How to Choose a Gold IRA Company: 6 Things to Keep in Mind
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Gold IRA vs. Traditional IRA: What’s the Difference?
In 1974, Congress created the individual retirement account, or IRA, which allowed people to save for retirement outside of employer pension plans. Investors can contribute to the account and defer taxes until withdrawals begin in retirement. This structure applies to traditional IRAs, which are funded with pre-tax dollars. Other types of IRAs use after-tax contributions…
How to Transfer a 401(k) to a Gold IRA
Not all retirement accounts work the same way. Some are designed to hold a limited set of investments chosen by an employer, while others give investors more control over what they own. Moving money between these accounts can expand or limit the types of assets available. Not all gold products are eligible to be held…
What you need to know before making financial donations
If you’re thinking about gifting your loved ones, here are some tax and logistical considerations. Gift logistics Unless you’re writing a check from your bank account, the logistics of donating funds can get a little complicated. If you want to make a gift from your IRA, your only option is to sell a portion, then…
Are IRA contributions tax deductible? Here are the rules.
Contributing to an IRA can make your retirement years more comfortable, but it can also reduce your tax bill for the year you contribute. To deduct your IRA contributions, you must have a traditional IRA instead of a Roth IRA. Additional restrictions apply based on your income and whether you or your spouse are eligible…
I inherited my mother’s IRA and need to take $10,000 in 2025 RMDs, but there is no cash. What should I settle?
Dealing with the death of a loved one is difficult enough. Having to navigate the complexities of inherited retirement accounts can add to that stress. But understanding your options can help you avoid a large tax bill, especially if you inherit a substantial amount of money. Take Becka, a hypothetical married mother of three who…
Did you inherit an IRA? 5 steps to follow now.
The passing of a loved one creates emotional and financial challenges. The situation becomes more complicated when it is an inherited IRA and you are listed as the beneficiary. The tax rules on inherited IRAs are complicated, and mistakes can be costly. Try to get a head start on smartly managing your inheritance by following…
Withdrawal rules for Roth and traditional IRAs
An IRA withdrawal is when you withdraw money from your individual retirement account (IRA). You can make IRA withdrawals at any time and for any reason. However, as with 401(k) withdrawals, you may be penalized if you take a distribution before age 59½. IRA withdrawal rules differ slightly depending on whether you have a traditional…