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Retirement Planning

Roth IRA

The Roth IRA, a popular type of individual retirement account, was created through the Taxpayer Relief Act of 1997. Unlike traditional IRAs, contributions to a Roth IRA are not tax-deductible. However, if certain IRS guidelines are followed, the earnings from a Roth IRA can be withdrawn tax-free. This makes the Roth IRA a valuable tool for saving for retirement.

Earned Income Rule

An important factor to consider when contributing to an IRA is eligibility. Both Traditional and Roth IRAs require an individual to have earned income in order to contribute...

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Contingent Beneficiary Definition

A contingent beneficiary is someone who is next in line to receive assets such as a life insurance policy, retirement plan, or annuity. While spouses are typically designate...

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Traditional IRA

Traditional Individual Retirement Accounts (IRAs) were created with the intention of incentivizing individuals to save for their golden years. This is achieved through three...

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Direct Rollover

A common strategy for individuals looking to transfer funds from a qualified retirement plan to an IRA is through a non-taxable direct rollover. This involves moving the fun...

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