IRAs

By definition, a Roth IRA is a retirement account in which gains grow tax-free as long as the money is kept in the account for at least five years. Because Roth contributions are made with after-tax monies, they are not tax deductible. You can, however, withdraw the contributions tax-free in retirement. There are annual contribution […]

provide the same — and in some cases, better — tax-saving and money-growing advantages. Your IRA selection will be influenced by your salary, employment status, workplace benefits, and other things. What are the different types of IRA accounts? Traditional IRAs, Roth IRAs, SEP IRAs, and SIMPLE IRAs are all examples of IRAs. Traditional IRA contributions

provide the same — and in some cases, better — tax-saving and money-growing advantages. Your IRA selection will be influenced by your salary, employment status, workplace benefits, and other things. Are all IRAs created equal? When an IRA is founded, the owner must get two basic documents: These documents explain the laws and regulations that

A Roth IRA is a type of individual retirement account in which you pay taxes on the money you put into it but not on any future withdrawals. When you think your marginal taxes will be greater in retirement than they are today, Roth IRAs are the way to go. If you earn too much

An IRA is a retirement investment account, but an annuity is a type of insurance. Annuity contracts are more expensive than IRAs in terms of fees and expenses, but they don’t have yearly contribution limits. Your annuity payments will be taxed differently depending on whether you purchased it with pre-tax or after-tax monies. The taxation

Deposit accounts held in a regular or Roth IRA are insured by the FDIC and NCUA. Deposits in SEP-IRAs and SIMPLE-IRAs are also insured by the FDIC. For insurance purposes, the agencies treat all IRAs you own at a single financial institution as a single account. For example, if you owned $100,000 in a Roth

Inherited from a previous marriage. If a traditional IRA is left to a surviving spouse, the surviving spouse usually has three options: By declaring himself or herself as the account owner, he or she might treat it as his or her own IRA. Treat it as if it were his or her own by rolling

A SIMPLE IRA is exactly what its name implies: it’s simple. It’s a terrific option for small-business owners who don’t want to deal with the fees and hassles of a 401(k) (k). A SIMPLE IRA is simpler to set up and manage than a 401(k), with fewer requirements and higher contribution limits than a traditional