If you’re a business owner and are eligible for a solo 401k, you might be wondering how it fares against other more popular retirement plans like the traditional and Roth IRAs. This is not a fair comparison since a solo 401k is the far superior account with higher contribution limits, investment options, and doesn’t have […]
While regular IRAs only let you invest in traditional assets like stocks, bonds, mutual funds, and ETFs, self-Directed IRAs (SDIRAs) allow you to hold alternative investments in your Roth or traditional IRA, such as real estate, private equity, fine wine, cryptocurrencies, and precious metals. Self-directed IRAs are special types of IRAs. While they follow the […]
When you’re no longer eligible to participate in a workplace retirement plan, like a 401k or 403b, one of the ways you can preserve the tax-deferred status of your assets and maintain the potential for tax-free growth is to rollover your funds to a rollover IRA. A rollover IRA is a type of IRA that […]
Most people are aware of the traditional and Roth IRAs since they’re the most popular and most accessible retirement plan out there. Any individual with earned income can make contributions to a traditional or Roth IRA at any age. While the Roth IRA does come with income limits, there’s still an easy workaround, called the […]
A Roth IRA or traditional IRA allows individuals with earned income during a tax year to make contributions into their accounts. A spousal IRA is a traditional or Roth IRA that allows a married couple to contribute to an IRA for a spouse who has little or no income, as long as the couple files […]
There are two main types of IRAs: Traditional and Roth. What is a non-deductible IRA? A non-deductible IRA is a special type of traditional IRA where contributions are actually made with post-tax dollars. You don’t get any tax deductions on your contributions, and withdrawals of your earnings in retirement are also taxed as regular income. […]
For the past several years, investing in NFTs through a retirement plan has been somewhat of a gray area. The reason is that the IRS has never officially clarified whether they were considered an asset or a collectible, which would not be allowed as an investable asset class in a retirement plan. Still, because the […]
Investing in real estate with a Roth IRA is possible (and completely legal). However, you need a special kind of Roth IRA, the self-directed IRA (SDIRA). While your investment options are limited to only traditional assets with a regular IRA, a self-directed Roth IRA opens the door to alternative assets like crypto, NFTs, private equity, […]
Updated on January 13, 2023: Most individual retirement accounts (IRA) require that you start taking distributions from your account once you reach the age of 73. If you don’t, you’re hit with steep penalties each year you fail to take your RMD. The Roth IRA is the only exception. You don’t have to take any distributions […]