As a member of the workforce, one of the most important things you can do is build your individualized retirement account (IRA). After all, in order to enjoy your golden years, you need the resources possible to make that happen. This leads to a well-debated dynamic: the merits of a Roth IRA vs. a traditional IRA. If you’re still unsure of how to save for your future, we can guide you through it! Here’s how to determine the best option for you.Continue reading » Deciding Between a Roth IRA vs. a Traditional IRA: Which One is Right for You?
Among the selection of retirement accounts available to you as an investor, each has its own set of rules that governs the way your money is treated both at the time you make contributions to the account and the time you withdraw them. The Roth IRA, a type of individual retirement account, is no different. Knowing the rules of a Roth IRA can help you maximize your retirement savings while reducing the amount of taxes you will pay on them.Continue reading » Learn These 5 Rules of a Roth IRA
As we discussed previously, waiting on an inheritance is probably not a viable retirement plan. However, that does not mean that you should not be prepared in the event that you do inherit a portion of money from your loved ones. It is estimated that millennials will inherit a collective $30 trillion as heirs over the next 30 to 40 years. How do you receive the money you inherit? What are you allowed to do with it? What should you do with it? These are all valid questions for someone dealing with an inherited IRA.Continue reading » What to Do with an Inherited IRA