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Recent IRA Articles

Can You Over-Diversify a Portfolio?

Can You Over-Diversify a Portfolio?

When you diversify your portfolio, you help lower its overall risk exposure by allocating funds among various asset classes. Diversification avoids relying too much on the performance of a single asset class, helping you weather economic uncertainty and grow your portfolio. But is there too much of a good thing when it comes to...

What Are the Different Asset Classes?

What Are the Different Asset Classes?

Understanding the different asset classes is essential to achieving portfolio diversification—a must-have for long-term portfolio performance and something I’ve witnessed the need for firsthand. As the son of immigrants, I grew up watching my parents pursue the American Dream. They started a Chinese-American restaurant, and I worked...

9 Things You May Want to Do One Year Before Retirement

9 Things You May Want to Do One Year Before Retirement

A realization struck me on my birthday last year: I was one year away from the traditional retirement age of 65. I didn’t feel like I was almost old enough to retire, and with two young daughters I don’t think I’ll be retiring anytime soon—but it got me thinking about being prepared to retire. Here are nine things I wish someone would...

Can I Combine Multiple 401(k) Accounts?

Can I Combine Multiple 401(k) Accounts?

In their working life, the typical baby boomer has held 12 jobs from age 18 to 54, according to a U.S. Bureau of Labor Statistics study. Those 12 jobs translate to potentially a dozen 401(k) retirement accounts. I can speak from personal experience—I still maintain multiple 401(k) accounts as part of my portfolio. You may be wondering:...

Can an IRA Account Be Gifted?

Can an IRA Account Be Gifted?

One of the most important reasons we work to grow our wealth is to leave something behind for our loved ones. For my parents, this was not an option. They were entrepreneurs and immigrants who were not aware of all their savings and retirement options. Thankfully, I have been fortunate enough to be able to build a life on their...

7 Perspectives on the Best Ways to Grow Money for Retirement

7 Perspectives on the Best Ways to Grow Money for Retirement

There is no one-size-fits-all method for growing a retirement portfolio. Everyone, myself included, experiences their own unique financial situation and path to retirement. Others may choose to never retire. It’s for these reasons that retirement portfolios often incorporate a variety of diversification and tax strategies rather than a...

What Is the Purpose of Tax-Deferred Retirement Accounts?

What Is the Purpose of Tax-Deferred Retirement Accounts?

I’ve written previously about my first experience with retirement planning. Since then, I’ve enjoyed taking steps to help grow and diversify my retirement portfolio while watching those funds increase over time. One tool in particular that has helped me a great deal is the tax-deferred retirement account; I’ve established several such...

What Are the First Three Steps to Retirement Planning?

What Are the First Three Steps to Retirement Planning?

I remember the first time I thought about retirement planning. I was just starting my first job. I was attending new employee orientation, and the human resources staff members were explaining the company’s pension plan and 401(k) program. I was young, and retirement seemed so far away. And the words and programs seemed complicated and...

What Is a Bullion Depository?

What Is a Bullion Depository?

Located in Kentucky, south of Louisville and north of Elizabethtown, is the facility known as Fort Knox. This veritable fortress holds about half of the American federal government’s stored gold, weighing more than 18,000 metric tons. It is also one of the world’s most famous bullion depositories. But when you need to store your own...

Can You Transfer an Inherited IRA to a New Custodian?

Can You Transfer an Inherited IRA to a New Custodian?

When you inherit an IRA, you might be puzzled about what to do with it. One of your options is to transfer the inherited IRA to a new custodian. Remember, a custodian is a special bank, credit union, or nondepository bank that executes asset directions from IRA owners and performs “the many custodial and administrative duties that are...