An employer-sponsored 401(k) plan allows an employee to save and invest a portion of his or her paycheck before taxes are deducted An employer-sponsored 401(k) plan is a defined-contribution plan that allows employees to save and invest a portion of their paycheck before taxes are deducted. The retirement plan permits you to set aside money for later while providing considerable tax benefits. A … [Read more...]

Gold IRAs are becoming increasingly popular among conservative investors. As the national debt grows and the euro and Chinese renminbi become more prominent, people are investing in ways that will safeguard their money from inflation. Gold prices soared 24% in 2020 and are still rising as of early 2021. An Gold IRA is a way of investing in gold to protect your retirement savings from the … [Read more...]

We like to have options, whether it's a closet full of different wardrobes or dozens of flavors to choose from at our favorite ice cream shop. Self-directed IRAs allow investors to have more control over their investment choices. An IRA, or Individual Retirement Account, is a personal savings plan that offers tax advantages. Self-directed IRAs offer the same tax advantages as regular IRAs, but … [Read more...]

An investor who violates this provision may be subject to a six percent excise tax on the market value of the asset held. - An investor cannot take possession of assets owned in an IRA without being subject to a six percent excise tax on the market value of the asset. - Section 408 of the Internal Revenue Code prohibits investors from taking direct possession of assets owned in an IRA. You cannot … [Read more...]

An IRA is an individual retirement account that allows individuals to set aside money for retirement. IRA plans are usually paid for by money that is directly given by the person, or from money that is rolled over from a 401(k) plan. In 2022, the maximum contribution you can make to your retirement savings is $6,000. If you are age 50 or older, you can contribute an additional $1,000. You can move … [Read more...]

With a Self-Directed IRA (SDIRA), investors have complete control over where to invest their money in alternative asset classes. It is important to have a knowledgeable and trustworthy custodian for your account and IRA investment to be successful. A custodian who is not self-directed allows IRA holders to engage in non-traditional investments and never offers investment advice or sells … [Read more...]

It is said that by buying gold in an individual retirement account, savers are able to diversify their investments. Gold and other precious metals are viewed as a safeguard against inflation and could potentially increase in value during times when the stock market is unstable. An IRA that consists of gold can provide the same tax benefits as a regular retirement account, but you could be … [Read more...]

Alternative investments are investment assets that are not the traditional stocks, bonds, or cash. Although less well-known, alternative investments can be just as profitable as more conventional options like stocks and bonds. Keep reading to learn more about alternative investments and how they can benefit your finances. What Are Alternative Investments? Alternative investments are asset … [Read more...]

If you are lucky, you have enough money to support your chosen lifestyle during retirement. For most people, finding a way to make some extra money in retirement would be a big help. This could be the distinction between barely making ends meet and having enough money to live comfortably. Instead of depending on a job to give you an income after retirement, you could instead start your own … [Read more...]