Sunwook Jin, CFP®, CRPC®, CMFC®, EA When I say Individual Retirement Account, I imagine your first thought is retirement savings, right? I mean, after all the word “retirement” is the middle word. You wouldn’t be wrong, most of the time IRAs or Roth IRAs are used with the intent of saving money for retirement. Especially … Continue reading Could Custodial IRAs Help Young Adults Buy Homes?
Sunwook Jin, CFP®, CRPC®, CMFC®, EA Although there are no income limits for a Traditional IRA, that is not the case for a Roth IRA. How much you can contribute to a Roth IRA depends on how much you earn. The maximum you can contribute to a Roth IRA is limited to $6,000 per year … Continue reading How much can I contribute to a Roth IRA in 2020?
Bill Gordon, AIF® The COVID-19 pandemic has shaken up nearly every aspect of American life. To say it’s been a difficult time would be an understatement. However, difficult times may open doors to new possibilities. Businesses are changing their ways of operating, and individuals are exploring new avenues for investment. It may be time for … Continue reading How Has COVID-19 Affected Roth IRA Conversions?
By Sunwook Jin, CFP®, CRPC®, CMFC® If you’ve heard of an Individual Retirement Account (IRA), you probably have heard of a Roth IRA. When someone is ready to begin contributing to a retirement account, we’ll frequently get asked about the difference between the two accounts. But what if you already have a traditional IRA? Do … Continue reading Should you convert to a Roth IRA?
By Sunwook Jin, CFP®, CRPC®, CMFC® A common phrase heard in the financial industry that clients ask is “What rate is your IRA?” When we hear that, we know there is some explaining to be done. A Roth IRA isn’t an investment in itself. It is a tax advantaged account that can hold several different … Continue reading What can you invest in your Roth IRA?
Helen Hartman, CRPC®, PPC®, CPFA The many concerns keeping people up at night include what will taxes be in the future? What will my income need to be to give me enough cash flow for my lifestyle? The tax- free advantages of a Roth IRA may be an option. When opening a IRA amount for … Continue reading Tax Free Wealth? Many Benefits of a Roth IRA
Written by Sunwook Jin, CFP®, CRPC®, CMFC® Every now and then, you want to give them a nice gift for your kid's birthday or during holidays. But then, you think to yourself, they have everything they need, and you can’t think of a nicer gift. So, you buy them either a gift card or just … Continue reading If you have a teenage kid who works, DO NOT give them cash for their birthday or during holidays. Do this instead.
Once Tax Day has come and gone, so has your opportunity to make your 2018 Individual Retirement Account (IRA) contribution. Enroll now > EVERY YEAR, YOU HAVE THE OPPORTUNITY TO INVEST IN YOUR IRA. DON'T MISS OUT THIS YEAR. DON’T MISS OUT THIS YEAR. Get started > Invest for your future: An IRA remains an effective way to save for … Continue reading APRIL 15, 2019 IS YOUR IRA DEADLINE.
By Sunwook Jin, CFP®, CRPC®, CMFC® If you’ve been told or learned that you can’t contribute to a Roth IRA because you make too much money, it may be time for you to consider converting some or all of your Traditional IRA to a Roth IRA. However, before you do… understand the tax implications. The … Continue reading Backdoor Roth IRA
By Sunwook Jin, CFP®, CRPC®, CMFC® Although there are no income limits for a Traditional IRA, depends on how much you earn can have bearings on how much you can contribute to a Roth IRA. The maximum you can contribute into a Roth IRA is limited to $5,500 per year per person ($6,500 if you're … Continue reading How much can I contribute into a Roth IRA? What are the income limits?