A 401(k) plan is a retirement account that employers offer employees. It allows workers to save a portion of their salary each month before IRS tax withholding. Many companies calculate contributions as a percentage of the employee’s salary and put the amount in a 401(k) account for the worker before paying them. After reaching a […]
As retirement approaches, it’s normal to ask yourself, “Am I financially ready to retire?” The answer is different for everyone. Many Americans estimate they will need $1.8 million to retire — reaching a precise number can be tricky, but ensuring financial readiness, stability and security is key. In terms of the importance of retirement planning, there are […]
The enduring popularity of the F.I.R.E. (Financial Independence, Retire Early) movement has revealed an intense interest in the idea of early retirement. There’s no doubt that the desire to retire years or even decades before passing the 60-years-old mark is alive and well in the 21st century. While retiring young is a hot topic, it does raise the question: […]
One of the biggest challenges of finding a mortgage lender and buying real estate is saving enough money for the down payment. In some cases, you might find it beneficial to use your self-directed 401(k) to complete the purchase. Like any financing option, buying a property with your 401(k) comes with various pros and cons. In this […]
Health savings accounts allow people on high-deductible health plans to easily cover out-of-pocket medical costs. An HSA is a federally insured savings account offered by institutions such as banks, credit unions and financial benefits companies. Contributions to your health savings account are tax-free, and you can also make tax-free withdrawals and payments for your eligible medical expenses. Additionally, an HSA is […]
Precious metals are just as valuable as assets today as they were in ancient civilizations, which is why they are still a wise investment choice. There are good reasons precious metals attract investors to diversify their portfolios, even when the economy goes through turbulent times. Precious metals’ value stays consistent, even against inflation and currency […]
Many investors have sought alternatives to non-traditional investments to take control of their retirement. Self-directed IRAs offer investors an alternative to traditional investments, allowing them to choose from more asset categories. There are two options for self-directed IRAs — standard self-directed IRAs and self-directed IRA LLCs with checkbook control. With both these accounts, you have […]
Most conventional IRAs consist of traditional investment options such as stocks, mutual funds and bonds. The beauty of a self-directed IRA is that you can explore lesser-known choices like mineral rights, offshore real estate and structured settlements. The range of self-directed IRA investment options allows you to diversify your portfolio in a way that matches your financial goals. You […]
An employee stock ownership plan, otherwise known as ESOP, is much like an employer-provided retirement plan to encourage employees to buy shares of corporate stock and reap the rewards of their role in the company’s success. Generally, you can only buy stocks after being with your employer for a specific period. So what happens to your […]
In the ever-evolving finance landscape, the emergence of cryptocurrencies has ushered in a new era of investment opportunities. One such avenue that has gained significant attention is the concept of a Crypto Individual Retirement Account (IRA). Investors can now use blockchain technology to secure their financial future and explore digital assets, combining standard investment strategies […]
Airbnb property investments are popular because there are many ways to invest and make the properties unique. Whether you’re renting out your personal home or using your retirement account to invest in a new property, Airbnb rentals have the potential to generate consistent income. So, how do you invest in Airbnb property? Learn more about […]
A self-directed IRA is an alternative way to save for your retirement. With this account, you have additional investment assets to choose from, allowing you to diversify. While self-directed IRAs offer more possibilities, they also require you to take the initiative and do your due diligence. Understanding the fees for a self-directed IRA can be […]
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