Last year, the Wall Street Journal Reported: …there is a precedent when it comes to taxing those who have saved what lawmakers think of as “excessive.” From 1987 to 1997 they imposed a 15% excise tax on annual retirement-plan distributions over $150,000. The tax applied even if other rules forced the account holder to withdraw [...]
Entries Tagged as 'IRA'
Where Should You Invest Your Money?
August 13th, 2011 · No Comments · Investing, Philosophy In Financial Planning, Retirement Planning
Roth vs 401(k): One More Time
February 12th, 2011 · 2 Comments · Retirement Planning
This past week has been somewhat exciting. I spend some of my downtime reading other personal finance blogs. I recently came across a series of posts discussing the virtues and vices of the traditional 401(k) and the Roth IRA (or Roth 401(k)). Just in case you’re not familiar with either type of retirement account, I’ll [...]
Arbitrary Retirement Plan Rules, Part 2: IRAs
January 14th, 2011 · 4 Comments · Retirement Planning
An IRA is an “Individual Retirement Account”. The name is somewhat of a misnomer since the account isn’t necessarily “individual” by nature. Perhaps this is a great lead in to the arbitrary definition of the “Individual” in “Individual Retirement Accounts”. An IRA may be part of an employer-based retirement plan (retirement plans that are only [...]
Will Politicians Steal Your 401K Or IRA?
January 13th, 2010 · No Comments · Current Events, Retirement Planning
Businessweek posted this gem to their website recently, and I hemmed and hawed over commenting on it here on my blog. Well, I’ve decided to have a go at it. Here is the entire article: http://www.businessweek.com/news/2010-01-08/americans-oppose-initiatives-limiting-401-k-choices-ici-says.html The most interesting part of this article is this: The U.S. Treasury and Labor Departments will ask for public [...]
You Own An IRA, Not A Bank CD…or was it the other way ’round?
March 11th, 2008 · No Comments · Budgeting & Money Management, Investing, Retirement Planning
I actually got the idea to write this when I was sitting down with a senior client, and she could not distinguish between a bank CD and her IRA. Not only did she believe that she owned an IRA and not a CD, but she began to argue with me a bit about the fact [...]