A self-directed IRA has some distinct differences from an IRA held at a traditional type of custodian. Generally, with traditional custodians, investments are limited to stocks, CDs, bonds, mutual funds, and other related types of investments. However, a self-directed IRA provides a broader range of choices, allowing account owners to diversify their holdings with a variety of investments.... [ Read More ]
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The Quest IRA Blog
Everything You Want to Know About Traditional IRA RMDs
If you have been contributing to a Traditional IRA, eventually you will need to take yearly required minimum distributions (RMDs). The first RMD is required the year you turn 70 ½, and they continue each year after that. Roth IRAs don’t require RMDs, since those contributions were made post-tax. RMDs on Traditional IRAs are the government’s way of... [ Read More ]
Difference Between a Roth IRA and a Roth 401(k)
Many people can find similarities between a Roth 401(k) and a Roth IRA. Each contribution for each type of account will be made after taxes have been completed. The earnings from these accounts can be removed without being taxed at the age of 59 ½. Though these accounts have many parallels and similarities, they are also very different... [ Read More ]
How to Maximize the Growth of Your Investment IRA
When starting to plan for retirement, it’s important to start looking into tools that will help make the financial transition into retirement go as smooth as possible. Most people who are looking into ways that they can simplify the retirement process usually turn to an Individual Retirement Account. These are accounts that can have annual contributions, which can... [ Read More ]
Simple Rules for Beginner IRA Investing
For big companies, retirement investing isn’t something that employees have to put a lot of thought into. They have their 401(k) plans set up for you can you just have to decide a few of the smaller details. But when it comes to investing in an IRA, there is a lot more that goes into the decisions you... [ Read More ]
Are You Prepared for the Unexpected with Real Estate Investment Properties?
Investing in real estate property is not like other retirement investments. It requires owners to be more hands-on and involved than typical stock options. Those hoping to use a self-directed IRA to invest in real estate will need to investigate market trends, learn the local real estate laws, and thoroughly inspect the property before investing. The plan owner... [ Read More ]
Potential Benefits of Investing in Notes in an IRA
For investors who want in on the real estate game, but don’t want the headache of owning a property, real estate notes are often a good compromise. Don’t get us wrong, notes do require a bit more work than the average investment, but there are plenty of options to fit anybody’s budget and time commitment. Below we will... [ Read More ]
Can a Non-Working Spouse Have an IRA?
Since it’s not possible to have a “joint” retirement account, like a joint bank account, there are ways that both spouses can own an IRA, even if one is not employed. Normally to open an IRA, one must be earning taxable income. It does not matter how old a person is or how much they make, as long... [ Read More ]
Three Ways a Roth IRA Could Be for More than Retirement
When people think about IRAs, they typically associate them with retirement. After all, that is what they were designed for. However, some investors don’t realize that funds from a Roth IRA can be used for other expenses that may arise before retirement. Below we will explain the three main categories people use their Roth IRA funds for besides... [ Read More ]
What is the Penalty for an Early Withdrawal from an IRA?
If you’re asking this question, then you’re most likely needing a financial boost and are wondering if your retirement funds are an option. While most financial advisors would recommend never touching your retirement funds unless in a true emergency, there are some circumstances where you may avoid penalty on an early withdrawal. Before discussing these, we will explain... [ Read More ]