You probably already know that for Traditional IRAs you cannot withdraw the funds from your account prior to reaching age of 59 ½ years old, without facing a stiff 10% additional tax penalty. But after you reach that age, you can start pulling money out (and just pay standard taxes) or leave it alone for additional years. However, there will … [Read more...]
If you're confused about the rules and tax treatment for making withdrawals from your Roth IRA, below are answers to some of the most frequently asked questions. Of course, you really should try to avoid touching your Roth IRA. There are incredible benefits to be had for just letting it grow. But if you must dip into it for any reason, these common … [Read more...]
The Traditional IRA has been around since 1975. IRA stands for Individual Retirement Arrangement, but nearly everyone calls them Individual Retirement Accounts, which is perfectly fine. Traditional IRA’s were created by the government to encourage you and me to save more money toward our retirement years. One of the big things you should know about … [Read more...]
One of the best saving and investment vehicles that you can and should establish is a Roth IRA. I just wish it was around when I graduated from university many moons ago. The Roth IRA has only been around since 1997. It’s called “Roth” simply because that’s the name of the U.S. senator (William Roth) who sponsored the bill that created … [Read more...]
In this article, we’re going to dig a little deeper into the Roth IRA. Now that you know what a Roth IRA is, the next step is to determine if it’s right for you and, if so, how to make investments and contribution into it. Specifically, you’ll learn about the advantages and disadvantages of a Roth IRA, including tax implications. Yellow … [Read more...]
When it comes to the Roth IRA inheritance rules, there are a few important things you need to keep in mind. The rules will vary depending on whether the inheritor is a spouse or non-spouse. Of course, there are many benefits of a Roth IRA. In my opinion, it's one of the best wealth building investment vehicles available. While you're living, … [Read more...]
If you want your wealth and retirement savings to grow as quickly as possible, then consider the great benefits of a Roth IRA. Creating one is probably the best investment decision I've ever made. I only wish this wonderful investment vehicle was available when I graduated from university. But let me slow down. I'm getting ahead of myself. Here are … [Read more...]
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