You do the usual, contribute to your 401K, you max out your IRA, you save and invest every month what you think is a pretty decent amount. But, at the present rate, if you were to retire at 65, can you tell what your income would be? Most don’t have a clue! To be fair, [...]
On an average, a person will switch about 9 jobs during his working career. If he was lucky and smart, he probably enrolled in 401K plans when available. Now, if he didn’t bother consolidating his 401Ks, that’ll be 9 different accounts to remember at the time of retirement! When you decide to leave a company, [...]
IRAs are an excellent way to save for your retirement. It allows for tax-free growth and you have a variety of options on how best to invest the money, unlike a 401K. But IRAs have some requirements. You must be within income limits You must have an earned income equal to or greater than your [...]
1.Can I withdraw money from my Roth before retirement without penalties? Yes and no. Depending upon the context of the word ‘money’. See, money in a roth is not like money sitting in a bank account. There are two parts to it: What you contributed What’s the interest earned on your contribution also called distribution [...]
In my previous post I went through the process of deciding on a Roth IRA broker. I chose Fidelity. In this post, I’ll describe how my account opening experience with Fidelity was. I’ve put up a nice slideshow of the process, so you’ll get a picture of what’s involved. Browser I used Google’s Chrome browser [...]
I recently opened a Roth IRA account. But the decision making process wasn’t an easy one! Here’s how I went about choosing a Roth IRA custodian. The most fundamental rule of smart investing is to keep taxes and expenses low. A Roth IRA account by its very nature is tax efficient like a 401K. But [...]