You Can Do What With Your IRA!?
Copyright 2006 Damon Clifford
Everyone knows you can invest in stocks, bonds, and mutual funds with your IRA.
About 97% of the trillions of dollars of IRA funds are invested in these types of assets.
Did you know you can also invest your IRA funds into non-traditional assets like real estate, energy, and tax liens?
What!?
Yes, you can invest your IRA funds into a house, a duplex, or a commercial building along with many other non-traditional assets.
A lot of people are choosing these types of investments to better diversify their retirement portfolio.
These are the people that don't want to see their portfolio rise and fall dramatically due to stock market fluctuations.
Any good broker will tell you to keep your portfolio diversified with many different stocks, bonds, and mutual funds.
More savvy investors say to keep your portfolio diversified with many different assets such as stocks, bonds, mutual funds, energy & real estate.
Some of their portfolio's actually increased during the most recent bear market!
This was due to their portfolio's being truly diversified.
There are two main reasons that more and more people are choosing to invest a portion of their IRA funds in non-traditional assets.
First, they don't know or trust the stock market since it has performed poorly the last couple of years, and nobody can predict what the market will do over the next 5, 10, or 20 years.
Second, they may or may not know what certain companies are doing on the other side of the country, but they do know about that "hot" piece of property just around the corner that would be a great rental house!
One of the added benefits to a self directed IRA is investing in assets that you know, and understand.
The more you know and understand, the better judgment you can make in your own investments.
Once the self directed IRA is set up, you have investment control of the funds.
You can use the funds to purchase the house and the income from rent will go back into your IRA. If you decide to sell the house, the capital gains from the sell will go back into your IRA as well. Depending on the type of IRA you have your gains can be either taxed deferred or tax free!
With the self directed IRA, you are in control. Many people are using the self directed IRA to take control of their retirement investments.
Stocks, bonds, and mutual funds still need to be in your portfolio to be diversified, but it's important to understand that you do have choices outside the stock market
Retirement Plans for Solo Entrepreneurs
Saving for retirement is even more important for solo-entrepreneurs because you don't have a company sponsored pension plan or matching 401K contributions to rely on.
There are many retirement plans available to self employed individuals and small businesses.
Which one is right for you?
Here is just a sample of the retirement plans available to solo-preneurs and small businesses:
Roth IRA ? although this is not just for solo-preneurs, this is the first place you should look to save if you are just starting to save for retirement (or resuming to save after starting a business).
Roth IRAs are low-cost, very flexible, and allow you to grow money tax-free as long as you follow the distribution rules.
Contributions can be made up to $4,000, and can be withdrawn at any time without tax or penalty (earnings withdrawn may be subject to penalty and tax if withdrawn before age 59 ? and certain other conditions are not met).
Ira > Retirement Plans for Solo Entrepreneurs
Nexus Financial Management Explains How High Income Taxpayers Can Take Advantage of a Roth IRA
Jacksonville, FL (ContentDesk via ContentDesk Direct) July 17, 2006 -- The Tax Increase Prevention and Reconciliation Act (TIPRA) recently signed by President Bush eliminates the $100,000 Modified Adjusted Gross Income (MAGI) ceiling and the married taxpayer joint filing requirement for converting a traditional IRA into a Roth IRA, but not until the year 2010. All other rules continue to apply, which means that the amount converted to a Roth IRA will still be taxed as income at the individuals highest tax rate. Under current law, single taxpayers with MAGI of more than $110,000 cannot contribute to a Roth IRA; or married taxpayers with joint income in excess of $160,000. However, by eliminating the income ceiling for conversions, the income limits on contributing to a Roth IRA have essentially been removed as well. In 2006 and 2007, individuals can contribute up to $4,000 per year to a nondeductible traditional IRA ($5,000 if age 50 or...
Nexus Financial Management Explains How High Income Taxpayers Can Take Advantage of a Roth IRA
Ira > Nexus Financial Management Explains How High Income Taxpayers Can Take Advantage of a Roth IRA
Could a Roth IRA be Better Than a 401(k)?
Very few people whom I know are familiar with the benefits of the Roth IRA. It was named for the late Senator William Roth of Rhode Island, who proposed it. It is similar to a traditional IRA except contributions are never tax-deductible. Contributions to traditional IRAs are sometimes deductible or partially deductible, depending on your income and whether or not you have a retirement plan like a 401(k) at work. With Roth IRAs, individuals are limited to incomes of $95,000 ($150,000 for couples) to be eligible for full contribution amounts.
However, unlike the traditional IRA, you can withdraw your contributions from a Roth IRA at any time, at any age without penalty. Earnings are not taxed if you wait until at least age 59 1/2 to begin withdrawing them and have held your Roth IRA for at least five years. With a Roth IRA, the contributions are taxed without any deferment, but they grow tax-free and the gains are never taxed (see above). With a 401(k), contributions are tax-deferred,...
Could a Roth IRA be Better Than a 401(k)?
Ira > Could a Roth IRA be Better Than a 401(k)?
For Entrepreneurs A SIMPLE Plan May Be Best
Q: I own a small decorating business and I'll be the first to admit that I don't know anything about taxes or retirement plans. I'd like to set up a 401(k) or an IRA or some other kind of retirement plan for me and my three employees. What are the various retirement plan options available for a small business owner and in your opinion, which would work best for me?
-- Wanda S.
A: Wanda, I appreciate your confidence in my humble opinion, but asking me for financial advice is like asking Donald Trump for a recommendation on hair care products. I can tell you what works best for me and my business, but you'll need to do your homework and seek professional advice to figure out what would work best for you. As a side note, I hear that Donald Trump is coming out with his own line of hair care product soon to be called "Big Head." The formula is 1% mousse, 1% liquid nails, and 98% hot air.
It should be a big seller among the high brow, comb-over crowd.
Ira > For Entrepreneurs A SIMPLE Plan May Be Best
Retirement Plans for Solo Entrepreneurs
Saving for retirement is even more important for solo-entrepreneurs because you don't have a company sponsored pension plan or matching 401K contributions to rely on.
There are many retirement plans available to self employed individuals and small businesses.
Which one is right for you?
Here is just a sample of the retirement plans available to solo-preneurs and small businesses:
Roth IRA ? although this is not just for solo-preneurs, this is the first place you should look to save if you are just starting to save for retirement (or resuming to save after starting a business).
Roth IRAs are low-cost, very flexible, and allow you to grow money tax-free as long as you follow the distribution rules.
Contributions can be made up to $4,000, and can be withdrawn at any time without tax or penalty (earnings withdrawn may be subject to penalty and tax if withdrawn before age 59 ? and certain other conditions are not met).
Ira > Retirement Plans for Solo Entrepreneurs
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CarRentalZone.com Races Straight to No.1 on Google at Odds of 17 Million to 1
Dublin, Ireland (ContentDesk) August 14, 2006 -- CarRentalZone.com, a brand new car rental website, has defied the odds and raced straight to the coveted No.1 spot on Google, the world's leading search engine. CarRentalZone spokesman Gerard McLoughlin said: "High rankings on Google are notoriously difficult to achieve. A whole industry has developed specialising in search engine optimization and charging astronomical fees to businesses clamouring for a lucrative position in the Top Ten. "We were...
CarRentalZone.com Races Straight to No.1 on Google at Odds of 17 Million to 1
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What are Payday loans and how they can be very expensive
What are Payday loans and how they can be very expensiveBy All Rights Reserved 2005 The media has been telling people about how easy it is to get a payday loan where you can get an unsecured until your next payday. What most people do not realize until it is too late is that a payday loan is actually a very expensive form of credit. This article would therefore explain how payday loans work and why they can be very expensive for the borrower. Payday Loans are unsecured loans which charge high...
payday loans Ira You Can Do What With Your IRA!? What are Payday loans and how they can be very expensive
Ira > What are Payday loans and how they can be very expensive
What?s In Your Hiking Pack?
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What's In Your Hiking Pack? As an outdoor enthusiast, you...
What?s In Your Hiking Pack?
Ira > What?s In Your Hiking Pack?