Financial Matters

Tips and news from the financial experts at Attentive Investment Managers.
Apr
26

IRA Options

IRA Options
Almost everyone can have some sort of IRA. There are Traditional & Rollover IRA's and Roth IRA's. Annual contribution limits have increased over the years, making IRA's much more attractive for saving for retirement. Individuals over age 50 can make additional "catch-up" contributions each year. If you are not participating in an employer sponsored 401(k) plan you may contribute to a deductible Traditional IRA at a maximum of $5,500 per year or $6,500 for those over 50 years of age. Additionally, if you do participate in an employer sponsored plan and income allows you may make a non-deductible contribution to a Traditional IRA and then further transfer the contributions to a Roth IRA, making them non-taxable upon withdrawal through the use of a Roth Conversion. The Roth IRA has become a popular way to expand retirement investing for many investors because, although contributions are not tax deductible, Roth distributions can be tax free if certain conditions ar...
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Mar
04

Difference between a Traditional IRA & a Roth IRA

Difference between a Traditional IRA & a Roth IRA

Do you know the difference between a Traditional IRA & a Roth IRA??

IRA accounts, otherwise known as, Individual Retirement Accounts are a way for to save for retirement. A Traditional IRA can be funded with pre-tax contributions and can be a tax deductible (check with your tax advisor) and grow tax-deferred until age 70 ½ (when the IRS requires you to begin distributing the assets).When you retire and draw on the funds, the money would be taxable as ordinary income.Theoretically, you would be in a lower tax bracket during the withdrawal phase.It is important to note, that any distributions taken prior to 59 ½ are subject to both taxes and an early withdrawal penalty from the Fed of 10% and the State of 2.5%. 

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Due to renewed State orders for shelter-in-place we will be modifying our office operations. We will be suspending services at our physical office for the public. However, we are available to you via web meeting (zoom), email and telephone (Phone lines have been forwarded to our personal cell phones) during regular business hours. We will be able to fully service all your investment needs with no interruption.

You may drop contribution checks at our office through the mail slot or they may be mailed directly to TD Ameritrade (address listed below). Please be sure to notate your account number on the check.

TD Ameritrade
PO BOX 650567
Dallas, TX 75265-0567

Rest assured that we will continue to monitor your investments and market conditions on an ongoing basis with no interruption. Should you have any questions or concerns please feel free to contact us.

We will navigate this crisis as best we can, coming together and making shared sacrifices. We hope that we can help to slow down the effect of this virus together and solve this swiftly. We also wish everyone well and would like to extend our gratitude for your patience during these trying times. Continue to watch for updates from us.