Probably one of the must unknown facets of retirement planning is that you can distribute before age 59 ½ for any reason without paying the extra 10% early distribution tax. How? Substantially Equal Periodic Payments Set a distribution schedule calculated using IRS tables The schedule must have … [Read more...] about Penalty Free Early Distributions
retirement
The Roth Assumption
We all have that friend who is financially irresponsible. You know, they have a new cell phone every time one comes out. They lease a brand new car every 2 years. Their credit cards are maxed out. And they don't really have a game plan on how to pay for the stuff they have. The best I can tell is … [Read more...] about The Roth Assumption
Consumer confidence falling & the $600 checks to save the day
Did you get your $600 check yet? What will you do with it? Surveys are saying that most Americans will use their "Economic Stimulus" check to deal with gas, food, and catching up on bills. This doesn't stimulate the economy. Consumer spending stimulates the economy. In other words, the Department … [Read more...] about Consumer confidence falling & the $600 checks to save the day
Prohibited Transaction Basics
The most notable difference between endeavors down the path of using a self directed IRA versus traditional investing is the unique rules that apply to the former. The extremely simple rule is that an IRA (specifically) cannot buy life insurance or collectibles (such as rugs, works of art, alcohol, … [Read more...] about Prohibited Transaction Basics