What is a Traditional IRA? | Financial Education on Investing, Retirement and Money #shorts

A Traditional IRA (Individual retirement account) is a type of tax-deferred retirement savings plan designed for individuals. With a Traditional IRA, individuals can contribute a portion of their income to the account on a pre-tax basis, reducing their taxable income in the current year. The funds in the account grow tax-deferred until they are withdrawn, usually in retirement, at which point they are taxed as ordinary income. There is also a tax advantage for contributions made to a Traditional IRA, as they may be tax-deductible, subject to certain income and contribution limits. Additionally, Traditional IRAs may offer a wider range of investment options compared to employer-sponsored retirement plans such as 401k. However, there are also contribution limits and required minimum distributions for Traditional IRAs that investors should be aware of. #TraditionalIRA #retirement #money #investing #taxdeferred #taxdeductible #investmentoptions #taxadvantaged #requiredminimumdistributions #longterminvesting #financialplanning #savingforretirement...(read more)

LEARN MORE ABOUT: IRA Accounts
INVESTING IN A GOLD IRA: Gold IRA Account
INVESTING IN A SILVER IRA: Silver IRA Account
REVEALED: Best Gold Backed IRA

A traditional IRA is a type of retirement savings account that provides tax advantages to help you save for retirement. With a traditional IRA, you can contribute up to $6,000 a year (or $7,000 if you’re over 50) and get a tax deduction for your contributions. The money in your traditional IRA grows tax-free until you withdraw it in retirement, when it is taxed as ordinary income. Traditional IRAs are a great way to save for retirement, as they offer tax-deferred growth and the potential for a tax deduction. The money you save in a traditional IRA can be used to purchase investments such as stocks, bonds, mutual funds, and ETFs. When you retire, you can begin taking withdrawals from your traditional IRA at age 59½. These withdrawals are taxed as ordinary income, and if you take them before you turn 59½, you may be subject to a 10% early withdrawal penalty. You must begin taking required minimum distributions (RMDs) from your traditional IRA by April 1 of the year after you turn 70½. It’s important to remember that the money you contribute to a traditional IRA is not always tax-deductible. If you or your spouse is covered by an employer-sponsored retirement plan, such as a 401(k), the amount of your traditional IRA contribution that is deductible may be reduced or eliminated. Traditional IRAs are a great way to save for retirement, but be sure to consult a financial professional to determine if a traditional IRA is right for you. https://inflationprotection.org/what-is-a-traditional-ira-financial-education-on-investing-retirement-and-money-shorts/?feed_id=69728&_unique_id=63e7ccab73f80 #Inflation #Retirement #GoldIRA #Wealth #Investing #FinancialPlanning #investing #InvestmentOptions #longterminvesting #money #requiredminimumdistributions #Retirement #savingforretirement #taxadvantaged #TaxDeductible #taxdeferred #traditionalIRA #TraditionalIRA #FinancialPlanning #investing #InvestmentOptions #longterminvesting #money #requiredminimumdistributions #Retirement #savingforretirement #taxadvantaged #TaxDeductible #taxdeferred #traditionalIRA

"Is Birch Gold Group a Reliable Choice for Your 2023 Gold IRA Investments?" - A Quick Review #shorts

In this Birch Gold Group review video, I go over what makes this Gold IRA company unique, the pros and cons, their fees, minimums, and much more. Get their free guide here: 👉 FREE Resources: ➜ Gold IRA Company Reviews: Birch Gold Group boasts high ratings from consumer advocate groups. With an A-plus rating from the Better Business Bureau, a triple-A rating from the Business Consumer Alliance, and high marks from Trust Link, Trustpilot, and Google Business, Birch Gold is a top choice to trust your hard-earned retirement savings. Birch Gold Group’s low initial investment minimum is another edge it has over its competitors whose minimums can range from $25,000 to $50,000. A beginning $10,000 minimum investment is all that is required to start a GOLD IRA with Birch which is advantageous for first-time investors. Spanning nearly two decades, Birch Gold Group’s mission and philosophy focus on a commitment to understanding your needs and finding the right fit for you. Their

New York Times Company Continues to Add Online Subscribers at a Steady Clip

Business News by Timothy Sumer - The company’s first quarter results showed total paid subscriptions reaching 4.5 million. Online ad revenue rose 19 percent, to $55 million, thanks, in part, to “The Daily” podcast. from NYT > Business https://nyti.ms/304QC2w via Timothy Sumer

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom Should I Rollover My 401k to anIRA 🤔 || 401k to IRA Rollover Pro's & Con's In this video, I want to talk about rolling over your 401k to an IRA Rollover and if that makes sense for your retirement planning . I want to look at the pro's to rolling over a 401k and also the con's to rolling over a 401k. When you should rollover your 401k to an IRA and when you should NOT rollover your 401k to an IRA. Let's talk about when you should NOT rollover your 401k to an IRA: 1. You are still working and are under the age of 59.5 2. You are 55 and considering retirement (Rule 55) 3. Increased creditor protection in a 401k 4. 401k's offer loans--IRA's do not offer loans Why you SHOULD rollover your 401k to an IRA 1. More investment choices in IRA over 401k 2. Lower investment fees 3. Convert IRA to Roth IRA (Roth IRA Conversion) 4. Consolidation from multiple 401k'

Timothy Sumer

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