Terms of Use /* Scoped container to ensure full width and no font conflicts */ .pension-article-container { width: 100%; margin: 0; padding: 20px; box-sizing: border-box; /* Inherits your website's default font and color */ } .pension-article-container h1 { border-bottom: 2px solid #000; padding-bottom: 10px; margin-top: 0; /* Underline removed */ text-decoration: none; } .pension-article-container h2 { margin-top: 30px; border-left: none; padding-left: 0; /* Underline removed */ text-decoration  More...

Terms of Use The IRS uses MAGI to determine if any or all of your IRA contribution is deductible and if you are eligible for premium tax credits. The higher your MAGI, the fewer deductions you can take on IRA contributions. There is a maximum MAGI when if met, IRA deductions aren't allowed. While you can still contribute to an IRA, but you won't be able to deduct any of the contributions on your tax return. Adjusted Gross Income (AGI) AGI represents your taxable income. AGI is defined as  More...

Terms of Use Definition: A 401(k) plan is offered by employers to allow you to set aside money for retirement on a tax-advantaged basis. You can contribute pre-tax dollars and then invest those dollars in the investment options provided by your employer for the purpose of saving for retirement. The earnings on your investments are tax-deferred until retirement. Your employer may also make matching contributions to your account. 401(k) plan limits: 401(k) Plan Limits 2026 Elective Deferrals $24  More...

Terms of Use People often associate trust funds only with the wealthy. But a trust actually can be an effective financial tool for many people in many circumstances. A trust is a separate legal entity that holds property or assets of some kind for the benefit of a specific person, group of people or organization known as the beneficiary . The person creating a trust is called the grantor , donor or settlor . When a trust is established, an individual or corporate entity is designated to oversee   More...

Terms of Use No . You cannot borrow from your IRA. Using your IRA for collateral will cause the portion of the IRA used as collateral to become taxable and may cause penalty taxes. IRAs receive special treatment from the IRS because you do not have use of those funds. If you could pledge them as collateral, you would effectively have use of the funds. You can withdraw funds from an IRA under certain circumstances. If you withdraw money from your IRA, the value of the withdrawal is included in   More...

Terms of Use Yes, contributions to a Roth IRA may be withdrawn tax- and penalty-free at any time, for any reason. After the IRA has been established for five years, earnings on contributions may be withdrawn tax- and penalty-free, provided the owner meets any of the following specifications: has reached age 59½ has become permanently and totally disabled is deceased is withdrawing the funds for first-time home purchase First-time home purchase withdrawals are limited to a maximum wi  More...

Terms of Use Roth IRA contributions are made with after-tax dollars. You can contribute to a Roth IRA if you have taxable compensation and your modified adjusted gross income (MAGI) is within certain limitations The maximum allowable contribution to a Roth IRA depends on whether contributions are made only to Roth IRAs or to both Traditional IRAs and Roth IRAs. Please see the IRS web site for more information.

Terms of Use Employer retirement plans defined as a qualified plan under 401(a) or 403(a) as well as 403(b) plans, governmental 457(b) plans and Federal Employees Thrift Savings Plans can all be rolled over to a Traditional IRA. Funds retain their tax-deferred status and you enjoy the flexibility that a Traditional IRA offers -- such as the ability to access the funds when needed.

Terms of Use What Is a Traditional IRA? A Traditional IRA (Individual Retirement Account) is a tax-advantaged retirement savings account that lets you save money for retirement with tax-deferred growth . That means your investment earnings aren’t taxed as long as they remain in the account — you pay taxes when you withdraw funds in retirement. You can hold cash, stocks, bonds, mutual funds, ETFs, CDs, and other investments inside a Traditional IRA. The tax treatment of your contrib  More...

Terms of Use IRAs are a great way for you to save for the future. Your IRA can consist of a range of investments from savings accounts, stocks, ETFs, bonds, and certificates of deposit or share certificates. You can contribute up to a certain limit each year into your IRA and if you're over 50, you are allowed an additional catch up contribution. The tax advantages of a Traditional or Roth IRA depend on your annual income and whether you are covered by your company's retirement plan.  More...