Individual Retirement Accounts - IRAs
Strategies for maximizing your Individual Retirement Account (IRA’s) Investments, Tax Savings and Timing of Required Minimum Distributions
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Examining More Angles to IRA Conversions
Several key factors determine whether it is a good idea to convert a traditional IRA to a Roth IRA. We discussed these in recent visits, and they include the difference between your tax rates now and in the future, how you pay the taxes on the conversion, and the rate of return on your IRA. […]
Knowing When to Reverse an IRA Conversion
IRA owners are presented some rare opportunities with Roth IRA conversions. One opportunity is to create a stream of tax-free income by converting a traditional IRA into a Roth IRA. The other opportunity is to reverse the conversion if you decide it was not the best move. Very few tax strategies come with second chances. […]
Investing Your IRA to Escape Penalties
Investors are starting to fall into traps with their IRA investments. The law has had these traps for many years. They are being sprung now because more invest-ors are attracted to nontraditional investments. Investments in publicly-traded stocks, bonds, and mutual funds don’t pose problems, but purchases by IRAs of some nontraditional investments are prohibited or […]
Putting RMDs Back in Your Plan
Required minimum distributions (RMDs) from traditional IRAs were suspended only for calendar year 2009. Congress did not extend the suspension, and doesn’t appear to have any interest in extending it. You must return to pre-2009 rules and take RMDs in 2010. The first RMD is due by April 1 of the year after you turn […]
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More Planning Tips for IRA Conversions
We covered a lot of ground on IRA conversions in recent visits. We’ve been thorough but there are a few more angles that you should consider before deciding whether to convert a traditional IRA to a Roth IRA. Early is Best You can convert your traditional IRA to a Roth IRA any time during the […]
Knowing When to Convert an IRA
Should you convert a traditional IRA to a Roth IRA? How do you decide? The answer is not the same for every IRA owner. The strategy that puts the most after-tax wealth in your pocket is determined by several variables. Is your tax rate higher or lower now than it will be in retirement? How […]
Scrutinizing Your IRA Custodian
Few IRA owners give much thought to their custodians. Yet, the custodian can make or break your financial plan, and all custodians are not equal. Take a few minutes to learn about your custodian and its policies. Your IRA must be held by a custodian or trustee. Most financial services companies serve as custodians: brokers, […]
More Lowdown on Roth IRA Conversions
The Roth IRA conversion opportunity is getting closer. Last month we discussed the basics of the opportunity and who should consider taking advantage of it. We continue the discussion in this visit with more details about the rules and ways you can enhance the benefits. To review from last month, next year the income limit […]
