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.

IRA: Congress Feels Your Pain

Recognizing the bear market’s severe impact, lawmakers approved an economic relief measure before they adjourned earlier this month that can be a big deal for most older retirement investors.

The legislation suspends for 2009 the rules that force older individual retirement account holders and their beneficiaries to take minimum annual withdrawals, or what’s referred to as RMDs (Required Minimum Distributions).

The legislation, called the Worker, Retiree, and Employer Recovery Act of 2008, applies to RMDs for IRAs, 401(k)s, 403(b)s, and similar plans. It only applies to withdrawals in 2009, so 2008 needs to be taken, and they will be back in force (barring any changes) for 2010.

Withdraw Cash From Your IRA or 401(k) Annually With No Tax Consequence

Most Americans are lured into saving for retirement with traditional qualified retirement plans, such as IRA’s and 401(k)s. They are convinced by financial advisors to contribute pre-tax dollars to 401(k) plans or place tax-deductible contributions into IRAs because of the tax advantages during the contribution and accumulation phases of their retirement planning. They seem to ignore the two most important phases – when withdraw your money for retirement income, and when you pass away and transfer any remaining funds to your heirs.

Tax Planning: All the Dogs Barking Up the Wrong Tree Doesn’t Make it the Right One

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

Socking money away into IRAs and 401(k)s and paying extra principal on your mortgage is counter-productive

In the quest for financial independence, there are two places most Americans accumulate the most money: our home and our retirement plan.

Following accepted wisdom, we set aside money in qualified retirement accounts such as IRAs and 401(k)s, enjoying tax deductible funding and/or tax deferred accumulation. At the same time, we assume it’s best to achieve the goal of outright home ownership and save money no mortgage interest expense by sending extra principal payments against our mortgages.

Our Mission

Our goal at Financial Abundance is to save the world one investor at a time. We want to play our part in the solution to create peace of mind for individuals, families and businesses about their investments. This can be accomplished, through education and understanding with research and studies from Nobel laureates and professors at leading universities around the country. We want to show people that they can, for the first time in their lives, have peace of mind about how they invest; that sleepless nights of doubt can be converted into confidence about their direction regardless of the current economic conditions. Regardless if you’re from Penn State or the state pen you can learn how to be a prudent and educated investor.