On one of my previous article, I’ve talked about the two types of non-employer sponsored retirement plan, which is the Individual Retirement Arrangement also known as IRA: The Traditional IRA and the Roth IRA. The Roth IRA is fairly new as the plan is only 13 years old (inception is 1998 as a result of the Taxpayers Relief Act of 1997) while the traditional IRA has been … [Read more...] about Traditional Vs. Roth IRA: What Are The Differences
Investments
Traditional Vs Roth IRA: What Are The Similarities
On one of my previous article, I've talked about the two types of  non-employer sponsored retirement plan, which is the Individual Retirement Arrangement also known as IRA: The Traditional IRA and the Roth IRA. The Roth IRA is fairly new as the plan is only 13 years old (inception is 1998 as a result of the Taxpayers Relief Act of 1997) while the traditional IRA has been … [Read more...] about Traditional Vs Roth IRA: What Are The Similarities
The Early Withdrawal Consequences on a Roth IRA
There might come a time when you'll find yourself in a financial bind and  may not have any other options but to tap your retirement plans. The IRS considers any withdrawals from your retirement plan an early withdrawal or distribution if made before you reached the age of 59 1/2 years. In general, the early distributions from most retirement plans will be included in your … [Read more...] about The Early Withdrawal Consequences on a Roth IRA
7 Quick Facts About Roth IRA Contributions
In general, contributions to a Roth IRA are made using your after-tax dollars. Thus, there is no upfront tax savings to you, which may seem a bad deal on your current year's finances. However, the key advantage of this type of IRA is if you start receiving distribution come retirement time, you will not have to pay taxes on that. In addition, you can make an early withdrawal … [Read more...] about 7 Quick Facts About Roth IRA Contributions
My Employer Has Restored the 401k Matching Contribution
A few months ago, my company has been looking to cut cost in order to balance their budget. I guessed, I can say that to most companies during the economic downturn. The company does not have any plans of laying off people and we are also in a hiring freeze except for the critically needed staff. However, what they did was the company stopped the matching contribution to my … [Read more...] about My Employer Has Restored the 401k Matching Contribution