Have you been looking for a way to gain complete control over your retirement funds? Many of us are, and a great way to get this type of control is through the use of a self directed 401k. This gives you the freedom to invest your funds where you want, and gives you freedom to invest how much you want as well. The self-directed 401k is best suited for someone who is self-employed, yet has no employees under him/her. Think of it as a retirement account that is made to perfectly fit your needs. Read the rest of this entry
Because of the tax consequences of making an early 401k withdrawal, it is usually a bad idea to do this. However, there are times when you really have no choice but to dip into your retirement fund. In this case, it is important to make sure you know the 401k withdrawal rules so that you will be well-informed about the cost of taking money out of your 401k before you reach retirement age. Read the rest of this entry
Not sure if a SEP IRA is right for your company? That’s understandable as retirement plans can be confusing, especially since there are a number of ways a company can start a retirement plan for their business. Each type of plan has it’s particular way of being set up and has it’s benefits. Some of those benefits may be great for some, while others may not get the most out of a particular retirement plan. If you are a self-employed individual, or a business owner with a small number of employees, you should definitely look in to getting a SEP IRA. Here are some reasons why: Read the rest of this entry
One of the most important things you need to decide when you change jobs is what to do with your 401k. Most companies will allow you to leave your money in the plan even after you leave your job, but do you really want a former employer to be in charge of your investment account? Not only that but some companies charge a maintenance fee if you’re no longer employed there. That can add up. Another option is cashing out 401k but are you prepared to give away a good chunk of your money in taxes? Probably not. Your best option is to do a rollover 401k into another account and here we’re going to discuss a 401k rollover to Roth IRA. Read the rest of this entry
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