The way they are funded and the rules governing withdrawing funds, are the major differences between a Roth IRA and a traditional IRA.  

IRA Funding

Traditional IRAs are funded with your income dollars before Read the rest of this entry

Popularity: 9% [?]

As I mentioned in an earlier post, a Simplified Employee Pension Plan, is a retirement plan specifically designed for small-business owners and self-employed individuals. These plans work even if you are the only employee, as the rules are the same.

 Don’t Forget To Check Out “Maximizing The Bank Of You Concept”

Key features include: Read the rest of this entry

Popularity: 4% [?]

Don’t Forget To Check Out “Maximizing The Bank Of You Concept”

Simplified Employee Pension Plans (SEP), are retirement plans designed for small-business owners and slef-employed individuals. Employers can make tax-deductible contributions on behalf of their employees because the plan is based on an IRA. That means, if you are eligible, you will not pay taxes on the contribution but you will pay them on the distribution you receive from the SEP account. Read the rest of this entry

Popularity: 7% [?]

If you are trying to figure out what retirement plans are available through your employer, keep in mind that Employer retirement plans and the tax laws that back them are very complex. Do not hesitate to seek outside help if you need help determining the best plan for you.

Most plans fall into one of two categories: defined benefit or defined contribution.

Defined Benefit Plan

There are two key features of a defined benefit plan. One, the employer commits to the benefit, and two, the employer takes on the responsibility of managing the plan. Now, the benefit is based on what’s in the plan when you retire. So, company may define a plan that requires it to deposit a Read the rest of this entry

Popularity: 9% [?]

This is a sample of one of our Financial Education Training Videos coming to our new training site within 30 days. Make sure that you click on the subscribe button in the video so that we can let you know when the new site is up and stay informed when new video’s are produced.

Popularity: 15% [?]

War On Wealth Series: Taxes

Typically saving for retirement is the last thing on the mind of very young people, but the federal government if giving you a special tax break (on top of the tax break you already get) that can slice your after-tax cost tremendously.

The issue is, Read the rest of this entry

Popularity: 7% [?]

We’re heading into late summer…two-plus years into the country’s deepest recession since the Great Depression…and the mild optimism offered Read the rest of this entry

Popularity: 9% [?]

War On Wealth Series – Taxes

With every tax dollar you pay you move further along the road of becoming an Accidental Philanthropist. Since the first income tax in the United States was imposed (under Article I, section 8, clause 1 of the U.S. Constitution) in 1864 during the Civil War, there has been an internal war raging in this country. That war, “The War On Wealth”, has been Read the rest of this entry

Popularity: 11% [?]