What do you do if you over contributed to a traditional IRA? If you made an excess contribution to an IRA, I go over some options that you have. Excess contributions are taxed at 6% […]
In this video, I’ll cover the Backdoor Roth IRA, which is putting money in a Traditional IRA and then converting it to a Roth IRA. I’ll also explain how to properly execute a Backdoor Roth
With the lure of tax-free distributions, Roth IRAs have become increasingly popular retirement savings vehicles. According to the 2015 Investment Company Fact Book 19.2 million U.S. households (about 15.6%) owned Roth IRAs in 2014.
Do you have an old 401(k) at a former employer? Lots of people do and they invariably are faced with not knowing what to do. If you are wondering if you should leave it there or transfer it to a self directed IRA our answer is generally to always convert a 401(k) to an IRA. The benefits to convert a 401(k) to an IRA far outweigh the reasons you should not.