When talking about the key benefits of an IRA, first and foremost, IRAs are a powerful tool for saving for retirement. By contributing money to an IRA on a regular basis, you can build up a nest egg over time that can help support you during your golden years. Plus, with automatic contributions, you can … Read More
An Individual Retirement Account (IRA) is a type of savings account that allows individuals to save for retirement on a tax-advantaged basis. IRAs are offered by financial institutions such as banks, brokerages, and mutual fund companies. There are two main types of IRAs: Traditional and Roth. Traditional IRAs allow individuals to make tax-deductible contributions, which … Read More
Planning for your retirement is pivotal in taking a hold of your financial future. It also means staying up to date with any new considerations for your tax-advantaged plans. The IRS recently announced new annual contribution limits for the 2022 tax year. Let’s take a look at some key contribution information for the 2022 tax … Read More
Before German countess Karlotta Liebenstein died in 1922, she made sure that her fortune would end up where she wanted it to go—to her german shepherd, Gunther I. Now, six generations later, his progeny Gunther VI is still enjoying his ancestor’s fortune. If you don’t name a retirement beneficiary—or worse, you have an outdated beneficiary … Read More
US taxpayers are sitting on $1.35 trillion in forgotten 401(k)s. That’s right–not million, not billion, but trillion. A shockingly high number, yet with over 24 million forgotten 401(k) accounts, one can begin to understand the scope. For many, switching careers is the culprit. The average employee stays with a company for around four years before looking … Read More
As the contribution deadline for those employers who have filed an extension is on October 15, we are addressing a few frequently asked questions to help you determine if a Simplified Employee Pension (SEP) Individual Retirement Account (IRA), better known as the SEP IRA, is right for you. What is a Self-Directed SEP IRA? According to the IRS, … Read More
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