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overfunded ira
February 14, 2024
How To Fix Overcontributions To Your IRA

OVERVIEW The contribution limits for a traditional IRA and Roth IRA are $6,500 ($7,500 if age 50+) in 2023 and $7,000 ($8,000 if age 50+) in 2024. Any contributions over the contribution limit is considered an excess contribution and must be fixed as soon as possible. There is a 6% excise tax on the overcontributed amount every [...]

IRA
February 9, 2024
Solo 401k vs IRA (Traditional & Roth): Which Is Better For Business Owners?

Open a solo 401k plan online in under 10 minutes – The Carry Solo 401k Plan is a featured-packed self-directed account that lets you invest in both traditional and alternative assets, take out a loan, or do a mega backdoor Roth conversion with a few clicks. If you’re a business owner and are eligible for a [...]

IRA
February 8, 2024
What Can You Invest in with a Self-Directed IRA? (51 Examples)

While regular IRAs typically only allow you to invest in traditional assets like stocks, bonds, mutual funds, and ETFs, self-directed IRAs (SDIRAs) open up the ability to invest in alternative assets through your retirement plan. Invest in any alternative asset class with Carry Self-Directed IRAs. Learn more. [...]

rmd table
January 16, 2024
IRA And 401k RMD Table For 2023 & 2024

To calculate your 2023 and 2024 required minimum distributions for your IRA or 401k, use the RMD table below and follow the steps. .wpj-jtoc.--jtoc-theme-basic-light.--jtoc-has-custom-styles { [...]

IRA
January 12, 2024
Best Self-Directed IRAs of 2024

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, cryptocurrencies, and precious metals.  Self-directed IRAs are special types of IRAs. While they follow the same rules, limits, [...]

roth vs traditional ira
IRA
January 4, 2024
Roth IRA Vs Traditional IRA: Key Differences & Similarities

OVERVIEW Both the traditional and Roth IRA have contribution limits of $6,500 ($7,500 if age 50+) in 2023 and $7,000 ($8,000 if age 50+) in 2024. With a Roth IRA, you contribute with after-tax dollars. You get no immediate tax savings, but withdrawals in retirement are completely tax-free. With a traditional IRA, you contribute with pre-tax dollars. Contributions [...]

ira contribution limits
December 21, 2023
IRA Contribution Limits For 2023 & 2024

The contribution limits for a traditional IRA and Roth IRA are $6,500 for 2023 and $7,000 for 2024. If you’re over the age of 50, you also get an additional $1,000 in catch-up contributions, bringing your total limits to $7,500 for 2023 and $8,000 for 2024. Contribution limits may be lowered or restricted for the Roth [...]

checkbook ira
IRA
November 22, 2023
Self-Directed IRA LLC: The Checkbook IRA Explained

A self-directed IRA gives you more investment options and lets you invest in alternative assets like real estate, crypto, and private equity. The downside is that every investment has to go through a custodian. You don’t have checkbook control. If you find something you want to invest in, you have to instruct your custodian to send the funds [...]

sdira
IRA
November 21, 2023
What Is A Self-Directed IRA (SDIRA)?

In 1999, Peter Thiel bought 1.7 million “founder’s shares” of PayPal for $1,700 with his Roth IRA. Within three years, PayPal went public and was acquired by eBay. His initial $1,700 investment turned into $28.5 million. Peter then used that money to make further investments from within his Roth IRA. He invested $500,000 into Facebook, [...]