Index To IRA Content

IRA stands for individual retirement account, it's another one of those codes for the tax law that describes the rules for how one would fund, grow, and access their individual retirement account. It is so important to understand how IRA's function because of the dramatic effect taxation causes when retiree start to access for income. Do you believe tax rates will be lower, same or higher in the future? Review some content below then Contact Us if you would like to learn how to deal with the permanent lien that Americans experience upon retirement.

To Defer Taxes or Not to Defer?

It's Your Money
To Defer Taxes or Not to Defer?
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Besides the usual market update and some rational academic clarity concerning countries sovereign debt and default, Paul Nichols, the investor coach, is pulling back the curtain on the concept of tax deferral like never before. The vast majority of Americans are making the wrong choice when looking at deferring taxes by utilizing traditional IRAs. With […]

Permanent Tax Lien

It's Your Money
Permanent Tax Lien
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Paul, with Financial Abundance, does a market update this week. This show, as well, focuses on a crucial question that must be answered when it comes to attempting retirement planning, looking at your financial investments, preparing for income streams, as well as potential risk areas that could force you to spend down your life savings. […]

Your Worst Financial Mistake

Have you ever given thought to what might have been your worst financial mistake? For many, the answer does not become apparent until hindsight arrives. Regrettably, many baby boomers and their parents admit that their worst financial mistake was doing it alone, and not working with a trained and experienced financial advisor. When I first […]

Should I stay or should I go???

General Motors retirees, they will have until July 20, 2012, to make the big decision!

That’s the deadline, just a little over five weeks away, when more than 40,000 General Motors supervisory and white-collar retirees will be forced to make what could be the most important financial decision of their lives. Should they accept GM’s offer of a lump-sum “buy-out” of their monthly pension checks and thus possibly receive the biggest check they’ll ever get? Or should they continue to receive a monthly pension check when GM transfers their retirement plan to a private group annuity from Prudential?

From Deb’s Desk – Insider Coaching

Hope this finds you well. It is that time of year when we are all gathering our tax papers, forms 1099’s, 1098’s, W-2’s, etc… Confusing and hectic time of year but also a good time to review, organize and educate yourselves in regards to your finances.

If what you thought was the best way to handle your finances turned out not to be, when would you want to know? And…if you knew, would you do something about it?

2011-2013 tax reporting changes: What you need to know

IRA or Roth?

It's Your Money
IRA or Roth?
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This week Paul Nichol’s, the president of Financial Abundance, coaching session is about the difference between an IRA and Roth. He demonstrates this using the “seed vs. harvest” farmer model and whether you want to pay taxes on your seed or your harvest. The “Investor Coach” hits another home run this week!

Financial Abundance, Inc., a Registered Investment Advisor based in Central Pennsylvania with offices in State College and Lewisburg in Centre County.

Visit Financial Abundance’s website and send Paul a note about the show or a question that you would like to have answered under the “Ask the Coach” link.

http://www.FinancialAbundanceInc.com or 866-867-5745

Traditional IRA…A Permanent Tax Lien

If you were a farmer…and you have a choices: one is to pay tax on your seed in the spring, and receive a tax free harvest. The other option would be to get a tax deduction on your spring seed, and receive a taxable harvest. Which would you choose? The same concept would apply to your […]

Target Funds & 401(k) Plans

A number of years ago, employers began to include Target Date Funds as choices in their 401(k) plans.

The idea behind these investments, sometimes called “Lifecycle Funds,” is to help you to easily allocate your retirement plan contributions. Essentially, you would select a Target Date Fund that was “dated” close to the year you planned to retire, and, often, not include any of the other investment choices available in your company’s plan. For example, if you want to retire in 2015, you might select “Target Date Fund – 2015.” If you thought you would begin to enjoy your Golden Years in 2020, then you might choose “Target Date Fund – 2020.

Taxes…Taxes…Taxes

What else comes to mind when you think of April? Taxes…Taxes…Taxes! I’ve attached a video that may hit close to home for some of you having just recently gathered up and prepared your own taxes. If you found your self saying, “I need to do something about these taxes”, this is a good place to start. Doug is a friend of mine and has been a financial planner for over 30 years and we’ve incorporated some of his Missed Fortune strategies in our own planning as well as in plans for qualified clients. Please stop by the office to discuss some Missed Fortune concepts if you feel proactive tax planning may benefit your situation.

http://www.youtube.com/watch?v=DlfXYzdt4Bk

IRA’s: Traditional vs. Roth

It's Your Money
IRA's: Traditional vs. Roth
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This special podcast focuses on IRA’s and the different types that are available to individual investors. We are focusing on Traditional and Roth IRA’s in this week’s bonus podcast. This show is loaded with a lot of coaching and is a must listen! Let us know what you think and drop us a line if you have a subject for the Investor Coach!

Paul Nichols is the President of Financial Abundance, Inc., a registered investment advisor based in Central Pennsylvania with offices in State College and Lewisburg in Centre County.

Visit Financial Abundance’s website and send Paul Nichols a note about the show or a question that you would like to have answered under the “Ask the Coach” link.

http://www.FinancialAbundanceInc.com or give us a call at 866-867-5745

Thank you

Should I Borrow Against My 401k?

This week, Paul Nichols, answers a viewer question about borrowing from his 401k. We’ve all thought about it, now listen to some advice from the “Investor Coach” to figure out if it’s the right thing for you. Paul Nichols is the President of Financial Abundance, Inc., a Registered Investment Advisor based in Central Pennsylvania with […]

Should I Invest In Gold With 401k Or IRA?

This week, Paul Nichols, answers a viewer question who wants to know if he should invest in gold with his 401k or IRA. Paul gives some very pointed advice on owning gold. Listen in on the “Investor Coach’s” advice to figure out if owning gold is the right thing for you. Paul Nichols is the […]

When Should You Start to Take Social Security

It's Your Money
When Should You Start to Take Social Security
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This week Paul and Luke review the Market Update, the pros and cons of qualified plans and if you should take your social security payments at age 62 or 65.

Tax Planning: Misguided Wisdom

Don’t Limit 401K Deductions to the Amount Matched…I found the following sage advice in a local newspaper: Even though the company matches only part of the 401k contribution, it is to your benefit to put the most away in your 401k plan as you can, since 401k plans are an excellent way to save for retirement. The author of the article went on to profess that often many investors contribute only up to the company match within their 401k plan, and do not take advantage of their 401k plan if the company does not match, and he states that this is a mistake. He finalizes this train of thought by stating that with a 401k plan, an investor receives a double tax benefit.

Roth 401(k)

From the desk of Paul Nichols: President of Financial Abundance Inc.

The Roth 401(k) entered the retirement community in 2006. This investing innovation was created by a provision of the Economic Growth and Tax Relief Reconciliation Act of 2001. Modeled after the Roth IRA, the Roth 401(k) gives investors the opportunity to fund their accounts with after-tax money. Investors will receive no tax deduction on contributions to a Roth 401(k), but they will owe no taxes on proceeds. Participants in 403(b) plans are also eligible to participate in a Roth plan.