If you've been thinking about converting a 401k to a Roth IRA, you should read this article. You'll learn about the pros and cons of making the move, and how to go about it the right way if you decide to proceed. Now, in separate articles I went into detail about all the advantages and disadvantages of 401ks and Roth IRAs. You can read all about … [Read more...]
Many people make the five avoidable retirement planning mistakes discussed below. The mistakes are primarily related to participation in a employer-sponsored retirement plan, portfolio diversification, and accessing funds to soon. If you can avoid these errors, your chances of a worry-free retirement will be greatly enhanced. 1. Not participating … [Read more...]
When it comes to investing in stocks and other financial instruments, below are some of the common traps that every wealth-building ninja should know about. Specifically, this article will cover traps such as sticking with investments too long, getting the wrong advice, not doing the appropriate research, and more. After reading and understanding … [Read more...]
If you're looking for an under-the-radar investment that has a history of great returns, then consider REITs. In this article, you'll learn why and how to invest in REITs. Specifically, you'll get the scoop on the three types, how they work, investment options, and how you make money. After gaining a basic understanding of them, you'll have … [Read more...]
Without a doubt, the most well-known retirement plan is the 401k. It has been around since 1978. Believe it or not, it was originally intended as a way for banks to provide an additional retirement benefit to their employees. What they specifically wanted was a way to match a part of the contributions that employees put into their 401k … [Read more...]
You've probably heard of the Roth IRA, but did you know that there is such a thing as a Roth 401k? Many people make the mistake of thinking that the Roth 401k is an alternative to the Roth IRA. Not so, but they are cousins. The more relevant comparison would be the Roth 401k vs Traditional 401k. In this article, you'll learn about what the Roth … [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...]
In the Green Wealth Belt mini-course, I provided a list of the best mutual fund styles that should comprise the bulk of your investment portfolio. I also laid out three Investment Portfolio Models designed to meet the needs of any investor based on their risk tolerance level. So we’ve got you covered whether you’re an Aggressive, Moderate, or … [Read more...]
If you watch tv, read financial magazines, or just casually surf the Internet, you’re bound to be bombarded by a plethora of investment options. It’s no wonder that many people get confused. But in reality, the average person only needs to know about the basic types of investments discussed below to get their portfolio going. Just because a … [Read more...]
Before you get too far along in expanding your investment portfolio, you need to have an honest conversation with yourself and identify your investment risk tolerance level. There are very few investments that are totally risk-free. And there are others that have valuations that can fluctuate wildly up or down on an almost daily … [Read more...]
As a Green Wealth Belt holder, you probably have less than $75,000 saved up. That includes the combined total in your company sponsored 401(k) or other retirement plan, IRAs, stocks, stand-alone mutual funds, cash, etc. While that’s a nice chunk of money, it’s not really enough to justify spreading your money into lots of different types of … [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...]
As the holder of a White Wealth Belt, socking away a lot of money for the future should not be a significant priority right now. Your main objective is to get your total outstanding debt down to an easily manageable level. When you reach that point, then you should start contributing to savings and investment accounts. White Wealth Belt … [Read more...]
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