Retirement Planning

IRA is the acronym for Individual Retirement Account. The most popular IRA's are the traditional IRA and the Roth IRA. The Roth IRA is named after William V. Roth, Jr, a senator from Delaware. The...

Roth IRAs are an attractive way to save for retirement. You invest for retirement with taxable contributions now and once you retire, the withdrawals are tax free in most instances. Roth IRAs are...

An Individual Retirement Account (IRA) provides tax advantages for the retirement savings of the elderly. The Internal Revenue Service (IRS) created this individual retirement provision in 1954....

Roth IRAs have become a very attractive way to save for retirement. As a result, it's not surprising many people choose to roll their 401(k) accounts into a Roth IRA when they leave a job. That...

Converting a traditional IRA to a Roth IRA is usually a good idea. The key word is "usually." There are things you need to consider before making the switch; otherwise, you might turn a good...

According to the Social Security Administration, most American workers receive Social Security benefits after retirement. Almost one-third of retirees receiving Social Security benefits are...

With questions about the viability of social security being raised every day, planning for retirement by understanding a roth vs traditional IRA is important. Learn to compare the differences...

The rollover of a 401k plan may occur when you change employers or when you retire. A 401k rollover is the process of changing a 401k into a new IRA when you leave an employer. This is also known...

As retirement approaches and you begin considering living life on a fixed pension, you are going to want to get the maximum benefit from that pension. If you can find a place where you would like...

A Roth IRA is a type of individual retirement account that the federal government introduced in 1997 under the Taxpayer Relief Act. You can open a Roth IRA as long as your adjusted gross income is...

No law requires you to designate a particular beneficiary for your IRA. However, you may not wish to just choose your wife or your children once you know how the law works with regard to...

A Roth IRA is a tax-advantaged retirement account that was instituted in 1997 as part of the Tax Payer Relief Act. The Roth IRA was created to give people an incentive to save more money for...

Federal taxes will be the same no matter where you move for retirement; however, state and local taxes vary from one state to the next. A lot depends on your financial situation before deciding...

A Roth IRA is best loved because of it's tax-free benefits; no minimum distribution requirements, no taxes on qualifying distributions, no taxes, well, period. Let's face it: retirement accounts...

Retirement plans provide workers income during their retirement, funded by contributions from the individuals and their employers during their working years. Qualified retirement plans are those...

This article provides step-by-step instructions for you to receive funds tax free from your IRA account. It will help you determine if you should cash out your IRA, the risks and benefits of...

Cashing out a Traditional Individual Retirement Account or IRA requires following step-by-step instructions in order to receive funds from your Traditional IRA account. These guidelines are for...

A traditional IRA allows you to contribute money on a pre-tax basis. Earnings grow tax-deferred, and taxes are only taken out when you withdraw money. There are various rules as to how and when...

Individual retirement accounts, IRAs for short, were legislated so people could save for retirement. The benefit of an IRA is the way money is treated for tax purposes. Each type of...

A traditional IRA is one of the "Individual Retirement Arrangements" recognized by the Internal Revenue Service (IRS). A traditional IRA allows you to defer taxes and helps you save and invest for...

The strategy of converting to a Roth IRA is emerging as one of the bright spots on an otherwise dismal financial landscape. As you know & as I mentioned in my retirement blog, once qualified...

If you make an early withdrawal from your 401K, you will face penalties and taxes from the IRS. There are many things to consider before withdrawing money from your 401K. After all, this money is...

Filling out tax information can be very confusing for some. As we get older, some things may become more difficult. By the time one reaches the typical retirement age, he may be well over 60 and...

Established by the Federal Insurance Contribution Act (FICA), all US workers are obligated to make contributions from their wages to support the federal Social Security and Medicare programs. If...

The Dow Jones Industrial Average (a hallmark of stock market performance) opened 2008 at 13,044 and closed the year at 8,776 – a 33% drop for the year. Is has dropped another 7% in the New Year. ...

Social Security affects just about every American family in one way or another. Whether is is through disability benefits, retirement benefits, or when a parent or spouse dies, virtually all...

As I approached retirement I discovered a big difference in the amount of tax I would have to pay depended mainly on where I live. A retirement friendly State can save you big bucks: I have...

Contributed to your 401(k)? Great! Now take your retirement planning to the next level

A 401(k) plan is a retirement plan set up by employers to which employees contribute some of their earnings pre-tax for retirement. Many employers also match their employees' contributions.

Avoid the penalties by paying back the loan. When you borrow from your 401-k, you have to make payments back with interest that goes right to your plan. There are no penalties or taxes when you...

An IRA, an Individual Retirement Account, is used to help you save for retirement. There are tax advantages to investing in an IRA. Depending on the IRA vehicle that you choose, you can either...

A Roth conversion occurs when a person transfers money from a traditional IRA to a Roth IRA. This may occur when the person decides there will be a benefit to placing the retirement funds into a...

Retirement funds provide money for retirement years, but you can borrow from those funds to buy a business. To do so, you need to know a bit about the types of retirement accounts you have and...

IRA's are a way to save on your own toward your retirement. There are two major types of IRA's, the traditional IRA and the Roth IRA. The main distinguishing difference is that with the...

Transferring funds from a traditional IRA to a Roth IRA can cost you in early withdrawal fees and of course any additional contributions you make to the Roth will not be tax deductible. However,...

A Roth IRA is a great choice of investment vehicle towards saving for your retirement. The Roth IRA allows you to contribute up to $5,000 per year starting in 2008 ($6,000 if you are over 50),...

There are retirement plans that allow you to pay the taxes “upfront.” Then, once you are ready to use the funds, you do not have to worry about paying taxes. If you choose to pay...

Lately there have been a lot of references to "stagflation" when describing the current economic outlook. Webster's defines stagflation as: an inflationary period accompanied by rising...

Though an IRA, or individual retirement account, is typically money set aside for retirement, there are often unavoidable situations in life that make it necessary to withdraw funds early....