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IRA Strategies

Do you have enough money in your IRA to retire without worrying about how you will pay the bills once you get your gold watch?

According to the Employee Benefits Research Institute, most Americans (65%) are confident they have enough money for retirement, but when you take a close look at the numbers most people have a fraction of the amount of money they’ll need once they leave their job. 52% of U.S. workers have less than $125,000 saved.1

Financial experts Joe Anderson and Alan Clopine want to make sure you are taking the steps now that will lead to a comfortable retirement. On Your Money, Your Wealth they take a look at ways to revive your IRA to make sure you are able to optimize the money you save.

Roth IRA Basics — White PaperImportant Points:

(00:57) – How Much American Workers Have Saved for Retirement – The Numbers Might Surprise You!

(3:22) – Who Can Contribute to an IRA? Earned Income and Age Limits

(4:00) – Can I Contribute to an IRA AND a Roth AND a 401(k)?

(4:50) – How Much Can You Contribute?

(5:50) – Traditional versus Roth

(6:30) – What Investments are Available for an IRA?

(7:53) – Is there a 10-year waiting period before the income and gains in your Roth IRA are tax-free? True or False?

(9:40) – The Power of Compound Earnings – How to Boost Your Bucks

(11:40) – Compound Interest with Future Taxes in Mind

(13:30) – Example: Married Couple – How to Live in a High Tax Bracket but Pay Taxes in a Low Tax Bracket in Retirement

(15:35) – Do seniors who continue working after age 70 1/2 have to take required minimum distributions (RMDs) for their employer-sponsored retirement accounts?

(15:51) – Free Roth IRA Guide from YMYW! Click here to Download >>

(17:25) – IRA Mistake: Not taking advantage of the spousal IRA for a non-working spouse.

(18:10) – IRA Mistake: Not taking a Required Minimum Distribution (RMD) at age 70 1/2, or not taking enough.

(19:12) – IRA Mistake: Paying unnecessary penalties on early distributions.

(20:17) – IRA Mistake: Rolling a low-cost basis company stock from your 401(k) into an IRA.

(21:19) – IRA Mistake: Not educating your children about Stretch IRA rules.

(22:40) – VIEWER QUESTION: I’m single and I make $150,000 a year. Is there a way to get around the income limits for contributing to my retirement accounts?

(24:00) – VIEWER QUESTION: Can I fund Roth IRA’s for my grandchildren that are all now working part-time while they go to college?

(24:51) – Free Roth IRA Guide from YMYW! Click here to Download >>

 

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1 – https://www.ebri.org/pdf/surveys/rcs/2018/2018RCS_Report_V5MGAchecked.pdf

About the Hosts

Joe Anderson

President

CFP®, AIF®

As President of Pure Financial Advisors, Joe Anderson has led the company to achieve over $2 billion in assets under management and has grown their client base to over 2,160 in just ten years of the...

Alan Clopine

CEO & CFO

CPA, AIF®

Alan Clopine is the CEO & CFO of Pure Financial Advisors. He currently shares the CEO role with Michael Fenison, the original founder of the company. Alan is primarily responsible for the day-to-day activities of...