IRAs

IRA vs 401k What’s the Difference?

401ks

An IRA and a 401(k) are both retirement programs. The main difference in an IRA vs 401k is that an IRA is an Individual Retirement Account, meaning an individual is solely responsible for opening it, paying into it and controlling the investments in it. A 401(k) is a retirement program set up by an employer. [...]

How to Use Your Roth IRA for a Vacation

IRAs

The other day I overheard a few friends talking about their honeymoon in Hawaii.  My wife and I would love to go on a trip to Hawaii, but it’s just a little too expensive for us right now.  That is, unless you cash in your Roth IRA to go on vacation. That’s exactly what this [...]

How To Take Advantage of Roth IRA Tax Benefits

IRAs
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We all know that saving money is really the key to building long-term wealth.  Just this week, I was reading an article by Mark Cuban, discussing how to create real wealth.  Right now Mark Cuban is a really happy guy.  He is the outspoken, charismatic owner of the Dallas Mavericks, and if you weren’t aware, [...]

8 Exceptions to the 10% Penalty for an Early IRA Withdrawal

IRAs
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Need cash?  Thinking about taking an IRA withdrawal? Think long and hard because you may have to pay  a nice little 10% penalty for early IRA withdrawals! IRA penalty – Oh yeah, Uncle Sam will love you! If you are age 59 1/2 or older, you can take an IRA withdrawal without any penalties at all. If [...]

What Kind of IRA Rates Are You Getting?

IRAs
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I should do a post of the most commonly asked questions I get when talking about personal finance with folks. How much interest is your IRA paying would probably rank in the top five for sure! Or you could phrase it this way – what are your IRA rates these days?  Or even, What’s the best [...]

4 Factors to Consider Before Doing a Roth IRA Conversion

IRAs

So we are about halfway through 2010!  Hard to believe isn’t it? Although some of the buzz has seemingly died down about the year of the Roth IRA Conversion, there is still some controversy regarding whether folks should convert their Traditional IRAs to a Roth. For those of you wondering what exactly is a Roth IRA,  Well, here are the [...]

What Should You Do With Your 401k Plan When You Leave Your Job?

401ks

“Mr. Jones, we appreciate your work for us, but unfortunately there’s just not enough room in our budget for you. Here’s a packet of information regarding your retirement account.  Please look this over and have a decision made about your 401k plan by the 31st.” Ever hear these words? Maybe your company didn’t sound as nice, [...]

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