Ira

The Average IRA Balance by Age

Knowing how your IRA balance compares to your peers could be the nudge you need to save more for retirement....

Run The Numbers, Check Your Facts, Then Check Your Gut

Learn to make smarter financial decisions with math-driven strategies. James Lange shows how Roth IRA conversions and tax planning can maximize wealth and reduce taxes....

Using an IRA Distribution and Withholding to Reduce Estimated Tax Payments

An IRA distribution can be used to reduce or eliminate those pesky quarterly estimated tax payments. See how. The post Using an IRA Distribution and Withholding to Reduce Estimated Tax Payments appear...

Why a Roth IRA Isn’t Always the Best Choice: A Campfire Conversation

I was sitting around the campfire last weekend, enjoying the warmth of the flames and the comforting crackle of burning wood. My cousin, a financial advisor brimming with enthusiasm, leaned over and b...

Should You Keep Your 401(k) When You Retire?

Here are three primary reasons you might want to consider moving your retirement money from your 401(k) to an IRA once you retire....

Just gave three-minths notice today!

I just put in a three-month notice to retire on December 13 (Friday the 13th struck me as a funny date). My health insurance will be MedEx at 300/month and will cover everything, my IRA is good, Socia...

Grow Your Investments Like Yale, Through a Self-Directed IRA

Yale's successful endowment focuses on alternatives. With a self-directed IRA, an individual investor could design a portfolio based on similar principles....

Prepare to Start Taking Money Out of Your Inherited IRA

The IRS has issued final rules on taking required distributions from an inherited IRA, and warns that the reprieve on penalties for adult children and other non-spouse beneficiaries who don't comply w...

Why You Shouldn’t Burden Your Heirs With An Inherited Traditional IRA

Inherited traditional retirement accounts come with tax burdens and restrictions that were increased in recent IRA regulations....

Vanguard IRA vs TSP rollover question

I posted this in r/personalfinance with no response. This subreddit may be a better place. I have a TSP account from prior employment. I am semi-retired and only working part-time. I would like to inv...

What Is an IRA and Which Type is Best for You?

An Individual Retirement Account (IRA) is a tax-advantaged savings account to help you boost your nest egg. Learn which type of IRA is best for you....

The Pointlessness of Working When Your Net Worth Is Declining

The latest stock market correction cost me about five times what I made consulting part-time for four months. If I were smarter, I would have sold 100% of my rollover IRA before stocks started to tumb...

Many accounts that I’d like to rollover.

I have 401ks, SIMPLE and Traditional. In preparation for retirement I’d like to simplify by rolling my 401k and SIMPLE IRAs to one Traditional IRA. Assuming I keep the same funds, are there any ...

Do Not Convert To A Roth IRA (Until You Read This)

Consider the idea of not converting any, some, or all of your Traditional IRA to a Roth IRA and go against the conventional wisdom....

Is Your IRA Safe From Creditors?

Federal law gives IRAs limited protection from creditors, and some states provide even more asset protection....

Check Your State’s Tax Law Before Converting An IRA

Some states tax IRA conversions differently than the federal government. Know the details before you decide on a conversion....

Rolling Over a 401(k) Into an IRA

Thinking of rolling over a 401(k) into an IRA? There are tax and flexibility advantages. But tread carefully....

An IRA Contribution Option You Might Not Know

Retirement savings might not have to take a back seat just because your partner doesn't earn income....

Can You Convert An Inherited IRA To A Roth IRA?

The are smart ways and terribly taxing to get funds from an Inherited IRA to a Roth account. Keep reading to learn how to get more tax free income from your inheritance....

Why I Stopped Chasing Bank and Brokerage Bonuses

I met the blogger Frugal Professor last week when he traveled to my area for a family gathering. I learned from his blog post that he earned over $5,000 tax-free by transferring a Roth IRA to Robinhoo...

Is Your IRA an IOU to the IRS? Three Retirement Tax Strategies

These steps, including converting to Roth IRAs, using a Roth 401(k) and leveraging life insurance and annuities, can help reduce your taxes in retirement....

Leaving Your IRA to Your Family First, Then to Charity

Photo credit: jb Suppose you have a situation where you’d like to leave your IRA (or at least some of it) to a family member or a group of beneficiaries, and then leave the remainder of the IRA ...

IRA vs Roth vs 401(k): Which Do You Pick?

All offer great tax breaks as you save for retirement. In addition, there are 403(b), SEP and SIMPLE plans and more. But don't worry. It’s hard to go wrong....

SEP IRA vs. Solo 401(k): Which Is Better?

Two retirement plans, the solo 401(k) and SEP IRAs, allow small business owners and the self-employed to save up to $69,000 annually....

Roth IRA for Youngsters

Photo credit: jb Many times it is among the best of ideas to establish a Roth IRA for your child. This way, your child can benefit from the long-term growth in the account and have a very good head st...

Understanding IRA Contribution and Distribution Rules: A Comprehensive Guide

A couple receives guidance on managing their IRA Contribution and Distribution. As you plan for your retirement, understanding the rules governing Individual Retirement Accounts (IRAs) is essential to...

Is It Really Allowed – Making a Non-Deductible IRA Contribution Followed By a Roth Conversion?

Photo credit: diedoe I occasionally receive this question: Can I make a non-deductible IRA contribution, and then shortly after convert the IRA into a Roth IRA? My income is too high for me to make a ...

Exploring IRA Options: Traditional vs. Roth IRAs

A couple compares the differences between a Traditional IRA and a Roth IRA. Selecting the right Individual Retirement Account (IRA) is a crucial step for your financial future. With various options av...

5 Ways to Maximize Your IRA & 401K in Retirement

How much money have you saved in your IRA or 401K? Making contributions to one of these tax-deferred retirement accounts is easy. But withdrawing this money in retirement … gets complicated. Th...

The Do’s and Don’ts of Inherited IRAs

When you inherit an IRA, you likely have a lot of questions. Do you need to take RMDs? When? How long do you have before the account must be cleaned out?...

What to Know Before You Inherit an IRA

Managing the taxes that come with an inherited IRA takes smart planning, especially since the SECURE Act eliminated the 'stretch IRA' game plan for most folks....

IRA Heirs Can Delay RMDs Another Year, But Should They?

The IRS again waived the required minimum distributions for inherited IRAs. But not taking a distribution could cost you more over the long term....

Spouse May Be Your Best Option for IRA Beneficiary

Since a surviving spouse gets the most flexibility and tax breaks of all possible beneficiaries (other than perhaps a charity), it seems that choosing your spouse as the beneficiary of your IRA may be...

The Problem with Naming Your Estate the Beneficiary of Your IRA

Photo by: jb While it may seem like a simple idea to just make your estate the beneficiary of your IRA, thereby allowing you to make adjustments to your final beneficiaries via your will – there...