Hiring a Financial Planner – Basics, Benefits And Tips

Nowadays, it’s no easy task to manage your money. The world has become so complicated with so many processes we don’t understand that the support of a qualified professional is essential for our survival. Most probably you have come across various terms – financial advisor, planner, manager, etc. – and feel slightly confused. In this article, I will use them as synonyms. Despite the differences, it all comes down to one thing – helping people make wise financial decisions.

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Non-Spouse Inherited IRA: What Are Your Choices

You can’t complain about it – but getting an inherited account is more complicated than you probably think… Why? You may consider inheriting assets as a blessing but if you do not study their implications, you may end up with a liability instead.  Particularly, you want to continue the potential for tax-advantaged growth of these assets while avoiding their income tax impact

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The Best Ways to Help You Boost Your Retirement Savings

Wondering how can you boost your retirement savings? There are three primary considerations why people should seriously find ways of boosting their retirement savings now. On top of them is there is a single fact  – people are going to live longer. In addition to that – the stock market will continue to behave like a roller coaster, and let’s not forget that there will be more job losses […]

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Do You Really Need a Financial Advisor?

Every single person in this world has their job, profession and strong qualities. We need doctors to take care of our health, mechanics to repair our cars, and teachers to show us the path of knowledge. And since money plays a very important role in our lives, a question arises: do I need a professional to help me manage my finances?

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Spouse Inherited IRA – What Are Your Options?

Inheriting an asset may be the blessing you’ve been wishing for or the bane you’ve been trying to avoid.  That is if you’re clueless about what to do about it.  Most probably, you want to make these assets work for you especially if this were an IRA account.  What you need is a way to maintain their tax-advantaged growth while avoiding the irksome impact of urgent income taxes […]

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The Basics Of The Different Types of IRA and Their Benefits

IRA stands for individual retirement account and this is a savings account in which people put some money for “rainy days” – retirement. These accounts offer some tax advantages and there are two main types – Traditional and Roth IRA. To have an IRA you must meet two major requirements – you should be under the age of 70.5 and also have a monthly income. Your IRA will invest the money you have put into the account in various business opportunities – stocks, bonds, and make a profit for you.

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Understand The Pros And Cons Of 401k Retirement Plan

401k retirement plan, have you heard about it? If you haven’t, then you need to be quite attentive on this one. This retirement plan has been around since 1978. It has grown to be the most popular retirement plans. If you look at statistics, one thing is clearly evident, millions of people have benefitted from this plan.

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Penalty-Free Withdrawals From Traditional IRAs

IRA stands for Individual Retirement Account and is a savings account, whose purpose is to support an individual’s life after retirement. IRAs offers some tax advantages which makes them attractive. Withdrawing money (called “early” or “premature” distribution) before the age of 59½ is taxable. Moreover, individuals might pay an additional 10% distribution penalty […]

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What Is 401(k) And How Does It Work

Even as a 401(k) you have lots of restrictions and caveats. In maximum cases, you cannot faucet into your organization’s contributions right away. Vesting is the quantity of time you need to work for your company than having access to its payments for your 401(k) […]

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Traditional IRA Pros And Cons

An individual Retirement Account (IRA) is an outstanding retirement savings tool for a maximum number of people. Created with the aid of the federal authorities, IRAs can be funded at some point of your functioning years.  All through retirement, IRAs may additionally […]

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