401ks & IRAs

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Can I Use a 403(b) Retirement for a Mortgage Down Payment?

raping together enough money for a home down payment can be challenging, especially if you're moving to a larger home or haven't built up much equity in your prior home. However, you might be able to tap your 403(b) plan for some of the money -- just don't expect any special tax ...

How to Transfer IRA Money to Another Institution Without Paying Taxes

ning an individual retirement account is not a static business. Monitoring the investments and keeping abreast of fees and other administrative factors help you ensure you maximize this tax-advantaged opportunity. If you learn of a more appropriate selection of funds for your ...

IRA vs. Savings Account

dividual retirement accounts are an umbrella account in which you can invest your money in a variety of ways, including putting your IRA money into a savings account. Though IRAs are designed to offer advantages over regular savings accounts if you're saving for retirement, you ...

What Happens to a United States IRA if You Retire in a Different Country?

u may have many reasons for wanting to retire in another country -- the lifestyle, the culture or maybe you'll be returning to the land of your birth -- but saving on taxes shouldn't be one of them. Uncle Sam will not let you out of a tax obligation just because you no longer ...

Can a Trust Be a Designated Beneficiary in a 401(k)?

u may be able to designate a trust as the beneficiary of your 401(k) retirement account. Leaving your account to a trust provides control over your assets when you die, ensuring the money will go where you want it to go. But there are rules and considerations to heed before ...

Roth IRA vs. SEP if Self-Employed

ere is no perfect retirement account, even if you're self-employed. While small business owners enjoy a little more flexibility when they determine their retirement options, calculating whether to invest in an Roth individual retirement arrangement or a simplified employee ...

How to Claim Hardship for Cashing Out My 401(k)

hardship withdrawal from a 401(k) plan may allow you to get money out of your account without leaving your job and before you turn 59 1/2 years old. However, claiming a financial hardship to get money out of your 401(k) plan and having your hardship qualify you for an exemption ...

Are IRA Accounts ERISA Qualified?

e Employee Retirement Income Security Act, or ERISA, is a federal law enacted in 1974 to protect retirement plan assets. ERISA sets minimum requirements that private sector employers must comply with. ERISA governs two types of pension plans: defined benefit and defined ...

I Closed an IRA Account: When Do I Pay Taxes on That Money?

aditional individual retirement accounts are pre-tax vehicles, meaning the money you put into them has never been taxed. If you close your IRA, you're generally liable for income tax on the entire balance, and may owe additional penalties. Roth IRAs generally allow for tax-free ...

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