401(k) Loan Options At IRA Club, we frequently hear, “I want to leave my job, however, I still have an outstanding loan I took from my 401(k).” The old answer was not very encouraging as there were only two options: Pay back the loan balance and then leave the employer. Leave the employer without paying […]
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The 5 Phases of Traditional to Roth Conversions Youth Accounts: Accounts for persons between the age of 1 day-21 years Youth IRA accounts are frequently started for the young person by a parent or grandparent. Should these accounts be started as a Roth? The answer here is a no brainer: YES. We understand that if started as
Am I Too Old for a Roth Conversion? Read More »
IRA Contributions After Death John and Barbara were happily married. John had a good job, while Barbara, who did a lot of volunteer work, had no earned income. Like many married couples, they annually filed a joint tax return, and like many married couples, both made annual contributions to their respective Roth IRAs. Sadly, in
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Self Directed IRAs and Solo 401(k)s allow you to save on taxes. Learn how to maximize these accounts with six 6 IRA ideas. From contributions to beneficiaries, these tips are not well known. #1 Avoid High Mortgage Rates Do you have a family member who wants to buy a home but cannot because of today’s
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How can I take an early distribution without a 10% tax penalty? We know that IRAs are a terrific way to invest in your future as income taxes on profits are deferred or even income tax-free. When Congress started the IRA in 1974 their intent was simple; Congress would provide us with a major break on
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I’ll Keep This Short With the support and endorsement of speaker of the House Nancy Pelosi, Bernie Sanders has introduced a bill to save Social Security. So far so good. However, instead of fixing Social Security by addressing the real problem, Sanders’ idea is to throw more money at the same problem. Guess where the
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Gauging Volatility Over 15% of the stock market’s value disappeared in less than six months. There are bottlenecks in most industries caused by a shortage of qualified people. The Federal Reserve is cooling the economy to combat historical inflation but may spook the markets in the process. Thirteen states are actively considering reducing or eliminating their
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Company Sponsored Retirement Plans Do you have a 401(k) or another company-sponsored retirement plan? That’s good…to a point. A Bill has passed the House (not yet passed the Senate) that will blindside millions of people. Your hard-earned 401(k) funds will be redirected without your permission and reversing this will be very expensive. Your Options Since 1974, if
Alternative Investing Unlike other companies, IRA Club allows you to select investments that are best for your future. IRA Club does not place artificial restrictions on your investments. This allows for diversification and an opportunity for enhanced returns. A common question we hear is, “What investments may a Self Directed IRA make?” The simple answer is, “A
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Your IRA Is About to Get Even Better! The House of Representatives just passed the Secure Act 2.0. While the Senate has not yet voted, the non-partisan support in the House signals clear sailing for the Bill in the Upper Chamber. Here’s what is in the House version of the Bill. RMDs Required Minimum Distributions
