A Designated Roth Account is a special type of account that you can have in a 401(k) or 403(b) plan. Unlike traditional contributions, the contributions you make to a Designated Roth Account are not excluded from gross income and are taxed in the year they are made.
Designated Roth Account in 401(k) Read More »
Choosing between SEP IRA, Solo 401(k), and SIMPLE IRA depends on several factors related to your business structure, income, and retirement savings goals. Here’s a comparison to help you decide.
SEP IRA vs Solo 401(K) vs SIMPLE IRA Comparisons Read More »
SEP IRA: Retirement savings plan that’s simple, flexible, and particularly beneficial for small businesses and self-employed individuals.
SEP IRA (Simplified Employee Pension): A Comprehensive Guide for 2024 Read More »
An IRA Annuity is a blend of two financial tools designed for retirement planning: an IRA (Individual Retirement Account) and an Annuity.
A Closer Look at IRA Annuity Insurance Read More »
A Roth IRA (Individual Retirement Account) is a powerful investment tool that allows you to save for retirement using after-tax dollars.
Roth IRA Simplified: A Comprehensive Guide for Novices Read More »
We get a little bonus from the government – Tax Refund!
Let’s talk about how we can use that refund to not just feel good now, but also set ourselves up for a better future.
Tax Refund Magic: Your Journey to Financial Freedom! Read More »
There are several kinds of IRAs, each with different rules regarding eligibility, taxation, and withdrawals. Let’s get it!
Retirement Plans: Types of IRAs Read More »
What is IRA? IRA stands for Individual Retirement Arrangement. How much can I contribute to IRA? The annual contribution limit for 2024 is $7,000, or $8,000 if you’re age 50 or older (2023 is $6,500, or $7,500 if you’re age 50 or older). Your Roth IRA contributions may also be limited based on your filing
Retirement Plan: New IRA Contributions Limit For 2024 Read More »