 07 2023
As of areport in 2021, nearly 6 in 10 U.S. hospitals are nonprofit. If you’re one of the many workers ... Read more...
physicianonfire.com
IRS increases 401(k) and IRA limits
Nov 07 2023
The service issued its annual adjustments for retirement plans, with some reflecting changes in the SECURE 2.0 Act....
financial-planning.com
5 Steps To Become A Roth IRA Millionaire
Nov 07 2023
Take these 5 simple steps to become a Roth IRA millionaire. Given enough time anyone can become a ROTH IRA Millionaire....
forbes.com
IRS Bumps 2024 401(k) Contribution Limit to $23,000
Nov 02 2023
IRA limit also gets $500 boost while catch-up contribution limit remains the same...
401kspecialistmag.com
Question for the market-watchers: Would it make sense to sell shares of this mutual fund in my IRA?
Nov 01 2023
I have a non-Roth Fidelity IRA which I started in 2005 that is comprised of 6 mutual funds. One of those, a now-closed fund managed by Baron Partners, has had tremendous growth over the years - as of ...
reddit.com
SEP IRA vs Simple IRA: Which Retirement Plan Is Right for You?
Oct 28 2023
SEP IRA and SIMPLE IRA are two popular employer-sponsored retirement plans for small business owners and self-employed individuals. Both of ... Read more...
physicianonfire.com
Is It Ever a Good Idea to Over-Fund a Roth IRA?
Oct 26 2023
Today, we talk about if it is reasonable to use 457(b) money to help fund your child's college education, how to do a 401(k) rollover and then how to rebalance it, if it makes sense to do Roth contrib...
whitecoatinvestor.com
The Mega Backdoor Roth IRA: A Comprehensive Guide (2023)
Oct 21 2023
Physicians often have high incomes, which can make them ineligible to contribute to Roth IRAs directly. Luckily, there is another ... Read more...
physicianonfire.com
Can I roll over an old 401K into an self-managed IRA without paying taxes at time of this late roll-over?
Oct 06 2023
I have a decent 401K from a job I left 6 years ago. I left the money there because it was doing really well. Well, now it's not. It lost money as market took a nose-dive last year. It still isn't doin...
reddit.com
Euro-denominated investments in a US 401K or Sep-IRA
Oct 05 2023
Forum, I am a US citizen, preparing to retire full-time to Europe. One of my concerns is exposure to currency exchange (US to Euro). Does anyone know if it possible to hold Euro denominated investment...
reddit.com
401k with catch up and additional (Roth) IRA?
Oct 04 2023
Hello-I’m over 50 so I am allowed to add an additional $7500 a year to the $22500 a year maximum 401k contribution. I am deducting the max 30k a year from my paycheck. Can I also open a Roth IRA...
reddit.com
New Jersey Selects Vestwell to Administer Latest State Auto-IRA
Oct 01 2023
The 401(k) recordkeeper will serve as program administrator to New Jersey's Secure Choice…...
401kspecialistmag.com
Newbie Retiree: Cost Basis Missing for Regular IRA Account What Documentation Needed for Rolling Over to Roth IRA?
Mar 16 2023
Retired unexpectedly early due to COVID in 2021. Have 3 IRA accounts: (1) Roth IRA; (2) Regular IRA; (3) SEP-IRA. Unfortunately, I have very hazy cost-basis info. First, Roth IRA gains are considered ...
reddit.com
Funding a spousal Roth IRA for a married retired man
Mar 16 2023
Hello everyone. My father is set to retire at age 75. The issue is he has a TIAA retirement account which is like a 401k but not quit. It's a retirement account from a university. It seems to be somet...
reddit.com
Pension & Roth IRA?
Mar 15 2023
Wondering if anyone has a pension & a Roth IRA account. Is it worth it? Is it too much? My company offers a pension that they pay in to, no cost to me. Our package is currently $70/month/year of s...
reddit.com
Can you contribute jan 1st to a roth ira if you haven't made the 6,500 yet but expect to for the year 2023?
Mar 15 2023
I'm in CA here if that makes a difference. submitted by /u/Sorakairi89[visit reddit] [comments]...
reddit.com
Should You Separate Your Rollovers From Your Contributory IRAs?
Mar 14 2023
Photo credit: jb For the most part, it is recommended to merge all of your IRA money together into a single account, to simplify record-keeping, allocation, and paperwork in general. However, there ma...
financialducksinarow.com
401a rollover to IRA
Mar 14 2023
My wife has a 401a from the company she retired from and wants to roll it into an IRA at Fidelity. The employer is telling her the distribution check will be made out to Fidelity FBO her, but is also ...
reddit.com
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About Ira
An Individual Retirement Account (IRA) is a type of investment account that allows you to save for retirement in a tax-advantaged way. There are several different types of IRAs, including Traditional IRAs, Roth IRAs, and SEP IRAs (Simplified Employee Pension).
Traditional IRAs are funded with tax-deductible contributions, which means that you can deduct the amount of money you contribute to your IRA on your tax return. The money in your Traditional IRA grows tax-free until you withdraw it in retirement, at which point you will pay taxes on the withdrawals.
Roth IRAs are funded with after-tax contributions, which means that you do not receive a tax deduction for the money you contribute. However, the money in your Roth IRA grows tax-free and can be withdrawn tax-free in retirement as long as you meet certain conditions.
SEP IRAs are designed for self-employed individuals or small business owners. They allow you to contribute a percentage of your income to a retirement account on a tax-deferred basis.
There are annual contribution limits for IRAs, and there may be income limits that determine whether you are eligible to contribute to a Traditional IRA or a Roth IRA. It is important to consult with a financial advisor or tax professional to determine which type of IRA is right for you and how much you are able to contribute.