IRA vs 401k

Retirement Options

Roth IRA

Connecticut to Launch Pilot of Auto-IRA Program

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The Connecticut Retirement Security Authority (CRSA) has announced the launch of a pilot of MyCTSavings, the state-run retirement savings program intended to provide coverage for private-sector employees whose employers do not offer them a plan. The pilot is slated to begin in September. The CRSA, a quasi-public agency headed by co-chairs State Comptroller Kevin Lembo and State … [Read more...] about Connecticut to Launch Pilot of Auto-IRA Program

9th Circ. Adds Pressure To Reject Substance Over Form

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Law360 (August 2, 2021, 5:03 PM EDT) -- In Mazzei v. Commissioner of Internal Revenue, the U.S. Court of Appeals for the Ninth Circuit joined the U.S. Court of Appeals for the First Circuit, U.S. Court of Appeals for the Second Circuit and U.S. Court of Appeals for the Sixth Circuit in rejecting the substance-over-form doctrine for transactions involving a Roth IRA and a … [Read more...] about 9th Circ. Adds Pressure To Reject Substance Over Form

Backdoor Roth IRAs Are More Popular, But Facing Regulatory Scrutiny – Barron's

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Backdoor Roth IRAs Are More Popular, But Facing Regulatory Scrutiny  Barron'sBackdoor move enables larger Roth-IRA funding  Medical EconomicsInvestors love Roth IRA conversions amid Biden's looming tax hikes, but they hate the upfront tax bills. Here's one advisor's trick for biting the bullet now to fuel tax-free wealth later  Financial … [Read more...] about Backdoor Roth IRAs Are More Popular, But Facing Regulatory Scrutiny – Barron's

New IRA Allows for Tax-Deferred Bitcoin Mining

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eclipse_images / Getty ImagesIndividual retirement account provider Choice and Bitcoin mining/hosting firm Compass Mining recently announced that they are offering an IRA that would allow miners to produce Bitcoin with special tax advantages. See: Financial Experts React to Rise in Crypto Retirement PlansFind: The Wealthy Actively Use This Roth IRA Strategy, and So Can YouUnder … [Read more...] about New IRA Allows for Tax-Deferred Bitcoin Mining

What Is A Required Minimum Distribution?

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What is a required minimum distribution?A required minimum distribution, or RMD, is a specific amount of money that must be withdrawn from some retirement plans the year after you turn 72.After decades of contributing to your retirement plan, you might be approaching the time to start taking money out of it. Some retirement accounts have required minimum distributions. These … [Read more...] about What Is A Required Minimum Distribution?

Investing some savings is one of the best ways to grow your wealth

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You've reached your emergency fund savings goal, and have the capacity to continue saving even more.Where should you put the money?For younger investors, it's especially important that they're putting some of their longer-term savings into the stock market. With years and even decades until they need that money, they stand to gain the most from such investments.However, … [Read more...] about Investing some savings is one of the best ways to grow your wealth

Investors love Roth IRA conversions amid Biden’s looming tax hikes, but they hate the upfront tax bills. Here’s one advisor’s trick for biting the bullet now to fuel tax-free wealth later

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With taxes on the wealthy seemingly on track to increase under President Joe Biden, many affluent investors have been rushing to reconfigure their retirement strategies to lessen a financial blow in the future.But the strategy of choice — shifting money from a traditional IRA or 401(k) into a tax-advantaged Roth plan — involves a surprisingly nuanced calculus. Factors that can … [Read more...] about Investors love Roth IRA conversions amid Biden’s looming tax hikes, but they hate the upfront tax bills. Here’s one advisor’s trick for biting the bullet now to fuel tax-free wealth later

4 cash-raising pitfalls (and better options)

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If you’ve got more bills than money, the usual advice is to trim expenses and find additional income. But some ways of raising cash can be a lot more expensive than others. Here are four that should be avoided, if possible, and what to consider instead.BEWARE RAIDING A RETIREMENT PLAN A big chunk of the money contributed to retirement plans leaks out as hardship withdrawals, … [Read more...] about 4 cash-raising pitfalls (and better options)