Here are 5 exceptions to the 10% Penalty for Early Withdrawals I’ve come up with after sourcing through the documentation provided by the IRS on IRA’s. Take advantage of these only if you have to, taking money out of your retirement is serious business. Medical Insurance That’s […]
Today I’m going to compare two IRA’s side by side to give you some insight on which is the best for you. The two we are going to look at are the Simple IRA and the SEP IRA. If you wish to know some more in depth […]
What is a SEP IRA? An SEP-IRA is a variation of the traditional IRA and is used by small businesses to provide retirement benefits for its business owners and their employees. SEP-IRAs do not require the start up costs that conventional retirement plans have and allows contributions […]
What is a SIMPLE IRA? A SIMPLE IRA is a tax-favored retirement plan that certain small employers and the self employed alike can set up for the benefit of they’re employees or when talking about the self-employed, can set up to benefit themselves. SIMPLE IRAs are written […]
What is a Traditional IRA? A traditional IRA is an IRA that is not either a SIMPLE IRA or Roth IRA. They have two main advantages for investment and those are 1.) You can deduct some and sometimes all contributions to it, which just depends on your […]
What is a Roth IRA? A Roth IRA is an individual retirement plan that provides more flexibility than a traditional IRA. The Roth IRA offers many advantages over a traditional IRA but has an income limit that is based off your filing status. Roth IRAs are a […]
The odds of winning the powerball is about one in 300 million. But hey, if you have some loose pocket change, go ahead on buy a ticket. Now the question is, “What would you do with the money if you won the powerball?”
