A SIMPLE IRA is a retirement account option offered by small businesses with 100 employees or less.
SEP IRA is a retirement savings plan for business owners and self-employed people. A SEP plan has higher contribution limits and grows tax-deferred.
A traditional IRA allows you to make pre-tax contributions to save for retirement, while Roth IRAs are funded with after-tax money.
When it comes to 401(k) plans and IRAs, neither option is better in general, but depending on the features, you may favor one retirement option over another.
You can open an IRA, or Individual Retirement Account, via several kinds of institutions, including banks, brokerages, and robo-advisors.
The number of 401(k) millionaires hit a record this year, Fidelity said. At the same time, Americans are leaving the workforce at younger ages.
The average 401(k) employee savings rate logged a record rate of 9.3% in the second quarter, said Fidelity.
A bitcoin IRA is a self-directed individual retirement account allowed to hold cryptocurrencies. The pros of bitcoin IRAs include portfolio diversification and tax-free gains on profits. Bitcoin IRA drawbacks include high fees and the responsibility of managing your own account. Visit Business Insider’s Investing Reference library for more stories. Not […]
Parents and grandparents can open a Roth IRA for kids regardless of age, provided the child has earned income. Anyone can contribute to the child’s Roth IRA, as long as they don’t exceed the amount of the child’s earned income. A custodian controls the Roth IRA until the child reaches […]
A Gold IRA is a type of individual retirement account that allows investors to hold physical gold or other precious metals, unlike standard IRAs. To hold gold in an IRA, you need to create a self-directed account, administered by a specialist custodian who handles and stores the metal. While convenient, […]
The Roth IRA 5-year rule refers to a waiting period imposed on certain types of account withdrawals. The 5-year rule applies in three instances: withdrawing account earnings, converting a traditional IRA to a Roth, and inheriting a Roth IRA. Unless you qualify for an exception, you’re liable for income taxes […]
A rollover IRA is a tax-advantaged account that accepts funds from your former 401(k) or other workplace retirement plan. Establishing a rollover IRA allows you to avoid the taxes and penalties that normally come with a 401(k) withdrawal. In rolling over funds, it’s important to observe certain transfer procedures and […]
A self-directed IRA (SDIRA) is a kind of retirement account that allows you to invest in assets that are off-limits to regular IRAs. You directly manage your self-directed IRA, and so are responsible for researching your investments and their tax consequences. In general, self-directed IRAs are available only through a […]
An inherited IRA is an account an individual establishes with the funds bequeathed from a deceased person’s IRA or 401(k). Inherited IRAs follow the same tax regulations as regular IRAs: You only owe taxes on the funds you withdraw. Spouses aside, most beneficiaries can’t make contributions to an Inherited IRA […]
The Justice Department moved on Monday to drop its cases against 13 Russian nationals and three Russian entities indicted as part the FBI’s investigation into Russian election interference. In a court filing, prosecutors accused one of those companies or taking advantage of the US legal process to harm national security […]
I transferred my retirement savings to Wealthsimple because I wanted to put my money into socially responsible investments. About a month after I opened my SEP IRA, I noticed that my investments had lost about 1.2% of their value. I’m not worried, though, because I understand that the market fluctuates […]
The Senate Intelligence Committee released a report Tuesday about Russia’s social-media disinformation campaign during and after the 2016 election. One of the panel’s chief recommendations to the Trump administration is for it to “reinforce with the public the danger” posed by foreign election interference leading up to the 2020 election. […]