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Here's What Couples Need to Know About Spousal IRAs

The Entrust Group

Estimated reading time: 3 minutes 30 seconds

With Valentine's Day around the corner, couples everywhere are gearing up to impress their partners. Buckling down on finances may not be the first things that comes to mind, but maximizing savings for retirement can be a joint effort for married couples who are ready for that phase in their life. Even if one of the spouses is not working, there is an option a lot of married couples are not taking advantage of and that is the spousal IRA contribution.

Topics: Basics of Self-Directed IRAs, Self-Directed IRA Plans, Plan Resources
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Roth IRA vs. Traditional IRA: Which One Works for You?

The Entrust Group

Estimated reading time: 4 minutes 

The most obvious difference between a Traditional IRA and a Roth IRA is how they are taxed upon distribution. When you save for retirement using a Traditional IRA, your contributions are typically made out of pre-tax income. That gives you the immediate benefit of a lower tax bill. But that tax bill comes due when you begin taking distributions from the Traditional IRA. You will pay taxes on the distributions, based on your tax bracket in the year you take your distribution. If you want to take your retirement savings workout to the next level, here are some tips:

Topics: Basics of Self-Directed IRAs, Alternative IRA Investments
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Transfers vs. Rollovers: We Explain the Difference

The Entrust Group

Estimated reading time: 3 minutes

Anyone who has ever filed a tax return knows that the devil is in the details when it comes to dealing with the IRS. That is doubly true when it comes to moving money from one retirement savings vehicle to another. Choosing the wrong method, or losing track of the time can trigger tax consequences that you want to avoid. If you want to give your 401(k) or savings a workout, it may be time to consider one or the other.

Topics: Basics of Self-Directed IRAs, Self-Directed IRA Plans
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Have an Old 401(k)? Put it to Work for Your Retirement

The Entrust Group

Estimated reading time: 2 minutes 50 seconds

On average, Americans change their jobs 12 times over the course of their working life. That raises the odds that you may have money sitting in a 401(k) plan from a former employer or you need to decide what to do with the balance in your 401(k) with a soon-to-be-previous employer. Instead of having dormant retirement funds, it's advisable to diversify your money. Give your account a workout by moving the funds to a self-directed IRA. Here are your options: 

Topics: Basics of Self-Directed IRAs, Alternative IRA Investments, Self-Directed IRA Plans
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Why You Shouldn't Overlook Your Beneficiary Designation

John Paul Ruiz, QKA, CISP

Estimated reading time: 2 minutes 20 seconds

In my career as a retirement professional, I believe that the IRA beneficiary designation is the section of the IRA document that is most over looked by most IRA holders. Common mistakes by IRA holders include skipping or not completing this section or not providing pertinent information. The information contained in this section is what provides guidance to the IRA custodian/trustee on who gets the assets upon the death of the IRA holder. Understanding how beneficiary designation forms work is essential in making sure the IRA holder understand how their assets will flow through to their beneficiary(ies) upon death.

Topics: Basics of Self-Directed IRAs, Plan Resources
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