A Simple Guide to 401(k) Accounts
A 401(k) or Solo 401(k) can help you save for retirement and plan your future wealth. Learn more about what this account is and how it works.
What is a Self-Directed Health Savings Account (HSA)?
A Self-Directed Health Savings Account is an HSA that allows you to save for medical expenses and use your funds to invest without custodian consent.
Power of Compound Interest
In the following, we discuss compound interest and why it’s such a powerful tool for saving. It’s even stronger in a retirement account because there are generally no taxes due annually. The combination of compound interest and tax deferral makes the IRA and 401(k) the best way to save. Of course, you have to follow […]
6 Things You Should be Doing with the ROBS Structure
The Rollover for Business Startup (ROBS) Solution is an IRS and ERISA approved structure. With this structure, you can use your retirement funds to capitalize in a new business/franchise that you have personal involvement in. Because of an exception under Internal Revenue Code (IRC) section 4975(d), also known as qualifying employer securities, when you employ […]
Taking RMDs from Retirement Accounts
As we approach the end of the year, it’s time to start getting your retirement accounts in order. There are certain things you must do, depending on your age and the type of account(s) you have. Today, we are going to look at required minimum distributions or RMD. Taking RMDs must be done by anyone […]
Traditional vs. Roth IRA – Which is Right for You?
Traditional vs. Roth IRA: which is better? Learn more about rules, withdrawals and more info on both Individual Retirement Accounts (IRAs).
The Traditional vs. Roth 401(k) Plan
When it comes to choosing between a traditional and Roth 401(k), you must decide whether you want to pay taxes now, or defer them until later.
Millennial Roth IRA: How Can You Benefit
A Millennial Roth IRA is essential a Roth retirement account that allows you to save for retirement in a tax-free environment.
ROBS 401(k) Plan Contribution Rules & Limits for 2023
The Rollover Business Start-Up Solution (“ROBS”) is the only legal way one can use retirement funds to start or fund a business involving the retirement account holder or a lineal descendant. Whether you are starting a new business/franchise or buying an existing one, the ROBS solution will allow you to accomplish your business goals – […]
Beneficiary Forms: Self-Directed IRA & Solo 401(k)
Beneficiary Forms pertaining to self-directed IRAs or Solo 401(k) plans can come with complex scenarios. IRA Financial Group can help you better understand the rules.