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1 hr ago | Investopedia
If you have assets in an IRA , qualified retirement plan or 403 account, your intentions may be to defer taking distributions until after you reach age 59.5, when the early distribution penalty would not apply. However, unexpected financial hardships may force you to withdraw assets prematurely.
4 hrs ago | MSN Money
In 2013, ownership of retirement accounts by U.S. households fell below 50 percent, continuing a downward trend. And if you're a lower-income individual, the retirement participation percentage was even lower, at 40 percent -- an eight percentage point decline since 2007.
7 hrs ago | Vail Daily News
Are you ready for this? September is National Preparedness Month. Sponsored by the Federal Emergency Management Agency, National Preparedness Month seeks to educate Americans on preparing for natural disasters and other types of emergencies.
10 hrs ago | Forbes.com
Years ago, I found myself sitting in law school in Moot Court wearing an oversized itchy blue suit. It was a horrible experience.
12 hrs ago | Fermanagh Today
Martin McGuinness has urged politicians to rise to the challenge of securing peace and a better future for Northern Ireland following Ian Paisley's death. The Deputy First Minister paid a heartfelt tribute to Dr Paisley and revealed that he had a two-hour coffee meeting with Dr Paisley and Baroness Paisley, meaning that the former IRA commander saw Dr Paisley much more recently than many DUP MLAs or Free Presbyterian ministers.
14 hrs ago | Seeking Alpha
I don't think the world is going to end, just that there will be better opportunities to initiate stock positions at lower prices before year-end. My interest in the stock market as well as other financial markets started during my freshman year of college in 2010.
17 hrs ago | Investopedia
The Series 6 is a tough exam, especially for those who find it is their first introduction to the world of securities. In this article, we'll give you six additional easy tips on how to approach the information and proven techniques for studying for and taking the test.
17 hrs ago | Investopedia
Young people just starting out may not know where they are headed in terms of a career path. However, that doesn't mean that they shouldn't plan for retirement.
Sometimes when I focus so much on saving, I watch the numbers climb without thinking too much about the way I am saving it and whether there are better options. When planning how you will save money for retirement , it's a good idea to consider your decisions carefully.
Few of us are offered pensions by our employers anymore, but many of us are able to contribute to 401k accounts -- ideally receiving some matching contributions. It's smart to sock away as much as we can for retirement, building a fat nest egg.
Since you didn't send me the particulars of your situation, Willie, I've have to make them up. I'll try to recreate your scenario the way I see it.
The "I" in IRA stands for individual and is significant, as you have the ability to customize your deposits, take withdrawals when you want, and you are responsible for paying taxes on distributions. Below are a few features of IRAs that will help you get the most out of your contributions: Contribute to more than one IRA.
One of the key issues facing many retirees today is income taxes . Those who have to pay substantial taxes after they stop working are left with a smaller amount of money to live on than they may have expected, while those who pay little or no taxes can often get by on fairly modest means.
What if you had a friend who spent money right and left on what seemed like anything their heart desired? What if your friend never bothered to balance their budget and over the years had incurred a substantial amount of debt and, year after year, continued to borrow more and more? What if your friend had huge expenses looming for their health and retirement needs, but hadn't developed a comprehensive plan to pay for it? What if YOU were responsible for keeping your friend's financial ship afloat? Would you be a little concerned? Would you set aside a little extra, or maybe a lot, to cover their anticipated shortfall and lack of planning? What if your "friend" was the U.S. Federal Government and his sidekick the State of California? Rarely do I encounter someone who has fully incorporated income taxes into their retirement planning projections.
Even though we still have a long way to go until tax time, you can get a pretty good idea of the tax refund you can expect to get once you file your return next year. There are three basic components that go into how much you can expect to get back: your income, any deductions you're entitled to, and any tax credits you qualify for.
One advantage of a 401k account over an IRA is that you can borrow money from your 401k, but not from your IRA. True enough, but should you? It depends on your circumstances.
Suppose you work for 40 years, save $250 a month, your investments earn a 5% pretax annual return and you lose 25% a year to income taxes. If you start saving as soon as you enter the workforce, you will have roughly $279,000 at retirement.
Updated: Mon Sep 15, 2014 08:32 pm
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