Tag: IRA

I sprawl contentedly in my first-class seat on the flight to Ireland. Ron Wood from The Rolling Stones, sat down next to me and when I told him I was afraid at take-off and touchdown he insisted on holding my hand through it all. ‘I know what women are like. My wife Jo’s exactly the sam...

What is a Mega Backdoor Roth IRA? A Mega Backdoor Roth IRA is a retirement savings strategy that allows high-income earners to make additional contributions to a Roth IRA, even if they are ineligible to contribute directly to a Roth IRA due to their income. This strategy can be a powerful tool fo...

After several rounds of reflection, I found I was not that busy. I was afraid of taking action and failing afterward. I have my little pep talk on reframing my thinking about failure, but the important thing is my gradual step of learning retirement represents a step toward my essential goal. To ...

With inflation on the rise, many investors are looking at buying gold and silver, historically one of the few reliable hedges of value against inflation. Among those investors, individuals who are looking ahead to retirement may want to consider investing in precious metals in an Individual Retireme...

The 401(k) plan is a retirement savings plan in the United States. It was introduced by the Employee Retirement Income Security Act of 1974 (ERISA). A 401(k) plan is an employer-sponsored retirement plan that allows employees to save for retirement on a tax-deferred basis. The plans are named after ...

The two-pronged axis of employee-sponsored pension plans and individual retirement accounts is the stage where, for most Americans, the majority of retirement planning happens. Within that framework, Roth IRAs are renowned for their unparalleled ability to secure tax-free growth. But there is a c...

Living my life in a contrarian and eccentric manner surely has its ups and downs. On the upside, and as a man who almost never worked a 9 to 5 job, I get to do all the things that draw crowds (movies, hiking et al) when the crowds are at work. Mostly, I get to sleep when I’m tired. And I rarel...

If you’re about to start your own business, or recently done so, you’ve likely wondered what retirement plan might be best for you. Is it a 401(k) plan? An SEP IRA? Something else? With the many options available, I asked four financial advisors for their thoughts on the two ...

Deciding to convert a 401(k) into a Gold IRA is an important one. It’s not something that should be taken lightly, and there are a lot of factors to consider before making the move. In this article, we will answer some of the most common questions people have about 401(k) to Gold ...

The answer is…it depends! One nice thing, the government does help you in both types of plans. Uncle Sam, with both the SEP IRA and the solo 401(k) retirement plans, allows your investment in your tax-favored retirement: to be deductible when you invest the money in the plan, 2....

When planning for retirement, the Roth Individual Retirement Account (IRA) stands out as one of the most powerful and flexible investment vehicles available. Unlike traditional IRAs, Roth IRAs are funded with after-tax dollars, which means that while contributions are not tax-deductible, qualified d...