Retirement Planning

In most cases, you are not allowed to withdraw money from your 401k plan before you turn 59 1/2 years old without paying a 10 percent tax penalty. However, the Internal Revenue Service (IRS)...

You can cash in your SIMPLE IRA at any time you want by simply filling out a withdrawal form. However, most withdrawals before age 59 1/2 will be subject to a 10 percent early withdrawal penalty....

Although it is not common, you can purchase a house or other piece of real estate inside an IRA and do so without incurring any tax liability. The process is relatively simple and essentially...

A Social Security number is essential to American citizens. Every citizen must apply for a number either as a child or an adult. To become a new member of the Social Security system, you need to...

Equity indexed annuities are financial products sold by life insurance companies. An equity indexed annuity, or "EIA" for short, has become a controversial financial product in recent...

Planning your retirement involves a lot of calculations, covering contributions to your retirement account, the interest rate that account is taking on and the cumulative total of what's going on....

With frequent job changes becoming a regular occurrence, and the economy battering employees' retirement plans, discovering whether you have money in a 401(k) might seem like a daunting task --...

Naming a trust as a beneficiary for an IRA is a relatively simple process. Although it is impossible to house an IRA account inside a trust, most IRA owners can name a trust as beneficiary if they...

Though the Internal Revenue Service (IRS) allows you to take money out of your traditional IRA at any time, you will usually be charged a 10 percent penalty on any withdrawals before you reach age...

Years of service in the armed forces as a reservist do not convert directly into active duty years. Instead, reservists are awarded retirement points for certain activities in which they...

Individual Retirement Accounts (IRAs) are individually-managed, tax-advantaged brokerage accounts. You can contribute a limited amount of money to one every year or you can roll over a similarly...

Moving money from a regular, taxable account to an IRA is a simple process. The Internal Revenue Service limits the maximum payments that you can make to an IRA every year at $5,000 for people...

A 403b is a common retirement fund set up for employees of non-profits. Like most retirement funds, the contributions are tax-free, which increases your return potential over time; however, there...

You can withdraw money from your traditional IRA whenever you want. However, the Internal Revenue Service (IRS) charges a penalty on withdrawals before age 59 1/2, unless you have a qualified...

Converting a profit-sharing plan to a self-directed Individual Retirement Account (IRA) is a relatively easy procedure, but it is important to pay attention to Internal Revenue Service (IRS) rules...

An IRA is an individual retirement account that typically is invested in mutual funds. However, you can invest in more than just mutual funds with your IRA. In fact, you can buy stocks, CDs,...

Retirement planning is an essential yet often neglected component of a sound financial strategy. The compound interest benefits you can gain through investing monthly into a retirement plan are...

An equity indexed annuity is a hybrid annuity that offers benefits of both fixed annuities and stock market appreciation. Equity indexed annuities are offered through insurance companies and are...

You might have started saving for retirement with a traditional individual retirement account because it offered current tax savings. Now that you're a little older, you realize that a Roth IRA is...

IRA accounts are investment vehicles that allow you to save toward retirement while deferring taxes. You can invest them in a variety of investments including equities, private placements and real...

A transfer from a 401(k) plan to an Individual Retirement Plan (IRA) usually occurs at an unfortunate time, when an employee no longer works for a company. If you land at a company that has its...

People might change jobs and relocate several times over their lifetime. Unfortunately, if a person had a retirement plan or 401(k) with a company, he or she might have neglected to roll over the...

A deferred annuity is an investment vehicle offered through an insurance company; you make contributions that grow tax-deferred until you draw upon that money at a later point in time. Annuities...

An Individual Retirement Account (IRA) is a tax-advantaged investment account generally used for long-term savings for retirement. The tax benefits associated with the account, including tax...

If you are unsatisfied with your current Individual Retirement Account (IRA) custodian, if you want to take money out of your IRA account, or if you are making changes to your overall tax and...

Individual Retirement Accounts (IRAs) offer individuals a few attractive ways to save for retirement. Traditional IRAs offer you the ability to deduct your retirement savings from your taxes now...

A Roth Individual Retirement Account (IRA) is a type of IRA where the contributions you make each year don't provide you an immediate tax deduction. Instead the money will grow tax-free rather...

Annuities are investment products purchased through life insurance companies. They provide tax-deferral growth for long-term financial planning, have a death benefit paid to your designated...

There are four entities associated with an annuity contract: the insurance company, the owner, the annuitant and the beneficiary. The owner and the beneficiaries can be modified. Benefits are...

Social Security benefits provide income for those in retirement or who cannot work because of a disability. If you live in Oregon and think you might be eligible, the place to start is the...

Though it is usually a last resort, you can withdraw money from your traditional Individual Retirement SAccount (IRA) at any time, including to pay down debt. However, you will have to pay an...

A Roth Individual Retirement Account (IRA) is an investment account for retirement. The Roth IRA is funded only by after tax income, which means that account owners get to see tax free growth on...

When you reach age 59 1/2, you can start withdrawing money from your retirement accounts penalty free. Once you withdraw the money from your retirement account, you still have to record the...

If you and your spouse are approaching retirement, now is the time to make crucial decisions concerning your social security benefits. Here are a few tips to consider that can get you the maximum...

Contributions to Roth Individual Retirement Accounts (IRAs) are made with post-tax dollars, meaning that you cannot take a tax deduction for your contribution. However, you are allowed to withdraw...

Roth IRAs provide tax advantages and are a great account for young investors who want to start a retirement account. Roth IRAs are taxed when the money is earned and therefore grows tax free. It...

Do you need a plan to save for retirement? These days, it’s even more important than ever to save for your retirement. The future of social security and pension plans are questionable at best. ...

For some people, controlling your IRA means choosing the equities that go into the account. For others, it means having the ability to invest IRA funds not only in equities, but also in...

While a Roth Individual Retirement Account (IRA) cannot be "redeemed" like a government bond, for example, there are choices you can make in terms of how to close out the balance of a Roth IRA....

Closing a Fidelity Roth Individual Retirement Account (IRA) can be a straightforward procedure. Unless, the account has a zero balance, however, you will need to determine where the funds in the...

An IRA, according to IRS definitions, is an individual retirement arrangement, often referred to as an individual retirement account. When you are opening an IRA, consider your immediate tax needs...

If you want to open a Roth IRA in time to report your contributions on your tax return, you have to open it by the IRS filing deadline for that tax year. Usually, that deadline is April 15 of the...

The 403(b) is like a 401K for employees of tax-exempt organizations, such as schools, non-profits, and certain hospital and religious organizations. Your contributions are deducted from your pay...

The rate at which the compound interest of a reverse mortgage grows can surprise a homeowner. Before entering into a reverse mortgage agreement, the homeowner should see some sample calculations...

Tax time can be fraught with anxiety. Faced with work, family and other obligations, you may find it impossible to file your return by the April deadline. The IRS makes it easy to request a...

A 401(k) is an investment plan that allows workers to save for retirement. It works by having pre-tax dollars taken out of workers' paychecks and put into a retirement plan. If you have a 401(k)...

Once you retire, you might want to access the funds in your traditional IRA and eventually close the account. All the money you have contributed over the years might have grown to a nice nest egg....

An annuity and an IRA are both vehicles that investors can use to save for retirement. Both are given tax-deferred status by the IRS so long as account holders follow the regulations for...

Independent Individual Retirement Accounts (IRAs) are of two kinds. The Traditional IRA, up to the allowable annual limits, is deductible from the taxes otherwise due in the year the contribution...

While an individual retirement account (IRA) is designed for long-term saving, it is tempting to keep a close eye on the valuation of your account, especially in the information age, when stock...