Recent IRA Articles

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 alongside them to grow the business. During this…

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…

A tax refund is a reimbursement of taxes that you’ve overpaid to the federal or another government. The U.S. Treasury Department estimates that nearly 75% of federal taxpayers wind up with tax refunds because they overpay their taxes. As of April 15, 2022, the average federal tax refund for the 2022 tax-filing season was $3,103,…

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…

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 single approach. For those who wish to…

For many of us, retirement will mean living on a fixed income. It stands to reason, then, that we may want to look for ways to keep as much of that income as possible. The good news is that years ahead of retirement, a prospective retiree may be able to take certain actions to help…

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 accounts over the years.…

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…

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…

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…

Each time the calendar flips from one year to the next, you’re one step closer to retirement. If you’re several years or even decades away from retiring, you might not have given much thought to what your financial life will look like once you’re out of the workforce. But whether you’re one year, five years,…

Millions of Americans get yearly health checkups to ensure their bodies work the way they're supposed to. So, why not do an annual financial health check to take the pulse of your money matters? Follow along to learn what a financial health check is and what you should consider when doing one. What You Need…