Archive for the ‘Traditional IRA’ category

401k Rollover to an IRA

February 5th, 2010

In the last 18 months many Americans have been faced with job loss. The economy is so slow that finding work is not easy. For those people a 401k rollover to an IRA was and is the only good option for their retirement account. When you leave a company, you have the option to roll your account into a new 401k at a new company, put it in an IRA or Roth IRA or leave it where it is. For so many people the second option is not only the best option; it’s the only option.

» Read more: 401k Rollover to an IRA

IRA Withdrawal- Getting Your Money Out

January 8th, 2010

Non-Roth IRA withdrawal rules are very strict. You need to make sure that you completely understand the rules so that you don’t wind up losing money on your investment. For example, anyone who has reached the majority age of 70 ½ has to take out a minimum withdrawal from their IRA account or face severe penalties. If you are going to be turning age 70 ½ soon, you need to understand the rules and guidelines for your minimum distributions so that you don’t get penalized for not taking out enough money. Here are some basic rules and tips to keep in mind:

» Read more: IRA Withdrawal- Getting Your Money Out

IRA Distribution- Where is Your Money Going?

January 1st, 2010

There are two main types of IRA accounts: Roth IRAs and Traditional IRAs. IRA stands for Individual Retirement Account, in case you were wondering. In order to understand your rules and penalties regarding IRA distribution, you have to know which type of account you have, as well as which rules it follows for distributing funds. Here are some tips to help:

» Read more: IRA Distribution- Where is Your Money Going?

IRA Contribution Limits- What You Should Know

December 25th, 2009

When it comes to investing, there are many different rules and guidelines that you have to learn, understand, and follow. One of these guidelines comes in the form of IRA contribution limits. If you have an individual retirement account, you are limited to how much money you can put into it every single year. Therefore, if you want to invest a lot, you will need to have multiple investment accounts or choose different types of investments to make.

» Read more: IRA Contribution Limits- What You Should Know

401K vs. IRA- Understanding Investments

December 20th, 2009

Retirement saving is almost automatic and detached for most people. They do what they have to do, whether it be signing up for their company 401K or getting their own IRA account if they are not eligible for workplace benefits, and leave it at that. They don’t do research, don’t consider the options, and don’t put enough thought into the issues that they are facing at all. Why not? Well, like many things in life, sometimes it is just easier not to think about investments and retirement accounts.

» Read more: 401K vs. IRA- Understanding Investments

IRA Distribution – Choosing Your Investment Strategy

December 13th, 2009

IRA distribution is a serious topic that many people have confusion with. It’s not surprising, and since there are so many different things that you have to know that you NEED to make sure that you get the facts. You could ask five different people about rules, penalties, and other details of distributions and they might give you 10 different answers. Making the wrong move could cost you a lot more than you think, so make sure that you are fully prepared. There are different types of IRA accounts, and each has its own rules. Here are some things to remember.

» Read more: IRA Distribution – Choosing Your Investment Strategy

IRA Rollover- Understanding Your Options

December 10th, 2009

The IRA rollover is a mysterious thing to many people. Understanding the retirement investment options that you have is critical, and when it comes to IRA accounts, you really need to make sure that you are aware of all of the details of the investment that you are making. When someone created the IRA account and decided that people needed to save for their future, there were many benefits that drew people to the accounts like moths to a flame. However, financial advisors and others haven’t always done their best to explain all of the little details, including rollover options and regulations.

» Read more: IRA Rollover- Understanding Your Options

IRA Withdrawal- Timing, Penalties and More

December 5th, 2009

Understanding IRA withdrawal rules is critical to your success in investing. If you don’t follow the rules and take out money when you are supposed to, you will be facing huge losses of your investment in the way of penalties in fines. Before we begin discussing the rules and guidelines, you should know that if you have a Roth IRA, these rules do NOT apply. Talk to your financial advisor about Roth IRA distribution specifically, because it is not subject to the same withdrawal regulations as other IRA accounts will be.

» Read more: IRA Withdrawal- Timing, Penalties and More

Traditional vs. Roth IRA – Benefits and Drawbacks

October 4th, 2009

Two of the most popular individual retirement account options are the traditional IRA and the Roth IRA.  The basis of both of these plans is to provide a secure, comfortable retirement for those eligible to open and contribute to an account.  Specific details about rules and restrictions are what set these two drastically apart from one another.  Depending on your income, tax filing status and exact plans for the future, you may find one is significantly more beneficial for you over the other.

» Read more: Traditional vs. Roth IRA – Benefits and Drawbacks

Traditional IRA – Limits and Restrictions

September 24th, 2009

Many people are now recognizing the importance of planning for retirement early in life.  Whether you are young and hoping to create a secure future or you are nearing retirement age and want to give your funds a boost, opening a traditional IRA may be the right choice for you.  What you need to understand are the benefits of this kind of retirement account and whether or not your contributions to it will be tax deductible.  Like any other retirement plan, there are rules and restrictions you must be aware of before you make the decision to open one kind of account or another.

» Read more: Traditional IRA – Limits and Restrictions