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...]

What is the importance of an IRA? It is important to establish an IRA in order to save for retirement and take advantage of tax breaks while you are still working. Why is it important to know about the types of self-directed IRAs? How can a self-directed IRA take care of you during retirement? Although most of us start saving for retirement through our employer's 401(k) program, there are other … [Read more...]

A gold IRA is a specific type of individual retirement account in which you have control over your investment decisions. An Roth IRA is an investment account that is similar to a traditional IRA but can hold stocks, bonds, or mutual funds. A traditional IRA allows you to hold precious metals and other alternative assets in compliance with IRS regulations, but does not confer the same tax benefits. … [Read more...]

Retirement planning is difficult now, especially if you start planning late. You need to find a retirement plan that best suits your needs. How much you'll need to retire depends on a lot of things like the kind of life you want in your golden years, if you want to leave an inheritance, expected health costs as you get older, inflation, taxes, and the economy. The most important factor might be … [Read more...]

In other words, a Gold IRA is an Individual Retirement Account in which gold coins or bullion are the primary investment. Most financial institutions can help you set up and maintain a Gold IRA. A Gold IRA is a retirement account that allows you to invest in gold. The benefits of a Gold IRA are similar to those of a regular IRA, but there are some key differences that make this type of … [Read more...]

If you're still young or in the early stages of your career, you may not be thinking about retirement yet. One day, if you are lucky and save money regularly, you will be wealthy. A retirement plan is an important way to financially prepare for your later years. It is wise to start planning early in life, or as soon as possible if you have not done so already. You can save for retirement by … [Read more...]