Individual retirement accounts are one of the best ways to grow your money for retirement. To clarify, an Individual Retirement Account is an account that allows you to set aside money for retirement and grow your savings tax-deferred. […]
Category: Self-Directed IRA
How Due Diligence Works in a Self-Directed IRA
When you’re self-directing your IRA, it’s up to you to do the proper due diligence and research before investing. This means learning about all of the different investment options available to you and ensuring that each one is a good fit for your portfolio. It also includes investigating potential investments thoroughly before putting your money in them. The following are a few steps to help you do proper due diligence when investing in a self-directed IRA. […]
Precious Metals In Your Self Directed IRA – An Update
We know that people are concerned about precious metals investing in their self-directed IRA due to the recent selloff in metals and commodities in general. It’s easy to get concerned when you see corrections all the way to the mid-1500s for gold. But, you have to ask yourself why would gold suddenly just fall out […]
Inflation Can and Will Deplete Your Self-Directed IRA Gains – How to Fight it
Inflation is something most Americans are thinking and talking about a lot lately. Not only does inflation impact the prices of consumer goods; but the federal government also uses it as a benchmark in determining whether to increase contribution limits to qualified retirement plans or to raise monthly Social Security benefits. On an individual level, […]
What Novice Investors Need to Know About SDIRAs
A self-directed IRA is, simply put, a type of retirement savings account that permits you to invest in nearly any type of asset you want using tax-advantaged strategies to do so. Put simply, an IRA is simply a retirement vehicle. The term self-directed has emerged because so many companies serving as custodians of these accounts […]
Know Your Business Retirement Accounts: Simple IRA, SEP, Solo 401K and ESOP (Updated for 2021)
Being aware of the different types of self-employed retirement accounts that are available to you is important to get the most out of your retirement and retirement planning. The accounts that are available to most employees are your typical IRA and 401K with Roth and Traditional kickers. However, your account options are much more plentiful […]
Taxes, Contributions, and a Self-Directed IRA: Your Questions Answered
Ultimately, what makes or breaks a decision on what type of self-directed IRA is right for you will probably come down to tax structures within the account. That means it’s crucial to understand what these benefits mean, the limitations placed on them, and what that means to you. Self-directed IRAs are powerful tools that can […]
Why Not Both? Operating a 401K and an IRA Simultaneously
If you contribute to your 401K account, you may still contribute to a Roth IRA and/or a traditional IRA, as long as you meet the IRA’s eligibility requirements. However, if you wish to contribute to a traditional IRA and take a tax deduction for that contribution, depending on your income, your contribution to your employer’s […]
Start Rolling Over Your 401K to an IRA
When it comes to a 401K, you can take it with you from job to job, and in fact, you should, and it should be in the form of a 401K rollover. But making the most of the money you’ve built up means performing the rollover correctly. Here’s the four-step process for how to rollover […]
Self-Directed IRA Rollover Terminology Broken Down
Rollovers are the most common way to transfer funds within retirement accounts. Transfers and rollovers are transactions that allows for the movement of assets between IRAs and 401K plans. Let’s go over the basic terminology. Direct Rollover A Direct Rollover is generally used when moving funds from an employer plan (like a former employer 401K) […]
The IRS Has Released IRA Contributions Limits for 2020
Each year, the IRS announces IRA contributions and their limits, Traditional IRA deduction income limits, and Roth IRA contribution income limits. Not only is there a maximum amount that Americans can contribute to their IRAs each year, but not everyone is eligible for both types of IRAs. Click here for the self-directed IRA contribution limits […]
Roth IRA Contribution Limits for 2019
After six years of being stuck at $5,500, the amount IRA owners can contribute to an Individual Retirement Account is being bumped up to $6,000 for 2019. The amount you can contribute to a 401K or a similar employer-sponsored retirement plan goes up from $18,500 in 2018 to $19,000 in 2019. Catch-up contribution limits if […]