Category Archives: IRA Education

You Can Self-Direct your Health Savings Account

Many people now have the option of having health insurance with a health savings account (HSA), which saves them money on their monthly insurance premiums (and gives them extra cash to fund these accounts). People who have high-deductible health insurance plans may open and fund a health savings account, from which they pay their out-of-pocket…
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Taking Care of Business

Taking care of business means different things for different people. For more than 12 million Americans (10.1% of the U.S. population), according to the 2015 U.S. Bureau of Labor Statistics, taking care of business means being self-employed. Yes, setting one’s own hours and schedule can be terrific. And, for many people being self-employed can be…
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Not Kidding Around About Retirement

Baby boomers are risking their retirement plans by spending too much money on their adult children. As parents, everyone loves their kids and wants to help them any way they can but don’t sabotage retirement for Pete’s (or Petra’s) sake. According to the 2016 U.S. Bureau of Labor Statistics, youth unemployment (ages 16 to 24)…
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Retirement Savings with Your Future in Mind

Saving for a big ticket item like a car is relatively easy—you determine what kind of car you want, how much you want to spend and then you start saving. Saving for retirement is much more challenging. For instance, how long will you need the money? Since no one knows how long they will live,…
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Age is More than Just a Number

When it comes to planning for retirement, everyone should be aware of certain milestones because everyone starts and stops at different times in their lives. Your retirement age could differ from your friends, coworkers, or relatives, but what matters most is knowing the four milestone ages that are important to the growth of your retirement…
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Have You Completed Your IRA Rollover Correctly?

Rolling funds over from one retirement plan to another is not always as easy as it sounds. Direct and indirect rollovers have specific applications and IRS rules, which must be followed carefully to avoid ending up in tax court. Therefore, it is important to know all the ins and outs of the rollover process and…
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What Would The Three Bears Say About YOUR Retirement Fund?

Are you saving too little, too much (is that even possible?) or just enough? The Bureau of Labor Statistics states that roughly half of United States workers participate in a workplace retirement savings plan.   However most of those participants do not calculate how much money they’ll need to fund their retirement,  let alone check to…
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Increased IRS Scrutiny? We Can Handle It!

At Next Generation Trust Services, we want to protect the tax-advantaged status of your account. IRAs holding non-traditional assets are being placed under increased scrutiny by the IRS because of the higher likelihood that a prohibited transaction will take place and/or proper vales will not be reported. Because of the increased scrutiny from the IRS,…
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