IRA & 401K Contribution Limits

Self-Administered 401k Plans — It’s More than Having Control

We all get it…there are a lot of benefits to being the Trustee of your own 401k plan.  The ability to control your own 401k plan and invest the funds of that plan into assets that you believe are in the best interests of the plan. That freedom to invest in a world that can certainly include stocks, bonds and mutual funds,…read more →

Using Your 2013 IRS Tax Refund to Make a 2014 IRA Contribution?

Most of you who qualify for an IRS tax refund are not necessarily looking into whether you can use that refund for an IRA contribution.  But, recently I read with great interest a blog post from nationally-recognized IRA expert Ed Slott on this very topic.  It is a great piece on this subject and one, quite honestly, that many probably…read more →

Encumbered IRA Asset Rollover into a 401(k) — Permissible?!

Recently, I did a blog on a social media site for which I was lambasted by one really, really friendly, self-proclaimed, all-knowing expert on ANYTHING related to IRAs (yes, if you can sense I use sarcasm, you would be correct!).  I was being criticized for how I answered a question by a person in the room when I was only…read more →

Rollover ANY Funds into Your Self-Adminstered 401K?!

Well, almost. While I have spoken about this before, it is interesting how I continue to receive questions related to what types (e.g., Traditional IRA, SEP-IRA, 457) of retirement funds CAN be rolled over into a self-administered 401K plan. I don’t mind….I don’t expect people to necessarily know this information and, as a result, some people believe that they can…read more →

Self-Directed 401K Plans — What the Heck is CODA?!

A prospective client once called when he had researched “my 401K” and got majorly confused. He was reading about how he could operate his self-directed 401K plan, how he could the 401K trustee of his own plan and how, hopefully, he could benefit his retirement plan and, ultimately, his retirement savings. But, while researching the ins and outs of 401K…read more →

What are the Benefits of a Roth 401K?!

The benefits of a Roth 401K, especially when compared to a Roth IRA, are staggering. This video will help explain what these benefits are and, more importantly, why you may want to consider a 401K of any kind before an IRA. But, you must qualify for the 401K! As part of this video, it should be noted that it was…read more →

Both Roth and Pre-Tax Contributions to a 401K Plan?

A question that often comes up is whether a 401K participant can make both Roth and pre-tax contributions to a 401K plan? While it is a simple answer, it is totally understandable why people do not know the answer to the question and why it may confuse them. Why? Well, it is because that 401K plans do NOT have to…read more →

Self-Directed IRA Contribution Limits — Who Stinking Cares?!

Well, actually, all of us should. So, why do I have such a strong commentary on the subject matter of IRA contribution limits…whether it be an IRA, Roth IRA or SIMPLE IRA? It is because in comparison to a 401K plan, the IRA just doesn’t hold up with any aggressive planning you may have to increase the value of your…read more →

What is a Self-Directed Roth IRA — Defined?

Well, in defining what a Roth IRA is, we first have to define what an IRA is. An IRA is a tax advtanaged retirement savings plan as defined by the IRS. So, with a Roth, it is still an IRA, it just doesn’t have the tax advantages associated with your contributions. Whereas a typical IRA contributions are made on a…read more →

Is a Self-Directed IRA a Good Idea? — Maybe Not!

Okay, you got me on this one.  Is an IRA a bad idea or consideration?  Of course not. Now, ask me if a self-directed IRA is a bad idea or consideration and the water just got murkier. Why? It is not that a self-directed IRA is bad….I would always choose a self-directed IRA over your standard IRA.  Personally, I do…read more →