Retirement Saving & Investing- 401Ks, IRAs, and Beyond

Feeling a little overwhelmed about your retirement plan? New financial terms, selecting investments and the ability to borrow money from some plans are only a few things that you need to know about your retirement plan. Before signing your name on the dotted line, review this pertinent information.

Do you envision retiring to a tropical island? Traveling the world? Or simply staying in your home debt free? What about retiring early, while you are still energetic and healthy? Going back to school just to learn? No matter what you decide to do with your future, this guide’s for you.

You are putting money aside every month. Are you saving or investing? The difference may be subtle, but once you define whether you are saving or investing, you will be able to better choose where and how your money should be saved or invested.

Stock quotes, investment ads and other financial information is constantly bombarding you with ideas and data. What sources should you trust as you build your portfolio? Find suggestions for investment library and learn how to evaluate these sources.

Virtually any investment professional will advise you to diversify your investment portfolio. However, determining the best mix of stock funds and bond funds isn’t easy. Fortunately, with some rules of thumb and a basic understanding of risk, you can find out what stock and bond mix works for you.

While many people think that estate planning is needed only for those who are very wealthy, nearly all people can benefit from having their final wishes recorded legally. An estate planning checklist can help provide families with health information and help with the settlement of an estate.

Most investors find sector-specific investments risky. However, with the surge in oil prices, it may be wise to explore energy investments to balance your self-directed IRA. Recent government policies to boost renewable energy provide lucrative investment options in the sector as well.

Are you close to retirement? If you are staring retirement in the face and you don’t think you have saved enough to be comfortable in your golden years, there is still a lot of time to catch up. The following is a discussion of some of the best retirement investments you can make.

Simply stated qualified and non-qualified plans differ based on the type of funds that are invested. Funds that are taken from a taxpayers income pre-tax is qualified funds while non-qualified investments are after tax. This means that a qualified annuity cannot be transferred to most IRA plans.

Sudden medical bills, major car repairs or unexpected home repairs are all reasons to consider withdrawing from an IRA. Putting the money back after 60 days allows this type of transaction without penalty. However, failure to replace the funds can result in tax implications for IRA holders.

The promise of an annuity is simple – put in a set amount of money and receive a stream of payments until you die. However, there are downsides to this type of investment such as a lack of flexibility if your financial needs change.

Because an annuity reduces current tax cost, it is a popular investment vehicle. However, this is not always the case for beneficiaries of annuities. Annuity beneficiaries need to have a complete understanding of the taxes associated with annuities.

A SIMPLE IRA is a great way to save and invest money for retirement. However, there are limits on how much can be contributed to a SIMPLE IRA. The 2011 IRA contribution limits for a SIMPLE are unchanged from 2010.

The contribution age limit for a simple IRA is 70-1/2. You cannot contribute funds after that age. Also, you must begin taking distributions then. The amount you must take is determined by the amount in your account and your age. The IRS uses a specific formula for this determination.

A SEP-IRA is a tax-advantaged small business retirement plan. Like many other qualified plans, the limits on contributions are changed from time to time. Have there been any changes in the 2011 contribution limits?

The primary reason for transfers from UTMA accounts to 529 plans is to have more control over the use of funds. UTMA funds may be used for any financial needs for a child while 529 plans are specifically for educational expenses. Learn more about how to compare 529 to UTMA accounts.

If you are considering buying a second home, you may wonder whether to take the funds out of your IRA account. While real estate is still considered by many to be a solid investment, there may be penalties involved in using IRA money to buy a second home. Learn more about the pitfalls here.

You have an IRA which is not making much money and you have heard about precious metal IRA investing. The profit potential from gold and silver is very good, so read on and discover a couple of ways to use your IRA for precious metals investing.