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The Quest IRA Blog

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 ]

Self-Directed IRAs and the American Dream

If you asked a group of people what the American Dream was, you would probably receive a different answer from each person. However, the responses would probably revolve around the central themes of having enough resources to cut down on everyday stresses and/or having a family to share life with. What attracts much of the world’s immigrants to... [ Read More ]

Tips for Investing Out of State

With an investment like real estate, sometimes it makes more sense to take your money to a different state. Whether the market is slow, stagnant, or just not good in your area, many other places around the country are experiencing amazing growth that’s predicted to last a while. Those who get in on the action now can reap... [ Read More ]

What’s Changing with Self Directed IRAs?

While the Tax Cuts and Jobs Act threatened to make big changes with regard to retirement accounts, there were only a few small changes that actually made the final cut. Most of the investment rules and penalties stayed the same for the 2018 year. The changes that were made dealt with recharacterization rules, Roth account income limits, 401(k)... [ Read More ]

Self-Directed IRAs: Three Things You Should Know

Self-directed IRAs are just what they sound like—IRAs that you call all of the shots for. These accounts allow for investments with larger rewards, but you will only reap them if you know what you are doing. Self-directed IRAs are inherently riskier than accounts controlled by a plan manager. Since you are the one choosing the investments, not... [ Read More ]

How to Rollover 401k to IRA

After leaving a job, you may be wondering what on earth you should do with your old 401(k) funds. There are a few options to consider, each with their pros and cons. Always consult your financial advisor before transferring funds, as they can offer advice on which type of transfer is best for your stage of life and... [ Read More ]