Category Archives: Roth IRA

Getting on Track to Hit a Million

No, we’re not taking about the lottery here. We’re talking about retirement savings. Many millennials believe they won’t hit a million dollars in savings by retirement. In fact, a study done by Wells Fargo showed that 64% of millennials surveyed think they will not hit that million dollar mark. About 41% of millennials have not…
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Retirement on a Budget

Many millennials feel the pressure of student loans bearing down upon them and it can be terrifying trying to figure out how to get rid of all of that debt. On top of worrying about your current financials, you have everyone under the sun telling you to plan for your retirement. You’re probably thinking, “With…
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Why a Self-Directed Roth IRA Might Be Right for You

There are some misconceptions about Roth IRAs that may cause some investors to shy away from them but these retirement plans have some positive attributes to consider. 1 – Tax-free distributions. Your contributions are taxed when they go into the plan and are distributed tax free. 2 – Unlike Traditional IRAs, you can continue to…
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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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Retirement Savings: What’s Hot, What’s Not

Americans are saving for retirement in a new way. They have thrown out the traditional three-legged stool (Social Security, employer-sponsored pension plans, and private savings) and replaced it with a pyramid. According to the Investment Company Institute, the five basic components of the retirement pyramid are: Social Security, home ownership, employer-sponsored retirement plans (both private-sector…
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New Year, New Retirement Savings Strategy

Many people make New Year’s resolutions that seem practical. This is the year I will (fill in the blank): Lose weight Save more Get organized Exercise more One resolution that you should put at the top of your list is saving for your retirement. Like any New Year’s resolution, it is all about starting early.…
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Making the New IRS Ruling Work for You

If you have maxed out your 401 (k), have no fear, now there is a new way to make after-tax deposits or rollovers to a Roth IRA. A recent IRS ruling allows eligible workers to easily move after-tax contributions from their 401(k) or 403(b) plan to Roth IRAs when they exit their company plan. This…
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Traditional IRA vs. Roth IRA

Uh oh – we’re in the fourth quarter of the calendar year, it will soon be time to send your tax documents to your accountant . . . and you didn’t set up an IRA yet to start saving for retirement? No worries – you have until April 15, 2014 to make a contribution that…
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Fourth Quarter Reminders about IRA Contributions and Withdrawals

With the last quarter of 2013 upon us, many Americans will make year-end contributions to their retirement plans; however, many individuals are not aware of current contribution limits and eligibility requirements for their Roth or traditional IRAs. All IRAs have eligibility and contribution restrictions based upon your income, age, and employment status. There are also…
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