Tagged Questions
3
votes
1answer
69 views
Moving money from my savings account to an IRA - why am I paying taxes on it?
I'm planning to move money from my savings account to a new IRA account, but I don't understand why I'll be charged penalties for withdrawing the money.
Why do I have to pay extra taxes to take my ...
5
votes
5answers
208 views
Is there any reason at all to have a traditional IRA if you already have a 401k and earn more than a certain amount?
I was not aware that if you have a work-sponsored retirement plan, then traditional IRA contributions are pre-tax only if your salary is low enough (according to this).
Given that, is there any ...
6
votes
1answer
217 views
Investment methods for a US non-resident alien, living in the US for the next 2-5 years only
If an employer does not offer a 401k plan, what options do I have to invest in stocks, bonds, ETFs, etc.?
Would a Roth account be a viable option considering I will probably be in the US for 2-5 more ...
3
votes
6answers
632 views
why is the money withdrawn from traditional IRA taxed at the ordinary income tax rate?
When money is withdrawn from a traditional IRA account, why is the money taxed at the rate same as for ordinary income, instead of capital gain tax rate? In other words, what is the rationale for it?
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2
votes
3answers
151 views
where to get stock price forecast
I am new to stock market so please be patient with me if my question does not make sense.
I have an IRA account with Fidelity. Their research tool is good and shows analysts opinion of stocks i am ...
2
votes
1answer
30 views
How do IRA conversions actually work?
I understand what IRA conversions are and how they work in theory, but I would like someone who has actually done one (or a few) to explain how it works in practice.
What is the process for the ...
4
votes
1answer
66 views
What tax-free retirement accounts are available for self-employed individuals?
I'm self employed, so I've started to look at what my options are for saving (tax-free) for retirement. Of course I can do an IRA or Roth IRA, but those have lower caps than a 401k.
I had thought ...
10
votes
3answers
338 views
Own my home, have no debt, and must start taking RMDs on an Inherited IRA. What should I do?
My father passed away and I have a sizable amount of money in an inherited IRA (about 2 times my yearly salary). I don't have any debt to pay off as I already own my home, auto, no credit card debt, ...
5
votes
3answers
159 views
IRA contributions in a bear (bad) market: Should I build up cash savings instead?
I have a retirement account (not a 401k with a match, just an individual retirement account) and over the last few years have gotten statement after statement of losses on the value of my retirement ...
6
votes
1answer
136 views
What is the maximum amount that can be held in a traditional or Roth IRA?
What is the maximum amount of money that one can have saved in an IRA? I'm not referring to contributions, but the total amount before withdrawing any money.
10
votes
3answers
90 views
What benefits does investing in a traditional IRA give you, if you are not able to take the deduction?
There are bunch of reasons you would be not allowed to take a traditional IRA contribution deduction (income, spouse's 401k can make things difficult, etc).
If you weren't able to take the deduction ...
4
votes
4answers
667 views
Typical return for an IRA? How can I assess if my returns were decent?
The year to date return on my IRA is currently 5.3%, the DJIA is 9.5%, and the NASDAQ is at 7.7%.
Is this normal or should I be disappointed? I'm just starting to pay attention to this kind of ...
6
votes
4answers
120 views
What are the IRAs tax deduction limits when contributing to both Traditional and Roth IRAs?
If I fall into the phase-out range for a tax deduction on a Traditional IRA can I contribute to said account up to my tax deduction limits for said accounts then contribute the rest of my $ to a Roth ...
9
votes
5answers
2k views
Ideal net worth by age X? Need comparison references
Is there a website resource that gives suggestions for how much savings or net worth I should have at any given age, based on my education level and salary?
I'm in my 30s, have no debt, and have been ...
28
votes
3answers
2k views
Saving for retirement: How much is enough?
How to save
I'm in my late twenties and am trying to get started off on the right foot saving for retirement. I have learned that retirement savings should usually be placed in retirement accounts in ...
2
votes
2answers
256 views
At retirement age, can I roll my IRA variable annuity into a bank IRA?
I have reached retirement age and have a variable annuity with Hartford. I would like to get out of the annuity and roll over into a bank account IRA. I have held the product for 12 years and there ...
7
votes
3answers
118 views
Fees and Individual Retirement Accounts
I recently resigned from a full-time position where I saved for retirement via a 401(k). I'm now self-employed, but I want to make sure my retirement plan stays on track.
I spoke with an investment ...
3
votes
3answers
710 views
What are the advantages/disadvantages of a self-directed IRA?
I recently learned of self-directed IRAs.
Here is how it works:
I open a self-directed IRA account with a company that acts as a custodian of my account (here is a short list of such companies).
I ...
7
votes
4answers
303 views
Who buys variable annuities?
Last year the people making my taxes suggested a variable annuity instead of my traditional IRA. This variable annuity was supposed to guarantee 8% return year after year with no exception or market ...
9
votes
1answer
727 views
Any Experience with the Gone Fishin' Portfolio?
In doing research on How to Select IRA Investments, I stumbled across the Gone Fishin' Portfolio. This link where I found out about the portfolio claims that it is based on the 1990 economics Nobel ...
4
votes
1answer
95 views
How to Select IRA Investments?
I'm helping a friend roll over his 401K into an IRA. How can I advise him as he selects what to invest his money in? Factors I know to consider:
Rate of return over 1, 3, 5, and 10 years (and ...
6
votes
2answers
198 views
Beneficiary IRAs and Required Minimum Distributions
If you receive a (non-spousal) Beneficiary-traditional IRA as a beneficiary due to death, is there a way to avoid taking a Required Minimum Distribution until your own retirement age? Or are you ...
6
votes
2answers
1k views
Why won't my retirement account let me write a “covered put”?
My retirement account (a traditional IRA) will let me write a covered call, where I sell a call option if I have the underlying securities (for instance, 100 shares of IBM). The shares are required to ...
4
votes
4answers
237 views
What happens to a tax deferred retirement account when you reach retirement age?
There always seem to be tons of articles about maximizing the amount money in your 401ks and your IRAs, but there doesn't seem to be much talk about what happens to those accounts when you get to ...
10
votes
2answers
332 views
Can you have a Roth IRA and a traditional IRA? What about two separate IRA accounts of the same type?
I'm interested in starting a new brokerage account somewhere. I would like to "test the waters" before transferring my entire IRA to them. Is there any law against having a completely separate IRA ...
4
votes
1answer
102 views
What kind of traditional IRA should I use to hold funds from old employer 401K plans?
Further to another question I asked , if I am going to open a traditional IRA to hold funds consolidated from old 401K plans, what should I be looking at for the most flexibility? There are lots of ...
16
votes
1answer
384 views
What are the differences between a “traditional” IRA and a Roth IRA?
I hear that a traditional IRA offers a tax deduction whereas a Roth IRA doesn't, but there's got to be more to it than that: What makes a Roth IRA any good, if it doesn't provide a tax deduction? ...
