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 ]
Blog
The Quest IRA Blog
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 ]
What is a Backdoor IRA?
Roth IRAs are fantastic ways to grow your retirement tax-free and access contribution funds at any time. However, not everyone can contribute to one. The contribution limits on a Roth IRA vary based on income and marital status. The most someone can contribute to a Roth IRA is $5,500 per year (as of 2018). This limit starts to... [ Read More ]
How is an IRA Taxed?
No matter what type of IRA you choose, you will eventually pay taxes on it. The question becomes, do you want to pay taxes up front or on the back-end at retirement? If you would rather pay taxes now (for example: you think your tax rate will be lower now than in the future), then a Roth IRA... [ Read More ]
What is the Age Requirement to Contribute to a Roth IRA?
With all of the different age limits and contribution limits on the various retirement accounts, it can be confusing keeping track of everything. Roth IRAs are a bit different than Traditional IRAs, including the contribution age limits. Read on to discover when and how much you can contribute to a Roth IRA. Minimum Age Limit Surprisingly, there is... [ Read More ]