Articles Categorized in: Blog
An Individual Retirement Account, or IRA, is designed to meet almost every financial goal and risk profile. When you reach age 59 1/2, withdrawals without penalty are possible. Your IRA may experience losses at times during the year. But remember that, over the long haul, investments typically increase in value. Diversify Your Investments Diversification doesn’t eliminate investment risk, but it can reduce large losses. If all your funds are invested in one company’s stock and it unexpectedly declines in price,...
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Self-directed IRAs give investors more control of their investments, including alternative assets. But these accounts tend to be more complex and may charge higher fees that reduce earnings. Independent verification of account statements should always be considered essential, including prices and asset values provided in account statements. Also reach out to your elected officials and protest the proposed changes to IRAs proposed in the $3.5 trillion reconciliation bill. What is a Self-Directed IRA? Self-directed IRAs (SDIRAs) give investors access to...
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Investment in precious metals can provide your retirement portfolio with inflation protection; however, this investment comes at a cost. Gold requires a self-directed IRA, available only from certain custodians, with additional storage and insurance costs to consider – costs that could quickly accumulate. Taxes Gold differs from stocks and bonds in that it’s less liquid and not recommended for people needing instant access to their funds. Investors can only withdraw precious metals when reaching their required distribution age (i.e. 73...
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As part of your job transition, when leaving an employer it may be necessary to transfer your 401(k) funds. There are various methods available – cashing them out or rolling them over into another retirement account are both options available to you. Direct rollover is the safest and simplest method for moving a 401(k). To do so successfully, coordination must take place between your plan administrator and IRA custodian. IRA Transferring money from an IRA to a 401(k) does not...
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An easy way to rollover your 401(k) is through direct rollover – having your old plan administrator send a check for its value directly to your new IRA custodian. When you receive your check, 20% will be withheld for federal taxes and will need to be reported on your tax return. 1. Find the Right Custodian Experts advise contacting your IRA provider and asking for a direct rollover, wherein the money from your former employer’s retirement account will be moved...
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Gold has long been seen as a safe haven against inflation and can help diversify retirement portfolios. Fund your Gold IRA using cash or rolling over funds from another retirement account such as a 401(k), 403(b), or Thrift Savings Plan – but be mindful of IRS rules prior to doing so. Buying Physical Gold Physical gold or silver can’t usually be invested in through traditional IRAs; to do this, a self-directed IRA is typically required. This type of account allows...
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All investing involves risk, including the potential loss of your entire investment. For a precious metals IRA to yield any returns, gold prices must rise substantially before any earnings can be seen. Before buying physical gold, it is important to carefully consider all associated fees – account setup and maintenance charges, insurance premiums, storage and depository costs are just a few examples – when making your decision. A reliable gold IRA provider will help reduce these expenses considerably. IRA Investment...
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Direct rollover is the safest method of moving retirement account funds, as this way money never actually touches your hands. Indirect rollovers, however, could expose you to more tax complications, including income taxes and early withdrawal penalties. Consideration should also be given to the one-rollover-per-year rule; otherwise, the IRS will tax any multiple distributions made within 12 months. Direct rollovers When moving money from a qualified retirement plan such as a 401(k) or 403(b), such as an employer-sponsored 401(k) or...
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An essay’s introduction paragraph should provide context and motivation for the topic being explored by the writer, while clearly outlining their position on said issue. IRA custodians are financial institutions authorized to safely store IRA investments. Many specialize in alternative investment assets like private notes and real estate. Choosing a Custodian It is important to carefully consider when choosing a custodian for your self-directed IRA, taking several factors into account when making this important decision. A general guideline is selecting...
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Purchases of gold coins or bullion can help diversify your retirement account, yet often come with higher fees and more complicated recordkeeping requirements than more traditional stocks and bonds. Find a trusted precious metals dealer to assist in selecting physical gold coins that meet IRS purity standards, as well as an individual or institution to store or hold onto it all for you. Taxes As much as the advantages of owning gold in an IRA are clear, there are also...
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