Category Archives: IRA Contribution Limits

5 Easy Tips for Self-Directed Beginners

  You may have read our previous article about Self-Directed IRAs, and now you’re interested in starting one of your own.  Self-directing can be easy, but in the beginning it can seem like there’s a lot of information being thrown at you at once. I have compiled a list of 5 tips that can help…
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Staying Fit in Retirement Could Mean a Healthier IRA Future

An article on Bloomberg.com recently cited that Fidelity Investments has estimated a 65-year-old couple who retired in 2014 would need, on average, $220,000 to cover out-of-pocket medical costs over the course of their retirement. This figure assumed there is Medicare insurance but no (additional) retiree health-care insurance through a former employer. (Add to that figure another…
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IRA worth millions a tax problem?

Jaime Raskulinecz, CEO and founder of Next Generation Trust Services was featured in the following article by Sheyna Steiner on BankRate.com If you put $5,500 in an IRA every year beginning this year and earn 6 percent returns on average, it would take roughly 42 years for your account to grow to $1 million. Yet,…
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Have You Taken Your 2013 Required Distribution from Your IRA?

Although you may start taking distributions from your IRA without penalties starting at age 59-1/2, you are required to take these annual disbursements upon turning 70-1/2 years of age. These distributions from your retirement accounts are taxable income in the year those funds come out of the account. So if you missed your 2013 distribution…
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2014 Pension Plan Limitations Announced by IRS

The Internal Revenue Service announced some cost-of-living adjustments (COLA) for the 2014 tax year. These adjustments affect employer-sponsored retirement plans such as 401(k)s, defined benefit plans, simplified employee pension plans (SEP IRAs), savings incentive match plans (SIMPLE IRAs) and Roth and Traditional IRAs. A few did not change but many did; you can read the…
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2010 Contribution Deadline Looms

As many of you know, the tax deadline and contribution deadline for 2010 has been extended until Monday, 4/18/11. As it is quickly approaching, it is imperative you make arrangements now if you wish to make an IRA contribution for 2010.

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