The U.S. Tax Court in 2014 re-wrote the rules on rollovers between Individual Retirement Accounts (IRAs).
Up until until January 1, 2015, an IRA account holder could withdraw IRA money from either a traditional or Roth IRA and have 60 days to redeposit the funds back into the same type of retirement account. No penalties or taxes were imposed in this "rollover" as long as the funds met the 60-day rule. The IRA investor could use this "60-day" rollover every 12 months on each IRA owned. This typ... [More]
Do financial statements baffle you? Do your eyes glaze over when your banker seems to be speaking another language? Chances are you aren’t up to speed on the latest bank jargon. Once you decode these common bank terms, you’ll be in a better position to manage and grow your assets.
You may have noticed that deposited funds aren’t reflected immediately on an online bank statement or paper receipt. That discrepancy occurs because your available balance refers to ... [More]
Do your eyes glaze over when you see the term IRA? Are you sick and tired of all those ads on tv talking about retirement? I hear ya! These days, retirement – and retirement planning – is the 800 pound gorilla in most people’s homes.
Well, have no fear...let’s take a look at what an IRA is and how they have evolved over time. Once we understand the history, we can move on to other related topics: investing, planning and other retirement ideas.
Basically, an IRA is an &ld... [More]