A Personal finance blog to get rich
Want to make a smart financial move now that could help create a secure, financially stable retirement? Then you owe it to yourself to explore the intricacies of a Roth IRA.
These special retirement accounts differ from standard IRAs in one extremely important way: you fund them with after-tax dollars rather than pre-tax money.
If you are planning for a better retirement, you actually have more instruments to use right now. You can develop your own investment portfolio and generate passive revenue from the investments you make. You also have the option to invest in real estate and mutual funds, particularly for the long-term gains they offer.
One thing you also want to use when doing retirement planning is the Individual Retirement Account or IRA. It gives you the ability to earn tax-deferred growth on up to $5,000 per year. You also have the option to switch to a gold IRA. What is the difference between the two? Should you get a gold IRA? We are going to answer these questions in this article.
I absolutely love this savvy financial planning tool. When appropriate, the conversion can ultimately save thousands of dollars in taxes. The best part is that is extremely easy. First thing to know about a Roth IRA conversion is the benefits that a Roth itself has to offer. The main difference from its brother the Traditional IRA, is the taxation.
The Roth is taxed at the seeding, and the Traditional is taxed at harvest. This change from taxing money at the beginning instead of the end is profound when you consider a 20-30 year time frame of invested dollars. In order to do this, the contributions into a Roth are not deductible.
How much do you know about IRAs? You probably only heard about it or you may be a regular IRA investor but, really don’t know much about the role it plays on retirement success. How often do you logon to your online IRA account? How often do you open the mailer containing your IRA account statement? Let’s admit there’s a need to learn more, especially if you’re not an IRA investor yet.
First let’s talk about the basic things first, what you most probably already know. Namely, that retirement investing can be confusing. You know that it takes just a few seconds of talking about market cycles, redistribution, indicators, and various other investment speak to have you running for the hammock. And we haven’t even mentioned IRAs, distributions, safe havens, or tax deferred paperwork. (“Honey, seriously, I’m going to take care of it on Sunday.”)
This is yet another guest post from Bill. Bill likes to reach out to my readers again and again and, now I am afraid if you all are going to leave OCAAT for Bill’s blog. Anyway, as usual, this is another great post from Bill, enjoy the post! In case you’re wondering about my absence from blogging, life caught on, I’ll be back soon.
It’s never too early to prepare for retirement. In fact, the earlier you start, the better off you’ll be once you reach your Golden Years, since you’ll have extra money to do the things you’ve always wanted to do.
An estimated 50 per cent of American workers haven’t saved enough money for retirement. A little time spent planning now could mean the difference between a relaxing retirement and working for most of your golden years. Over the course of two years I have written few posts on retirement planning. This guest post talks about the ideal asset allocation in your retirement account as per your age. Enjoy the post from Rose.
Your age, or more specifically the number of years until you retire, is one of the main factors to consider when deciding how much you need to secure your future. You should also bear in mind that the more money you have in your nest egg at an early age, the quicker you can retire.
I was going through the Scottrade 6th Annual retirement survey for 2012. Compared to 2011 the trend seemed favorable to what we, the personal finance bloggers, want to see. Americans all across the board started saving more, spending less and the participation in tax deferred accounts increased. Boomers, Gen X are planning actively for their future
Scene is still not bright for Gen Yers, on the other hand still have a lot to catch up. Today’s young adults fall in this category, age 18 -28, to be precise. As per the survey, only 63% of working class gen Y hold tax deferred retirement account (employer’s 401(k) or IRAs). Still there’s a ray of hope:
Last time we talked about some do’s and don’ts of annuity investment. Here’s a story about what to do with your annuity investment, if you are looking for some alternative. Let it be clear that if you are looking to rollover your annuity investment in to an IRA, you can only do it if your original annuity was bought under an IRA investment. Else you can’t roll over this in to an IRA account. Here’s an expert advice from CNN Money explaining the process.
I do not have any annuity in my retirement portfolio. I was planning to buy one but figured out that we are better served with employer 401(k) and TD Ameritrade IRA account that we have. We are young couple now and we can risk investing in variable return investment in our retirement account. We do not particularly want assured minimum fixed return that a typical annuity offers. If you have an investment already made in annuity and you want to cash out it, may this article help you.
Over the last decade, many investors have experienced significant losses or underwhelming returns in their retirement accounts because of the violent fluctuations in the stock market. Even those investors who allocated capital into cash investments like CDs or savings accounts have failed to realize returns that have maintained pace with inflation.
However, those astute investors who placed capital into gold over the past decade have realized tremendous returns in their portfolio. As central governments print money to stimulate the sluggish global economy, the price of the commodity continues to rise. Investing in gold through your 401(k) or IRA retirement account is a savvy tactic for you to protect and growth your wealth.
Why gold?
Traditionally, gold is sold as commodity, but it can be purchased as numismatic coins as well. Unlike other commodities such as coffee or copper, gold doesn’t have many practical applications. Many investment professionals consider this an advantage for the precious metal to maintain its value because it doesn’t depend on a singular industry or sector of the economy. In addition, the price of gold traditionally rises as the price of other asset classes fall. (Related – The Better Investment – Gold or Silver)
Although I am a financial blogger, I committed many mistakes. although my financial education was solid, still I had my financial bad days. One of them was not having a 401 (k) account or an IRA account as soon as I landed in this country and decided to stay here. Point is, anyone can commit mistakes financially, even experts.
There are many other mistakes people do, USA Today listed a few of them. CBS news claims that their list contains the biggest mistakes. Let me give you some practical advice here for my informed readers. I will not tell you to open a 401(k) account. I know you have a 401(k) or an IRA or Roth IRA, otherwise, that would be the biggest mistake you could do.
