Archive for the ‘Roth IRA’ Category

Potential Impact On Millennials Of Social Security Reserves Running Dry By 2034

June 19th, 2018

The 2018 Social Security and Medicare Boards of Trustees announced that the Social Security program’s cost will exceed its income this year for the first time since 1982, forcing the program to dip into its nearly $3 trillion trust fund to cover benefits. Congress established trust funds managed by the Secretary of the Treasury to […]

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Why and How to Transfer a Roth IRA to a Self-Directed Roth IRA

May 30th, 2018

Individuals may generally transfer Roth IRA or rollover eligible qualified retirement plan assets into a self-directed Roth IRA LLC structure. Individuals may not rollover Roth IRA funds into a qualified retirement plan, such as a Solo 401(k) Plan or a pre-tax IRA account, such as a Traditional IRA or SEP IRA. Roth IRA Transfers to […]

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How one less Starbucks Cappuccino a Day Can Make a Millennial Difference

April 26th, 2018

I am going to make a bold statement that I will prove to be true with cold hard numbers. Hey millennials – saving just a few dollars a day or about $4.68 for a double tall non-fat cappuccino at Starbucks – my fav)— can make you a millionaire when you retire. I understand it may […]

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If you are a Millennial & Do Not Want to Have to Work Your Entire Life – You Need to Read This

April 26th, 2018

Americans have one of the lowest savings rates for developed countries. Americans are the ultimate consumers, and that definitely plays a role. However, I believe that education—or its lack thereof—is a big factor. Most people don’t understand the basic concepts of retirement planning and how crucial it is, largely because it’s not widely taught in […]

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What You Need To Know Before Establishing A Roth IRA For Your Kids

March 14th, 2018

Here’s the latest article from our own Adam Bergman that appeared on Forbes.com about setting up a Roth IRA for your child(ren) – Numbers don’t lie.  Anyone that has played around with a Roth IRA retirement calculator has probably been tempted to plug in some numbers based on the assumption that they started making contributions […]

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What Happens When You Inherit a Solo 401k Plan?

December 28th, 2017

If you are a beneficiary (rather than the owner) of a qualified plan, such as a Solo 401(k), and receive a distribution as a result of the owner’s death, in general you have the following options: Pay ordinary income tax: If plan assets are distributed to you, then you will have to report the distribution […]

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Roth Conversion Stretch Option Could be Answer to Republican Tax Plan

November 16th, 2017

Republican tax writers on Capitol Hill are still considering changes to 401(k) retirement savings programs, downplaying President Donald Trump’s repeated pledges not to touch retirement account. A proposal to lower contribution caps to 401(k) plans, which are not taxed until money is withdrawn from them, could limit the amount Americans can save for retirement or […]

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2018 IRA Contribution Limits Announced

October 24th, 2017

Last week, the IRS announced the new limits for retirement plans for 2018.  Here’s what you need to know about your IRA Contributions – 2018 IRA (including Self-Directed IRAs) Contribution Limit – Limits remain the same as 2017.  For individuals under age 50, the limit is $5,500.  For those 50 and older, you can make […]

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