What is an IRA or Individual Retirement Account?

An IRA or Individual retirement account is one of the most common ways to save for retirement. In this video we discuss the differences between the two main ones, the ROTH IRA and the Traditional IRA, and the tax implications of each. Find out which is right for you....(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

Individual Retirement Accounts (IRAs) provide a great opportunity for individuals to save for their retirement. IRAs are a type of tax-advantaged retirement account that individuals can open and contribute to on their own. These accounts are designed to help people save for retirement and provide a way to invest in a diversified portfolio of assets. IRAs come in two different types: Traditional and Roth. Traditional IRAs are tax-deferred, meaning that the money is generally tax-free when it is invested but is taxed when it is withdrawn. Roth IRAs, on the other hand, are taxed when the money is put into the account, but the growth is tax-free, and withdrawals are tax-free as well. Each type of IRA has different eligibility requirements and contribution limits. For instance, anyone with earned income can contribute to a Traditional IRA as long as they are under 72 years old, while Roth IRAs have an income limitation. The contribution limit for both types of accounts is $6,000 per year for people under 50 years old, while individuals over 50 can contribute an additional $1,000 per year. Investment options for IRAs can include stocks, bonds, mutual funds, and other types of securities. It is up to the individual to choose how to invest his/her IRA. The investments can be managed by the account holder or by a financial professional. One of the advantages of an IRA compared to other types of retirement accounts is the flexibility to change investment options. IRAs provide investors with the option to move their investments between different types of securities, mutual funds, or even different brokerage firms without triggering taxes or penalties. Making contributions to an IRA can also decrease your taxable income, making it an efficient way to reduce your tax liability. Keep in mind that not all contributions are deductible. Additionally, withdrawals before the age of 59.5 can result in a 10% early-withdrawal penalty unless the withdrawal is used for a qualified expense. In conclusion, IRAs are an excellent option for those looking to save for retirement. These accounts offer tax advantages, flexible investment options, and the opportunity to grow your money over time. By understanding the types of IRAs, contribution limits, and investment options available, individuals can maximize their savings and prepare for a comfortable retirement. https://inflationprotection.org/what-is-an-ira-or-individual-retirement-account/?feed_id=75902&_unique_id=64042f7b169a0 #Inflation #Retirement #GoldIRA #Wealth #Investing #individualretirementaccount #investment #ira #money #Retirement #RothIRA #saving #TaxSavings #TraditionalIRA #individualretirementaccount #investment #ira #money #Retirement #RothIRA #saving #TaxSavings

"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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