One of the best things about using a 401(k) to invest for retirement is that you can put your investments on autopilot. However, this doesn't mean you should simply set up your401(k) contributionsonce and forget it forever. You need to make sure you...
We’re just going to pretend I did for the sake of this post. 🙂 I once had a client ask me, “Jeff, if you had a million dollars, how would you invest it?” The reality is, that there are a ton of different strategies I would personally use to invest $1 million dollars and...
You can still save for retirement even if youdon't have access to a 401(k). Anyone earning income can contribute toan individual retirement account (IRA), which lets you invest instocks,bonds,mutual fundsand other asset classes. Traditional IRAsallow investors to contribute pre-tax dollars so...
Once you turn 50 years old, the IRS allows you to contribute an additional $7,500 to your 401(k) this year. So you’re allowed to put in $30,500 total. And including your employer’s contributions, you’re allowed to get a total of $76,500 put into your account. However, in al...
2024 bill would repeal social security taxes a bill has been introduced to eliminate taxes on social security benefits. maryalene laponsie dec. 13, 2024 2025 changes to ira rmds new withdrawal requirements for inherited iras create tax planning challenges for beneficiaries. kate stalter dec....
Can you explain the various rules (currently anyway) for inherited IRAs and 401K type accounts? I thought some had to be taken over 10 years. Reply The White Coat Investor | December 15, 2023 at 6:56 am MST Did you see this post last week? https://www.whitecoatinvestor.com/inherited...
Everything You Need to Know About Inherited IRA Rules Best Self-Directed IRAs Investing in Precious Metals Gold IRA Physical Possession Portfolio Diversification Strategy IRA vs. 401kPost navigation PreviousHow to Invest 10 Million Dollars Safely Next Hero Bullion Review 2023: Is It a Legit Company?
Roth IRAs inherited before 2020 can still use what’s often called the stretch IRA strategy. That approach lets heirs “stretch” the inherited Roth IRA withdrawals over their lifetimes. That can allow the IRA to continue building up earnings tax-free, potentially for decades. However, the SECUR...
If you want to invest in gold, make sure you get it from someone you can rely upon or who has a decent market reputation and deals on gold’s spot price. Producers such as Royal Mind and the United States Mint have an admirable significance, which assures you of the grade of the gold...
Do you really have to take money out? Yes, you do for traditional IRAs, 401(k) and 403(b) plans, SIMPLE, and SEP IRAs. RMDs are not required for Roth IRAs or Roth balances (except for inherited Roth balances) in workplace plans. The tradeoff you get for letting your savings compou...