IRA and Roth IRA

Was one of your New Year's resolutions to get up to date and better informed about your retirement plans? If so, you're on the right track. The start of a fresh calendar is the perfect time to re-up your financial...
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By James O'Brien By now, many investors and analysts have taken a look at President Obama's MyRA plan and drawn a reasonable conclusion: It won't get retirees through many years of post-work expenses. But then, that's not...
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By Justin Stoltzfus. The IRS hasn't generally been known for its straightforwardness and efficiency, but issues around this year's tax refund checks are, in a lot of ways, a whole new ballgame. Refund problems often hit...
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Millions of employees will change jobs this year through career moves, layoffs or retirement. If you are one of these employees, chances are that this change has left you with a lot to think about. And one important decision...
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Recently I have seen a few erroneous or incomplete comments regarding Roth vs. traditional IRAs. Since: The "Roth" 401k authorized in the 2001 tax act has gone into effect beginning in 2006, Beginning in 2005 the...
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Who should benefit from your retirement assets - you and your family or the federal tax coffers? The answer is easy: you and your family, of course. Achieving that goal is more difficult. These days, very few people stay at...
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There comes a time when your surviving spouse, children and others will inherit your Individual Retirement Accounts (IRAs), yet you would like to control the distribution of those assets after your death. Perhaps your...
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The twenty-first century brought an influx of new wealth to holders of IRAs, 401(k)s and similar plans. That meant new tax liabilities as well. But, there is a way to extend the tax-deferred status of an IRA long after your...
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Individual retirement accounts are appropriate for any wage earner or self-employed person who plans to retire, can afford to give up ready access to the funds invested, and requires savings outside Social Security and...
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Ideally, a long-term retirement savings program is comprised of 3 basic components: Personal Savings Company Pensions Social Security With Social Security being well on its way to bankruptcy within the next 4 decades (just...
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By?Barbara Hernandez January 6, 2014 The primary concern of many investors is their return on investment. It's easy to get hung up on ROI and obsess about every percentage point, but the reality is that if investors...
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For many people, postponing distributions from an Individual Retirement Account (IRA) as long as possible is a good retirement strategy. It lets you continue to enjoy the benefits of tax deferral, which can make a...
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Are you tired of buying the same old investments for your individual retirement account. (IRA)? You don't have to. Any IRA, whether traditional, Roth, SIMPLE or SEP, can invest in just about anything except life...
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For many Americans, a comfortable retirement is the reward for years of long work hours, bumper-to-bumper traffic and endless staff meetings. Finally they have more time to travel, play golf, visit with the grandchildren, or...
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There are more ways to generate wealth than relying on what Wall Street has to offer. One of the better alternatives, in fact, is to invest in reducing your taxes. You may have made $1 million in the market last year,...
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One key component of the Roth IRA that is rarely mentioned is the sunset tax provision that mandates these tax free savings vehicle options will cease to be an option unless the provision is renewed in 2010. What this...
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The Taxpayer Relief Act of 1997 introduced a new Individual Retirement Account (IRA) called the Roth IRA. The primary inducement to make contributions to the new Roth IRA is that distributions are tax-free if certain...
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Turning 70 soon? Happy Birthday! If you own an IRA, your 70th birthday is significant too. During the year you turn seventy years and six months of age, you must begin to make taxable withdrawals from your Individual...
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At some point, you decided to save money for retirement. You filled out the forms, selected some investment options, and now you routinely toss the statements in the drawer after a quick glance making a mental note of...
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Over the last several years, we have read and heard much about the 'stretchout' IRA. Many IRA holders have painstakingly learned about the extreme complexities of Required Minimum Distributions (RMDs) and the ability to...
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Here's an idea that can keep on giving to children and grandchildren long after the gift-giver, perhaps you, has moved on to that great stock market in the sky. It's called the Stretch IRA. 'Stretch' refers to setting up an...
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Most people have heard the terms `IRA? and ?Roth IRA?. Many are familiar with the idea of an IRA to Roth IRA conversion, and may have completed these already on some accounts. The first issue to be address, is do you...
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Current Rules: There are several rules that govern your ability to do an IRA to Roth IRA conversion as well as contribute to a Roth IRA today. For years before 2010, if your modified adjusted gross income is greater...
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Does the idea of a millionaire's lifestyle appeal to you? Ocean cruises around the world, vacations abroad, sailing on a yacht, shopping in Paris?all might be your idea of how a millionaire lives, but that is not reality...
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Designating an IRA beneficiary is almost an afterthought for most IRA owners. Lack of attention to this seemingly simple procedure can create costly tax impacts for beneficiaries. The growth of IRA values in the last...
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Should you convert a traditional IRA to a Roth IRA after retirement? With retirees enjoying longer lives these days, a post-retirement conversion to a Roth IRA could have advantages for certain investors. A Roth IRA can...
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For some Individual Retirement Account (IRA) holders who are approaching the mandatory distribution age (April 1st of the year after the year they attain age 70½), their primary concern may be stretching their account assets...
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In 1974, the Individual Retirement Account was introduced as a retirement savings tool. Thirty years later, contribution limits have increased, and there are several types of IRAs available. As the largest tax cut in almost...
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If you're changing jobs, it's important to understand the options you have for managing your IRAs. With employees changing jobs more frequently than ever before, it's rare to find someone who has worked his or her entire...
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This is a true story and the names have been changed to protect the parties involved. A man retires from his employer in the mid 90's and decides to 'roll' his 401(k) to a retirement plan with NFS, LLC (a company owned by...
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The Economic Growth and Tax Relief Reconciliation Act of 2001 promised to deliver important benefits to nearly every American. The Act included tax-rate reductions, child credit increases, marriage penalty relief, education...
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Many may not consider the possibilities that a Roth IRA can offer an estate plan. But, there are three advantages that a Roth IRA can offer if your estate value is under the Applicable Exclusion Amount ($1.5 million in 2005,...
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Once your children start working, help them develop good savings habits by encouraging them to fund an individual retirement account (IRA). Even if your child only contributes for a few years, an IRA can provide significant...
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The tax laws regarding withdrawals from individual retirement accounts (IRAs) are complex. To avoid unnecessary penalties and to ensure you withdraw the funds efficiently, let's review the basics: Before Age 59 1/2 In...
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Even though Roth individual retirement accounts (IRAs) have been around since 1998, many investors aren't aware of all the differences between traditional and Roth IRAs. Thus, they aren't sure which IRA is the better...
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You're about to retire, have just retired, left a company to take another job, or have been downsized. You have built up a sizable retirement account, so: Now what? You're going to get the biggest check of your life & your...
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Individual retirement accounts (IRAs) are typically viewed as retirement planning vehicles. But with increased contribution amounts and the ability to roll over 401(k) balances to a traditional IRA, many IRA owners are...
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The distribution rules for inherited individual retirement accounts (IRAs) generally make it advantageous to separate accounts for each beneficiary, which can be done during your life or by December 31 of the year following...
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In tax planning, the goal typically is to delay the payment of income taxes. Thus, it can be difficult to understand why it might make sense to convert a traditional individual retirement account (IRA) to a Roth IRA, which...
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At some point you may come into a large sum of money or property as the beneficiary of a deceased IRA holder or from a distribution to you as a retirement plan participant. Understanding the tax consequences may prove...
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In the past few months, we've shown you how simple mistakes and oversights in planning for the distribution of your family's IRAs (and other retirement plans) can cost you and your beneficiaries anywhere from a few thousand...
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A friend chatted with me early Wednesday morning. Can you explain this myRA thing? he asked. Myra who? I replied. You know, the new type of retirement account Obama announced in the State of the Union last night...
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