Jul 18, 2020 | Retirement, Roth IRA
Q: A friend of mine says that if you withdraw money from a Roth IRA within five years of putting it in, you’ll pay tax and a penalty. I started my Roth in 2018 when I turned 30 and thought I could get the $11,500 I have put in over the last two years out at any time...
Jun 29, 2018 | Retirement
The big question people always ask when it comes to retirement is “How much money do I need to save to retire comfortably?” And the big answer ― $1 million ― sends many of us into a head-first tailspin. But before you say, “I’ll take that cat food in bulk, please,”...
Mar 26, 2018 | IRA, Retirement, Roth IRA, VIP Members
Roth IRAs have two big tax advantages The two most-important Roth IRA tax advantages are: Tax-Free withdrawals Unlike traditional IRA withdrawals, qualified Roth IRA withdrawals are federal-income-tax-free and usually state-income-tax-free too. What is a qualified...
Aug 14, 2017 | Lifestyle, Retirement
Health savings accounts (HSAs) are one of the best types of investment accounts available and most people don’t know anything about them. It can be better than a 401(k), an IRA and even a Roth IRA. Those accounts are good, but this one is even better. Maybe it’s not...
Apr 8, 2017 | Retirement, Roth IRA, Self Directed IRA
Ed. Note: This article first appeared in CNBC The April 18 tax-filing deadline is looming, and many corporate executives, attorneys and other professionals earning high salaries are seeking to save more money and cut their taxes. There is a great strategy that they...
Mar 29, 2017 | Estate Planning, IRA, Retirement, Roth IRA, Self Directed IRA
So you’ve inherited your spouse’s IRA. What you do now could have far-reaching tax implications. The one thing you cannot do is sit on your hands. Why? Because if you fail to withdraw at least the required minimum amount from your inherited IRA, you will be charged a...
